EU cross-border pension schemes

Updated guidance on European Union (EU) cross-border pension schemes has been published today (Thursday) by the Pensions Regulator.

Amendments have been made to the previous guidance to reflect Bulgaria and Romania joining the EU on 1 January 2007. The updated guidance also clearly defines the regulator's understanding of the legal position regarding cross-border pension schemes and includes a glossary of terms.

UK pension schemes wishing to operate cross-border are required to gain authorisation and approval from the Pensions Regulator. The guidance explains this two-stage process and both forms are available on the regulator's website. Authorisation only needs to be obtained once. The approval process needs to be completed each time a scheme wants to operate cross-border in an additional country, or to take contributions from an additional employer, in the EU.

To view the guidance in full visit: thepensionsregulator.gov.uk/trustees/crossBorder/index.aspx