The Pensions Regulator

Member-nominated trustees and member-nominated directors

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Exemptions from the MND requirements

The exemptions from the MND requirements can be found in section 242(10) of the Pensions Act 2004 and in regulations 1 and 3 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.

A scheme is exempt for the requirement to have MNDs if the scheme where one of the following applies:

• the sole director or all the directors 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 a relevant executive pension scheme in relation to the company;
• the scheme is a relevant wholly insured 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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