With publication on 11 April of The Pensions Act 2004 (Commencement No. 4 and Amendment) Order 2005 (SI 2005/1108), the DWP has now brought into force virtually all of Part 1 (The Pensions Regulator) and most of Part 2 (the PPF) of the Pensions Act 2004, and a deal more besides. Notably, the new provisions for State Pension Deferral (s.297 & Sch 11); TUPE (ss.257 - 258); and LPI (ss.278 - 280) are also in force.

In addition to bringing into force a few of the previously 'un-commenced' provisions of the Act, the No. 4 Order incorporates some amendments to the Commencement No. 3 Order (SI 2005/695).

The main sections of the Pensions Act 2004 yet to be commenced concern

A. Pension Protection:

• fees (s.118);
• closed schemes (ss.155 - 159);
• effect of Board assuming responsibility for a scheme (s.161, except s.161(2)(c) is in force, & Sch 6);
• adjustments where the Board assumes responsibility for a scheme (s.163);
• GMPs (s.164);
• duty to pay scheme benefits unpaid at assessment date etc (s.166);
• administration of compensation (s.168);
• discharge of the Board’s liabilities (ss.169 - 170);
• equal treatment (s.171);
• pension protection levies: supplementary provisions, amounts to be raised, and the levy ceiling (ss.176 - 178);
• pension protection levies during the transitional period (s.180);
• fraud protection (ss.182 - 188 and most of 189);
• annual reports from, and references to, the PPF Ombudsman (ss.212 - 218); and
• pension sharing (s.220).

B. Scheme Funding (Part 3):

• the entirety (ss.221 - 233).

C. Financial Planning for Retirement (Part 4):

• combined pension forecasts (s.237).

D. Occupational and Personal Pension Schemes: Miscellaneous Provisions (Part 5):

• categories of pension scheme (ss.239 - 240);
• MNTs and MNDs (ss.241 - 243);
• obligations of trustees (ss.244 - 249);
• payment of surplus to employer (ss.250 - 251);
• restrictions on payment into OPSs (ss.252 - 254);
• activities of OPSs (s.255);
• no indemnification for fines or civil penalties (s.256);
• consultation by employers (ss.259 - 261);
• early leavers: cash transfer sums and contribution refunds (s.264);
• voluntary contributions (s.267);
• payments by employers (ss.268 - 269);
• resolution of disputes (s.273); and
• contracting-out (ss.283 - 284).

E. Financial Assistance Scheme (Part 6):

• the entirety (s.286).

F. Cross-Border Activities Within EU (Part 7):

• the entirety (ss.287 - 295).

G. Miscellaneous and Supplementary (Part 9):

• dissolution of the Pensions Compensation Board (s.302)
• overriding requirements (s.306); and
• other general matters (ss.308 - 314).

Most of these outstanding sections of the Act are scheduled to come into force either in September 2005 or April 2006. The DWP has recently updated its timetable for issuing regulations under the Act. This indicates also planned consultation periods, and whether when made, the final regs will be subject to the negative or affirmative resolution procedure in Parliament (Ministers prefer the former because it avoids the tiresome business of a debate). In addition, the document covers a few other DWP regs due this year, and the schedule for issue of the twelve Codes of Practice presently planned (most of which are to be issued in autumn 2005). A copy of this DWP timetable may be obtained by emailing regs@ariespensions.co.uk.