The Occupational and Personal Pension Schemes (Disclosure of Information) (Statements of Benefits: Money Purchase Benefits) (Amendment) Regulations 2021

JurisdictionUK Non-devolved
CitationSI 2021/1150

2021 No. 1150

Pensions

The Occupational and Personal Pension Schemes (Disclosure of Information) (Statements of Benefits: Money Purchase Benefits) (Amendment) Regulations 2021

Made 14th October 2021

Laid before Parliament 19th October 2021

Coming into force 1st October 2022

The Secretary of State, in exercise of the powers conferred by sections 113(1), (2A) and (3), 181(1), 182(2) and (3) and 183(1) of the Pension Schemes Act 19931, makes the following Regulations.

In accordance with section 185(1) of the Pension Schemes Act 19932, the Secretary of State has consulted such persons as the Secretary of State considers appropriate.

S-1 Citation, commencement and extent

Citation, commencement and extent

1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Disclosure of Information) (Statements of Benefits: Money Purchase Benefits) (Amendment) Regulations 2021 and come into force on 1st October 2022.

(2) These Regulations extend to England and Wales and Scotland.

S-2 Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

2.—(1) Regulation 17 of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (statements of benefits: money purchase benefits)3is amended as follows.

(2) After paragraph (10) insert—

S-11

“11 Paragraph (12) applies where—

(a) information must be given in accordance with this regulation by the trustees or managers of an automatic enrolment scheme to a member, and

(b) the automatic enrolment scheme is a scheme under which all the benefits which may be payable are money purchase benefits.

S-12

12 Where this paragraph applies—

(a) the prescribed information must be set out in the form of a statement,

(b) the prescribed information, and any other information which is included as part of that statement, must not exceed one double-sided sheet of A4-sized paper (being one double-sided sheet of paper with the dimensions 210 by 297 millimetres) when printed, and

(c) the trustees or managers of the scheme must have regard to guidance published from time to time by the Secretary of State concerning content and layout.

S-13

13 The trustees or managers of the scheme may give the prescribed information in a format which does not comply with paragraph (12) in response to a request by a member for it to be provided in an alternative format, where the trustees or managers are reasonably satisfied that it is necessary to do so to comply with their duties under the Equality Act 20104.

S-14

14 For the purposes of paragraphs (12) and (13), prescribed information is the information concerning the member’s money purchase benefits given under paragraphs (2) to (5) within the prescribed time in paragraph (7).

S-15

15 For the purposes of paragraph (11)—

“automatic enrolment scheme” has the meaning given in section 99 of the Pensions Act 20085, and

...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT