Clearance applications top 200 on anti-avoidance fears

Companies which have an under-funded defined benefit (DB) scheme, and are planning corporate transactions, can apply to the Regulator for a clearance statement. This statement gives companies assurance that the transaction does not contravene anti-avoidance legislation regarding pension liabilities, while confirming the Pension Regulator will not use its anti-avoidance powers in relation to the transaction once it has been completed. The optional clearance process came into effect in April last year, and in the nine months to December, the Regulator received around 230 clearance applica...