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Pensions Act 1995



Part I of the Act is concerned with occupational pension schemes. Section 1 outlines the introduction of the regulatory authority the Occupational Pensions Regulatory Authority (OPRA) protecting all scheme members and section 3 to 15 deals with the powers of OPRA. Section 16 to 46 is concerned with the activities of trustees whereas 47 and 48 deal with professional advisers including whistle blowing. Section 51 to 55 relate to indexation and require pensions in payment accrued from 6 April 1997 to be increased by limited price indexation (LPI). Section 56 to 61 require that all defined benefit schemes such as a final salary pension meet the minimum funding requirement (MFR) and section 62 to 66 deals with equalisation rules for men and women. Section 73 to 77 relates to the winding up of an occupational pension scheme including action to be taken for underfunded or surplus schemes, section 78 to 80 covers the Pensions Compensation Board and section 87 to 90 deals with money purchase schemes. Part II relates to state pensions and includes section 126 for the equalisation of the state pension age as well as revising the arrangements to contract out of the state earnings related pension scheme (SERPS).Part III relates to the certification of pension schemes and the effect on a members' state scheme rights including protected rights. Part IV covers section section 156 to 160 dealing with the Pensions Ombudsman and including section 166 to 167 for pensions on divorce.


United Kingdom





Issuer (type)

Secretary of State (Government)

Instrument type


Disclosure instrument


Geographical scope


Mandatory or voluntary


Text analysis

    • Moderate 0.68%
    • Low 0.01%
    • S focus: collective bargaining, compensation
    • Arts, Finance, Management, Manufacturing, Public administration