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Pensions Schemes Act 2015

The pensions landscape has undergone substantial change in 2014 and 2015 with the enactment of a raft of new legislation. The Pension Schemes Act 2015 received Royal Assent on 3 March 2015, establishing the framework for defined ambition schemes and making provision for the new pensions freedoms.

The Act

The Pension Schemes Bill received Royal Assent on 3 March 2015 and became the Pensions Schemes Act 2015.

The Department for Work and Pensions have summarised the main provisions of the act on their Pension Schemes Act 2015 page. The DWP also issued the press release Pension freedoms protected and new breed of pension schemes become law on 4 March 2015.

Explanatory notes are also available for the act.

Guides and publications

Guide to the Pensions Schemes Act 2015 (LCP)
A six page guide to the Pensions Schemes Act 2015 from consultants Lane, Clark and Peacock which is intended to assist trustees, employers and scheme managers. The guide highlights and comments on the key provisions of the Act. Published in March 2015.

Pension Schemes Act 2015 (Sackers)
An overview of the Pension Schemes Act from Sackers, published on 5 March 2015. The summary also highlights the transfer rights that come into effect from April 2015 and explains what the new legislation means for the future of defined ambition schemes.

Articles and books

The ICAEW Library & Information Service holds a collection of articles and books on pensions law, management and taxation. 

The collection includes a set of the five volume Pensions Legislation Service which provides a comprehensive collection of the materials needed to advise on or manage a pension scheme. The volumes offer amended texts of Pensions statutes and statutory instruments, HMRC guidance and non–statutory materials relating to pensions issued by a variety of bodies. 

Although the Pensions Legislation Service is not available for loan, the enquiry team can search it on behalf of members and supply relevant extracts (subject to licences and copyright restrictions). Please contact our enquiry team for further information. 

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If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

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