SI explanatory text
These Regulations amend the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (S.I. 1996/1715) (“the 1996 Regulations”) and the Register of Occupational and Personal Pension Schemes Regulations 2005 (S.I. 2005/597) (“the 2005 Regulations”). These amendments are made to transpose, into pensions legislation, Parts 3 and 7, and related provisions of Parts 9 to 11, of the Investment Consultancy and Fiduciary Management Market Investigation Order 2019 made by the Competition and Markets Authority on 10th June 2019.
SI explanatory text
These Regulations amend the Occupational Pension Schemes (Master Trusts) Regulations 2018 (S.I. 2018/1030) (“the Master Trusts Regulations”).
Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2022
SI explanatory text
These Regulations amend the Occupational Pension Schemes (Charges and Governance) Regulations 2015 (S.I. 2015/879) so as to prohibit an annual flat fee from being charged to members with rights in the default arrangement of certain occupational pension schemes which would reduce the value of those rights to less than £100. They also ensure that where more than one flat fee charge is imposed in respect of a member in a single charges year, the trustees or managers of the scheme must restore the member’s rights under the default arrangement to the position they would have been in if only one such charge had been imposed.
SI explanatory text
These Regulations amend the law relating to the administration of occupational pension schemes. Regulation 2 amends the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (S.I. 1996/1715) to require trustees and managers to report on the return on investments their funds have achieved as part of the annual statement required on governance. It also requires the trustees and managers of schemes holding assets worth less than £100 million to compare the charges and transaction costs and the return on investments of their schemes with three other schemes and to assess the extent to which their schemes satisfy administration and governance criteria as part of their value for members assessment under regulation 25(1A) of those Regulations. Regulation 5 makes a consequential amendment to the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (S.I. 2013/2734).
Social Security Benefits Up-rating Regulations 2021
SI explanatory text
These Regulations amend the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 (S.I. 1991/167) (“the Preservation Regulations”) and the Occupational Pension Schemes (Charges and Governance) Regulations 2015 (S.I. 2015/879) (“the Charges and Governance Regulations”).
Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017
SI explanatory text
These Regulations amend the Occupational Pension Schemes (Charges and Governance) Regulations 2015 (S.I. 2015/879) (“the Principal Regulations”).