Social Welfare and Pensions (No. 2) Act 2013 – Information Note

9 January 2014: The Social Welfare and Pensions (No. 2) Act 2013 (“2013 Act”) came into force on 25 December 2013. It introduces two new wind-up priority orders and expands the type of benefit reductions which the Board may direct under section 50 of the Pensions Act 1990.

The Board has produced an information note which is available under the ‘Related Documents’ section.

This information note provides general information on the changes introduced by the 2013 Act to the Pensions Act 1990. It is intended to assist trustees and scheme members. It aims to summarise what are complex and technical points of pension legislation and should not be taken as legal advice or interpretation. It is the responsibility of trustees to ensure that they comply with their statutory obligations.