Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1992

JurisdictionUK Non-devolved
CitationSI 1992/1531

1992 No. 1531

PENSIONS

The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1992

Made 29th June 1992

Laid before Parliament 29th June 1992

The Secretary of State for Social Security, in exercise of the powers conferred upon him by sections 39(1), 52C(4)(a)(ii), 56A(1) and (3), 56E(1), (3) and (4), 59K(1)(a) and (5), 60ZA(1), (2) and (4) and 66(4) of the Social Security Pensions Act 19751, sections 166(1) to (3) and 168(1) of, and Schedule 20 to, the Social Security Act 19752and section 2 of, and paragraph 9(3)(b) and (4) of Schedule 1 to, the Social Security Act 19863and of all other powers enabling him in that behalf, after considering the report of the Occupational Pensions Board on the proposals referred to them4and after agreement by the Social Security Advisory Committee that proposals to make these Regulations in so far as they are made under sections 59K and 60ZA of the Social Security Pensions Act 1975 should not be referred to it5, hereby makes the following Regulations:

Citation, commencement, extent and interpretation
S-1 Citation, commencement, extent and interpretation

Citation, commencement, extent and interpretation

1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1992 and shall come into force—

(a)

(a) for the purposes of this regulation and regulations 2, 3 and 25 to 33, on 20th July 1992 and

(b)

(b) for the purposes of regulations 4 to 24 and 34 to 36 on 28th September 1992.

(2) This regulation insofar as it applies to regulation 32, and regulation 32 insofar as it applies to regulations 1, 3 and 6 of the Register of Occupational and Personal Pension Schemes Regulations 19906, shall extend to Northern Ireland.

“the Occupational Pension Schemes Disclosure Regulations” means the Occupational Pension Schemes (Disclosure of Information) Regulations 19867;

“the Personal Pension Schemes Disclosure Regulations” means the Personal Pension Schemes (Disclosure of Information) Regulations 19878;

“the Protected Rights Regulations” means the Personal and Occupational Pension Schemes (Protected Rights) Regulations 19879;

“the Levy Regulations” means the Occupational and Personal Pension Schemes (Levy) Regulations 199010;

“the Register Regulations” means the Register of Occupational and Personal Pension Schemes Regulations 1990;

“the Preservation of Benefit Regulations” means the Occupational Pension Schemes (Preservation of Benefit) Regulations 199111.

Amendment of regulation 34 of the Occupational Pension Schemes (Contracting-out) Regulations 1984
S-2 Amendment of regulation 34 of the Occupational Pension Schemes (Contracting-out) Regulations 1984

Amendment of regulation 34 of the Occupational Pension Schemes (Contracting-out) Regulations 1984

2. In regulation 34 of the Occupational Pension Schemes (Contracting-out) Regulations 198412(commutation of pension) in paragraphs (1)(c) and (2) for the sum of “£104” there shall, on each occasion where it appears, be substituted the sum of “£260”.

Amendment of regulation 3 of the Occupational Pension Schemes (Discharge of Liability) Regulations 1985
S-3 Amendment of regulation 3 of the Occupational Pension Schemes (Discharge of Liability) Regulations 1985

Amendment of regulation 3 of the Occupational Pension Schemes (Discharge of Liability) Regulations 1985

3. In regulation 3 of the Occupational Pension Schemes (Discharge of Liability) Regulations 198513(conditions on which policies of insurance and annuity contracts may be commuted) in paragraph (1)(a) for the sum of “£104” there shall be substituted the sum of “£260”.

Amendment of regulation 1 of the Occupational Pension Schemes Disclosure Regulations
S-4 Amendment of regulation 1 of the Occupational Pension Schemes Disclosure Regulations

Amendment of regulation 1 of the Occupational Pension Schemes Disclosure Regulations

4. In regulation 1(2) of the Occupational Pension Schemes Disclosure Regulations (interpretation)—

(a) after the definition of “employer” there shall be inserted the following definition—

““excluded person” means a person whose present address is not known to the trustees and in respect of whom correspondence sent by the trustees to his last known address has been returned, but who is not—

(a) employed in employment to which the scheme relates; or

(b) entitled to receive a pension or other periodic payment under the scheme;”;

(b) for the definition of “scheme year” there shall be substituted the following definition—

““scheme year”, in relation to a scheme, means—

(a) a year specified for the purposes of the scheme in any document comprising the scheme or, if none, a period of 12 months commencing on 1st April or on such other date as the trustees select; or

(b) such other period (if any) exceeding 6 months but not exceeding 18 months as is selected by the trustees—

(i) in respect of the scheme year in which the scheme commences or terminates, or

(ii) in connection with a variation of the date on which the scheme year is to commence;”;

(c) the definition of “self-investment” shall be deleted.

Amendment of regulation 2 of the Occupational Pension Schemes Disclosure Regulations
S-5 Amendment of regulation 2 of the Occupational Pension Schemes Disclosure Regulations

Amendment of regulation 2 of the Occupational Pension Schemes Disclosure Regulations

5. In regulation 2 of the Occupational Pension Schemes Disclosure Regulations (meaning of expressions “member” and “prospective member” in relation to a scheme), for paragraphs (2) and (3) there shall be substituted the following paragraphs—

S-2

“2 There are to be regarded as members of an occupational pension scheme any persons who—

(a) are in pensionable service under the scheme;

(b) have rights under the scheme by virtue of such pensionable service; or

(c) have rights under the scheme by virtue of having been allowed transfer credits under the scheme.

S-3

3 There are to be regarded as prospective members of an occupational pension scheme—

(a) any persons who are able, at their own option, to become members of the scheme, and

(b) any persons who, under the terms of their contracts of service and the scheme rules, will become so able if they continue in the same employment for a sufficiently long period.”.

Amendment of regulation 3 of the Occupational Pension Schemes Disclosure Regulations
S-6 Amendment of regulation 3 of the Occupational Pension Schemes Disclosure Regulations

Amendment of regulation 3 of the Occupational Pension Schemes Disclosure Regulations

6. In regulation 3 of the Occupational Pension Schemes Disclosure Regulations (cases where regulations 4 to 9 do not apply)—

(a) in sub-paragraph (1)(c) the words from “it has” to “it relates and” shall be deleted;

(b) after paragraph (1) there shall be inserted the following paragraph—

S-1A

“1A None of the requirements of regulations 4 to 9 shall apply to a scheme unless it—

(a) has been approved for the purposes of section 590 or section 591 (other than subsection (2)(g)) of the Income and Corporation Taxes Act 198814(conditions for approval of retirement benefit schemes and discretionary approval); or

(b) has been the subject of an application for such approval which has not been determined; or

(c) is a public service pension scheme.”.

Amendment of regulation 4 of the Occupational Pension Schemes Disclosure Regulations
S-7 Amendment of regulation 4 of the Occupational Pension Schemes Disclosure Regulations

Amendment of regulation 4 of the Occupational Pension Schemes Disclosure Regulations

7. In regulation 4 of the Occupational Pension Schemes Disclosure Regulations (constitution of scheme), the following paragraphs shall be added after paragraph (5)15

S-6

“6 Nothing in this regulation shall require the disclosure of any provision in relation to a member, or prospective member, that is not relevant to his rights under the scheme.

S-7

7 Where any provision of an Act or statutory instrument has been set out in a document which is required to be disclosed by paragraph (1), or has been incorporated in such a document by reference, that provision shall be disclosed either—

(a) by giving a reference to it and to the Act or statutory instrument in which it is contained; or

(b) by setting out its text.”.

Amendment of regulation 5 of the Occupational Pension Schemes Disclosure Regulations
S-8 Amendment of regulation 5 of the Occupational Pension Schemes Disclosure Regulations

Amendment of regulation 5 of the Occupational Pension Schemes Disclosure Regulations

8. In regulation 5 of the Occupational Pension Schemes Disclosure Regulations (basic information about the scheme)—

(a) for paragraph (2) there shall be substituted the following paragraph—

S-2

“2 The information specified in Schedule 1 shall be given as of course to every member of the scheme within 13 weeks of his becoming a member and the information specified in paragraphs 18 to 20 of Schedule 1 shall be given as of course to every member of the scheme on 28th September 1992 by 31st December 1992.”;

(b) in paragraph (3)—

(i) for the words “within 3 years” there shall be substituted the words “within one year”;

(ii) for the words “after he or, as the case may be, that trade union requests it” there shall be substituted the words “and in any event within one month of the date of receipt by the trustees of the request”;

(c) in paragraph (5) after the words “All members of and beneficiaries under the scheme” there shall be inserted the words “except an excluded person”;

(d) for paragraph (6) there shall be substituted the following paragraph—

S-6

“6 The trustees shall—

(a) where it is practicable for them to do so, draw to the attention of all members of the scheme any change in relation to the scheme which will result in a material alteration in the information referred to in paragraphs 1 to 16B and 18 to 20 of Schedule 1 before that change takes effect; and

(b) where...

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