Download Information Request – With Profits Section of the

Information Request – With Profits Section of the Cheviot pension
Please complete and return to:
The Cheviot Trust
Kingswood House
58 - 64 Baxter Avenue
Southend-on-Sea
SS2 6BG
Or email to [email protected]
Name of firm
Legal status of firm
(e.g. partnership / LLP / Ltd company)
Number of equity partners / LLP members /
shareholders
Brief summary of key changes to identity of
the firm since 1997.
Please include specific dates where
available.
(e.g. merger / acquisition / LLP conversion)
Financial year end
Month that statutory accounts are typically
filed or partnership accounts approved
Date:
Please provide your latest available year end accounts with this return. We will contact you
annually to request further accounts.
Cheviot Trust With Profits Section
July 2016
Future events requiring communication to Cheviot Trustees Limited
This is required to assist the Trust in the review and monitoring of Employers under the scheme-specific funding
regime pursuant to the Pensions Act 2004 and the contribution rule introduced in March 2015 pursuant to the
High Court Order. This contribution rule applies to all Employers with liabilities under the Section, and enables
the Trust to impose contributions (if required pursuant to an actuarial valuation) on all Employers or on specific
individual Employer triggers (e.g. insolvency, merger). In preparing the list below the Trust has had regard to the
requirements of the Pensions Regulator.
This list broadly reflects the statutory obligations of Employers to provide information to the Trust under
Regulation 6(1)(a) of the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (as
amended) and the requirement to provide information under the Section’s contribution rule.
This list does not release you from any other duty or obligation that may exist to provide or disclose information to
the Trustee, the Pensions Regulator or any other competent authority having jurisdiction in relation to the
Scheme. Nor does this list limit or restrict the information which the Trustee may require, or the time at which it
may be required, for the purpose of enabling the Trustee to discharge its duties and obligations.
Please note that you need to engage with the Trustee before proceeding with any merger,
acquisition or LLP conversion. Failure to do so could result in the trigger of a payment to the
Section (either under the Pensions Act 2004 and/or under the contribution rule). The new entity
will be required to sign documentation to acknowledge and accept the liabilities due to the
Section.
Please notify us of any of the following at the address shown overleaf.
1)
Any planned change to the identity or nature of the firm. This would include:
•
Merger or acquisition;
•
LLP conversion or incorporation as limited company.
2) Any planned change to the priority of unsecured creditors on the insolvency of the firm. This
would include:
•
Changes to the relative ranking of partner/member capital;
•
Charges over assets granted to lenders.
3) Any material change to the ability of the firm to make payments to the Scheme. This would include:
•
The cessation or sale of a key practice area;
•
Material new borrowing.
4) Any indication that the firm may not be able to continue to trade as a going concern. This would
include:
•
Breaches of banking or other creditor covenants, or any formal notification of payment delay
required to be given to creditors.
•
Material litigation, disputes or claims threatened.
•
Discussions with the Solicitors Regulation Authority in relation to the financial position of the firm.
Cheviot Trust With Profits Section
July 2016