The Occupational and Personal Pension Schemes (Disclosure of Information) (Requirements to Refer Members to Guidance etc.) (Amendment) Regulations 2022
| Jurisdiction | UK Non-devolved |
| Citation | SI 2022/30 |
| Year | 2022 |
2022 No. 30
Pensions
The Occupational and Personal Pension Schemes (Disclosure of Information) (Requirements to Refer Members to Guidance etc.) (Amendment) Regulations 2022
Made 12th January 2022
Laid before Parliament 17th January 2022
Coming into force 1st June 2022
The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 113(1), 113B(1), (4) and (6) and 182(2) and (3) of the Pension Schemes Act 19931.
In accordance with section 185(1)2of that Act, the Secretary of State has consulted such persons as the Secretary of State considers appropriate.
Citation, commencement and extent
1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Disclosure of Information) (Requirements to Refer Members to Guidance etc.) (Amendment) Regulations 2022.
(2) These Regulations come into force on 1st June 2022.
(3) These Regulations extend to England and Wales and Scotland.
Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013
2.—(1) The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 20133are amended as follows.
(2) In regulation 2(1), for the definition of “pensions guidance” substitute—
“
“pensions guidance” means information or guidance provided by any person in pursuance of the requirements mentioned in section 4 of the Financial Guidance and Claims Act 2018 (information etc. about flexible benefits under pension schemes);
(3) In regulation 4(7) (requirement of trustees or managers to provide postal and electronic address for request for further information or other enquiry), after “18B(3)” insert “or 18C(4) or (7)”.
(4) In regulation 18A(2) (information to be given on request and on a member providing certain information), in sub-paragraph (b), after “benefits) and” insert “, subject to regulation 18C,”.
(5) In regulation 18B(1) (information to be given on communicating with a member about what the member may do with flexible benefits), after “paragraph (5)” insert “and regulation 18C”.
(6) After regulation 18B insert—
“
Requirement to refer members and survivors to guidance etc.
18C.—(1) Where this regulation applies, the requirements in the following regulations to provide the information on pensions guidance in Part 1 of Schedule 10 do not apply—
(a)
(a) regulation 18A(1) and (2)(b) (information to be given on request and on a member providing certain information); and
(b)
(b) regulation 18B(1) and (2) (information to be given on communicating with a member about what the member may do with flexible benefits).
(2) Subject to paragraph (3), this regulation applies where the trustees or managers of an occupational pension scheme receive on or after 1st June 2022 from any person an application, or communication made in relation to an application, from a relevant beneficiary (“B”)—
(a)
(a) to transfer any rights to flexible benefits accrued by B under the scheme; or
(b)
(b) to start receiving flexible benefits provided by the scheme.
(3) This regulation does not apply where the trustees or managers of an occupational pension scheme receive on or after 1st June 2022 from any person an application, or communication made in relation to an application, from B to transfer rights in accordance with paragraph (2)(a) if—
(a)
(a) B is under the age of 50;
(b)
(b) receiving flexible benefits is not the purpose, or one of the purposes, of the application; or
(c)
(c) the trustees or managers have received from B or a person authorised to act on behalf of B confirmation (given verbally or in writing) in relation to the application that—
(i) B—
(aa) has been referred by the trustees or managers of a different pension scheme to appropriate pensions guidance; and
(bb) has received or opted out of receiving that guidance,
in accordance with the requirements of this regulation; or
(ii) B is transferring rights to flexible benefits into a relevant pension scheme in respect of which the trustees or managers are required to comply with rules made under section 137FB of the Financial Services and Markets Act 20004(FCA general rules: disclosure of information about the availability of pensions guidance).
(4) As part of the application process, the trustees or managers—
(a)
(a) must offer to book a pensions guidance appointment on behalf of B on a date, at a time and of a kind suitable for B;
(b)
(b) where B accepts the offer mentioned in sub-paragraph (a), must take reasonable steps to book that appointment;
(c)
(c) where B does not accept that offer, or where the trustees or managers are unable to book such an appointment on a date, at a time and of a kind suitable for B despite having taken reasonable steps, must provide B with details of how to book a pensions guidance appointment;
(d)
(d) must explain to B that they cannot proceed with the application unless—
(i) B has received, and notified them of receipt of, appropriate pensions guidance; or
(ii) B opts out of receiving such guidance by giving them an opt-out notification; and
(e)
(e) must explain to B that B can only opt out of receiving appropriate pensions guidance by giving them an opt-out notification.
(5) Where the trustees or managers receive an application, or communication made in relation to an application, as mentioned in paragraph (2), B may give an opt-out notification—
(a)
(a) in a communication made solely for the purpose of opting out of receiving appropriate pensions guidance; or
(b)
(b) where paragraph (9) applies.
(6) Paragraph (7) applies to any interaction subsequent to the interaction mentioned in paragraph (4) where B contacts the trustees or managers in connection with B’s application unless—
(a)
(a) B has confirmed to the trustees or managers that B has received appropriate pensions guidance in connection with the application; or
(b)
(b) B has provided to the trustees or managers an opt-out notification in a communication made solely for the purpose of opting out of receiving appropriate pensions guidance.
(7) Where this paragraph applies, the trustees or managers must repeat the steps required by paragraph (4).
(8) If, at...
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