The Pension Schemes Act 2021 (Commencement No. 1) Regulations 2021
| Jurisdiction | UK Non-devolved |
| Citation | SI 2021/620 |
| Year | 2021 |
2021 No. 620 (C. 23)
Pensions
The Pension Schemes Act 2021 (Commencement No. 1) Regulations 2021
Made 24th May 2021
The Secretary of State for Work and Pensions, in exercise of the powers conferred by section 131(1) and (4) of the Pension Schemes Act 20211, makes the following Regulations.
Citation, extent and interpretation
1.—(1) These Regulations may be cited as the Pension Schemes Act 2021 (Commencement No. 1) Regulations 2021.
(2) These Regulations extend to England and Wales and Scotland.
(3) In these Regulations “the Act” means the Pension Schemes Act 2021.
Provisions coming into force on 31st May 2021
2.—(1) The day appointed for the coming into force of the following provisions of the Act for the purpose only of making regulations is 31st May 2021—
(a)
(a) section 103(4) (section 38 contribution notice: meaning of “employer resources test”);
(b)
(b) section 109(2) (duty to give notices and statements to the Regulator in respect of certain events);
(c)
(c) section 110(2) (interviews);
(d)
(d) section 112 (fixed penalty notices and escalating penalty notices); and
(e)
(e) section 125(2) and (6) (exercise of right to cash equivalent).
(2) The day appointed for the coming into force of the following provisions of the Act is 31st May 2021—
(a)
(a) section 116 (minor and consequential amendments) and paragraph 2 of Schedule 7 (amendments to the Pensions Act 2004), only insofar as they relate to paragraph 8(a) of Schedule 7 (amendment to section 90 of the Pensions Act 2004);
(b)
(b) section 124 (climate change risk);
(c)
(c) section 126 (modification of provisions relating to pensionable service); and
(d)
(d) paragraph 8(a) of Schedule 7.
Guy Opperman
Parliamentary Under Secretary of State
Department for Work and Pensions
24th May 2021
EXPLANATORY NOTE
(This note is not part of the Regulations)
These are the first commencement regulations made under the Pension Schemes Act 2021 (c. 1)(“the Act”).
Regulation 2 brings into force certain provisions of the Act on 31st May 2021.
Regulation 2(1) brings into force for the purpose only of making regulations: section 103(4) (section 38 contribution notice: meaning of “employer resources test”); section 109(2) (duty to give notices and statements to the Regulator in respect of certain events); section 110(2) (interviews); section 112 (fixed penalty notices and escalating penalty notices); and...
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