Act: means the Pension Schemes Act 2021.CDC: means a “collective defined contribution” scheme. Part 1 of the Act provides for these schemes, using the terms “collective money purchase benefits” and “collective money purchase schemes”, but the more common terminology in the industry is to refer to them as “CDC” arrangements. Find out more about CDC.Clearance Guidance: means the Regulator’s published clearance guidance, aimed at helping employers and connected parties when undertaking the voluntary process of applying for a clearance statement. Where given, a clearance statement gives assurance the Regulator will not use its moral hazard powers to issue either a Contribution Notice or a Financial Support Direction in relation to a particular event affecting a DB pension scheme. The Regulator’s most recent clearance guidance was updated on 29 September 2021 and is available here.Codes of Practice: means the codes of practice issued under s.90 PA04 and published on the Regulator’s website. Each code is intended to give practical guidelines on how to comply with the legal requirements of pensions regulation.Contribution Notice (or “CN”): means a notice issued under s.38 PA04 requiring an employer (or a person connected or associated with an employer) to pay a specified sum into a DB pension scheme. Before the Act, the Regulator could only issue a Contribution Notice in circumstances where the Material Detriment Test was met, or where, broadly, there had been an act (or failure to act) the purpose of which was to prevent a section 75 debt becoming due or being recovered. The Act establishes two further grounds under which a Contribution Notice can be issued.Criminal Offences Policy: means the Regulator’s published policy providing guidance on its approach to the investigation and prosecution of the new criminal offences of “avoidance of employer debt” or “conduct risking accrued scheme benefits”. It provides a comparison of these new offences with other related powers, and includes some examples of the types of behaviour that may fall within, and outside, the scope of these new offences. The Criminal Offences Policy was published on 29 September 2021 and is available here.DB pension scheme: means a pension scheme which pays a member a defined amount of benefit upon retirement. Members will generally be required to pay contributions into the scheme but the balance of the cost of providing scheme benefits will be met by the employer. DC pension scheme: means a pension scheme where the benefits a member receives will be dependent on the contributions made in respect of the member and the investment growth achieved, also referred to as a “money purchase” pension scheme. Declaration of intent: a new requirement under s69A PA04 for employers (and those connected or associated with an employer) to give the Regulator and scheme trustees notice of certain events. DWP: the Department for Work & Pensions.Employer: means an employer participating in the scheme. For a DB pension scheme, the employer is sometimes referred to as the “sponsoring employer”.Employer Insolvency Test: means the new ground established by the Act, under which a Contribution Notice can be issued. Find out more about the new grounds.Employer Resources Test: means the new ground established by the Act, under which a Contribution Notice can be issued. Find out more about the new grounds.FCA: means the Financial Conduct Authority. Financial Support Direction: means a direction issued under s.43 PA04 requiring an employer (or, broadly, a person connected or associated with an employer) to secure that financial support is put in place for a DB pension scheme. The Regulator can issue a Financial Support Direction where the employer is a “service company” or “insufficiently resourced”. The Act does not alter the Regulator’s powers in respect of Financial Support Directions. MaPS: means the Money and Pensions Service, established in 2019 and bringing together three financial guidance bodies: the Money Advice Service, The Pensions Advisory Service, and Pension Wise. MaPS is an arm’s-length body sponsored by DWP. Find out more about the Money and Pensions Service on their website.Master trust: means an authorised master trust scheme within the meaning of Part 1 of the Pension Schemes Act 2017. Material Detriment Test: means the ground set out in s.38A PA04 under which a Contribution Notice can be issued.Moral hazard: is the term often used to describe the Regulator’s anti-avoidance powers under the PA04, including its powers to issue Contribution Notices and Financial Support Directions.Notifiable events: means the prescribed events under s.69 PA04, which trustees or employers of DB pension schemes must notify to the Regulator. These are being expanded on by the Act.PA04: means the Pensions Act 2004.PA95: means the Pensions Act 1995.PCRIG: means the Pensions Climate Risk Industry Group, a cross-industry group set up by DWP, other government departments and the Regulator to produce guidance on how pension trustees can address climate-related financial risks as part of their governance processes.PDP: means the Pensions Dashboards Programme, a delivery group responsible for putting the necessary infrastructure in place to bring pensions dashboards on stream.PSA93: means the Pension Schemes Act 1993.QROPS: means a Qualifying Recognised Overseas Pension Scheme within the meaning of s.169 Finance Act 2004. Regulator: means the Pensions Regulator, also known as “TPR”.Section 75 debt: means the debt due from an employer of an underfunded DB pension scheme under s.75 PA95. Broadly, a debt can be triggered on the insolvency of the employer, the withdrawal of an employer in an ongoing multi-employer scheme or on the winding up of the scheme. It is calculated on the full and most expensive “buy-out basis”.TCFD: means the Task Force on Climate-related Financial Disclosures.2018 White paper: means the report Cm 9591 titled “Protecting Defined Benefit Pension Schemes” published by DWP in March 2018.