Clifford Chance
ITV fails to Box Clever in Court Determination on Pensions Deficit
21 June 2018
The Pensions Regulator (TPR) recently indicated that it will not hesitate to use its anti-avoidance enforcement powers under the Pensions Act 2004 (PA 2004) against any connected or associated company where it believes that it would be reasonable for that company to provide financial support to an underfunded defined benefit pension scheme. TPR was no doubt emboldened by the Upper Tribunal's decision last month in the Box Clever case which confirmed the very broad scope of TPR's jurisdiction and the considerable latitude that it enjoys when applying the statutory "reasonableness" test.
