RPSM04102027 - Technical Pages: Taxation: Authorised employer payments: Authorised surplus payments: Bona Vacantia

Bona Vacantia

A registered pension scheme, that is an occupational pension scheme, might have surplus funds but, because of a company dissolution, no sponsoring employer in relation to the scheme to which the surplus can be returned. Where this occurs, the surplus funds could be taken by either the Crown, Duchy of Lancaster or Duke of Cornwall as 'bona vacantia'. 

Surplus funds taken as ‘bona vacantia’ are not unauthorised employer payments and nor does the authorised surplus payments charge apply in respect of such funds.