Register of Occupational and Personal Pension Schemes Regulations 1997

JurisdictionUK Non-devolved
CitationSI 1997/371

1997 No. 371

PENSIONS

The Register of Occupational and Personal Pension Schemes Regulations 1997

Made 18th February 1997

Coming into force 1st April 1997

Whereas a draft of these Regulations was laid before Parliament in accordance with the provisions of section 186(3)(d) of the Pension Schemes Act 19931and approved by resolution of each House of Parliament:

Now, therefore, the Secretary of State for Social Security, in exercise of the powers conferred upon him by sections 6, 168(1), (2) and (4), 181(1), 182(2) and (3), 183(1) and 192(2) of the Pension Schemes Act 19932, and of all other powers enabling him in that behalf, the Occupational Pensions Board having agreed that the proposals to make these Regulations need not be referred to them3, by this instrument, hereby makes the following Regulations:

S-1 Citation, extent, commencement and interpretation

Citation, extent, commencement and interpretation

1.—(1) These Regulations may be cited as the Register of Occupational and Personal Pension Schemes Regulations 1997.

(2) Regulations 2, 3, 4(2), 6(1), (3) to (8), 8 and 9, and this regulation, in so far as it applies to those regulations, extend to Northern Ireland.

(3) These Regulations shall come into force on 1st April 1997.

(4) In these Regulations—

the 1993 Act” means the Pension Schemes Act 1993;

the 1988 Act” means the Income and Corporation Taxes Act 19884;

“address of the scheme” means the place in the United Kingdom, or if more than one, the principal place, at which the management of the scheme is conducted;

“closed scheme” means a registrable scheme to which no new members may be admitted, but to which contributions are or may be payable by or in respect of, and under which benefits accrue to, existing members;

“frozen scheme” means a registrable scheme under which benefits continue to be payable to existing members and to which—

(a) no new members may be admitted;

(b) no further contributions are payable by or in respect of existing members; and

(c) no further benefits accrue to existing members although benefits which have already accrued to them may be increased;

“member” means—

(a) in relation to an occupational pension scheme, any person who—

(i) is in pensionable service under the scheme,

(ii) has rights under the scheme by virtue of his pensionable service under the scheme, or

(iii) has rights under the scheme by virtue of having been allowed transfer credits under the scheme;

(b) in relation to a personal pension scheme or a scheme treated as such, a member of the scheme;

other than a member in respect of whom entitlement under the scheme is only for benefits payable on his death;

“open scheme” means a registrable scheme which has members who are in pensionable service under the scheme and to which new members may be admitted;

“register” means the register of occupational and personal pension schemes compiled and maintained under regulation 3;

“registrable scheme” means an occupational or personal pension scheme—

(a) which either—

(i) is established in the United Kingdom, or

(ii) has a place at which its management is conducted in the United Kingdom and has a representative appointed to carry out the functions of a trustee in the United Kingdom; and

(b) which either—

(i) is a scheme in respect of which a person has applied for, or received, the approval of the Board of Inland Revenue for the purposes of section 590 or section 591 (other than subsection (2)(g)) of the 1988 Act (conditions for approval of retirement benefit schemes and discretionary approval), or for the purposes of Chapter IV of Part XIV of that Act (personal pension schemes), or

(ii) is a scheme which is a public service pension scheme; and

(c) which—

(i) has more than one member, and

(ii) provides benefits which are not solely payable on the death of a member;

and for the purposes of these Regulations, an occupational pension scheme which is a retirement benefits scheme approved under section 591(2)(h) (discretionary approval) of the 1988 Act shall be treated as a personal pension scheme;

“Registrar” means the Registrar of Occupational and Personal Pension Schemes appointed under regulation 2;

the 1990 Regulations” means the Register of Occupational and Personal Pension Schemes Regulations 19905;

“Regulatory Authority” means the Occupational Pensions Regulatory Authority6;

“scheme administrator” means the person in the United Kingdom having the management of the scheme;

“scheme year” in relation to a registrable 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 connection with the commencement or termination of the scheme, or

(ii) in connection with a variation of the date on which the year or period referred to in paragraph (a) is to commence;

“total membership” means the number of members—

(a) on the day on which the scheme becomes a registrable scheme, then

(b) at the end of the second scheme year, then

(c) at the end of each subsequent scheme year;

“trustees”, in the case of a scheme which is not set up under a trust, means the managers of the scheme, except in relation to a scheme established outside the United Kingdom, and in such a case “trustees” means the person treated by the Commissioners of Inland Revenue for the time being as administrator of the scheme for the purposes of Chapter I or Chapter IV of Part XIV of the 1988 Act;

S-2 The Registrar of Occupational and Personal Pension Schemes

The Registrar of Occupational and Personal Pension Schemes

2.—(1) There shall continue to be a Registrar of Occupational and Personal Pension Schemes.

(2) The Regulatory Authority shall be the Registrar.

(3) The Registrar may appoint an agent to perform any function of the Registrar.

S-3 The register

The register

3.—(1) The Registrar shall continue to compile and maintain the register established under the 1990 Regulations.

(2) The register shall contain the following information in so far as it is applicable to the scheme—

(a)

(a) the name and address of the scheme;

(b)

(b) the names of the trustees of the scheme;

(c)

(c) the address to which communications for the attention of the trustees are to be directed if other than that specified in sub-paragraph (a);

(d)

(d) the name of the scheme administrator;

(e)

(e) whether the scheme is an open, closed or frozen scheme;

(f)

(f) the name (and, if there has been a change of name, the previous name) and address of every employer of earners in employment to which the scheme relates or has at any time since 6th April 1975 related;

(g)

(g) the total membership;

(h)

(h) whether the scheme provides—

(i) money purchase benefits,

(ii) benefits other than money purchase benefits, or

(iii) a combination of the benefits specified under heads (i) and (ii),

and for the purposes of this regulation, benefits derived from transfer credits, or from a member’s voluntary contributions, or which are payable on a member’s death shall be disregarded;

(i)

(i) whether scheme benefits, or any of them, are secured by a contract of insurance or annuity...

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