The Pensions Regulator

Member-nominated trustees and member-nominated directors

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Exemptions from the MNT requirements

The exemptions from the MNT requirements can be found in section 241(8) of the Pensions Act 2004 and in regulations 1 and 2 of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006 (SI 2006/714).

They are listed here for information and are accurate as at 6 April 2006. If you think an exemption might apply, you should always check the regulations to make sure it has not been amended.

An occupational pension scheme is exempt for the requirement to have MNTs where one of the following applies:

• every member of the scheme is a trustee of the scheme and there are no other trustees;
• every trustee is a company (then the MND requirements will apply);
• the sole trustee or all the trustees are independent within the meaning given by section 23(3) of the Pensions Act 1995;
• section 22 of the Pensions Act 1995 applies to the scheme;
• the scheme is independent of the employer by virtue of the employer having been dissolved or liquidated prior to 6 April 2005;
• the scheme only has one member;
• the scheme is a small insured scheme;
• the scheme is a relevant small occupational pension scheme;
• the scheme is not required to register with HMRC;
• the scheme is a stakeholder pension scheme;
• the scheme is a relevant centralised scheme;
• the scheme is a direct payment, paid-up insurance scheme;
• the scheme is a former old code scheme;
• the scheme is a section 615(6) of the Income and Corporation Taxes Act 1988 scheme (superannuation scheme);
• the scheme is set up under section 2 of the Parliamentary and other Pensions Act 1987 (a Parliamentary scheme eg for members of the House of Commons);
• the scheme has been modified under Schedule 5 to the Coal Industry Act 1994;
• the trustee is a body governed by church legislation.

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