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Paying lump sum death benefits
Paying lump sum death benefits
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The regulator's role
If the regulator receives notification of a breach of the law, we are primarily concerned with any risks to members' benefits which such a breach may pose.In determining whether a scheme is in breach of s255, we accept that there may be a legitimate range of legal opinion on particular facts.
We do not consider that potential reporters have reasonable cause to believe that a breach of s255 has occurred where they have advice that a breach is possible but not likely.
Where reporters do have reasonable cause to believe a breach has occurred, they should note that not every breach of s255 is likely to be of material significance to the regulator. Reporters should assess the cause of the breach, its effect, the reactions to it and any wider implications it may have.
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| Related pages |
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| s255 of the Pensions Act |