The new Pensions Dashboards (Prohibition of Indemnification) Act 2023 was published on legislation.gov.uk, the official website of the UK government for publicizing legal documents. The Act modifies the Pensions Act 2004, specifically provisions as regards the indemnification for fines or civil penalties from the assets of a pension scheme (Article 256), to correct an unintentional consequences of the implementation of the Pension Schemes Act 2021 which implemented the new pension dashboard rules.
Specifically, the 2004 Act is revised to include the reference to the Pension Schemes Act 2021 to ensure that pension scheme trustees or managers that are fined or subject to civil penalties are prohibited from using any pension scheme funds for payment of such penalties.
Pensions Dashboards (Prohibition of Indemnification) Act 2023
ID
23097
Other Features
fund management
penalties
pension funds
Date Published: 2023-05-03
Regulatory Framework: Pension Schemes Act 2021
Regulatory Type: law
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