Pension Schemes Act 2021

4 (1) This paragraph applies where— E+W+S

(a) a pause order is made in relation to a collective money purchase scheme,

(b) an order is made under paragraph 2(2) extending the period for which a pause order made in relation to a collective money purchase scheme has effect, or

(c) an order is made under paragraph 3 validating action taken in contravention of a pause order made in relation to a collective money purchase scheme.

(2) The Pensions Regulator must, as soon as reasonably practicable after the order has been made, notify the trustees of the scheme of the fact that the order has been made and of its effect.

(3) The Pensions Regulator may by order direct the trustees of the scheme to notify the following persons of the fact that the order has been made and of its effect—

(a) all of the members of the scheme or such members as are of a description specified in the order;

(b) all employers by which the scheme is used, or such employers as are of a description specified in the order;

(c) all relevant former employers who, but for the pause order, would be liable to make payments towards the scheme, or such of them as are of a description specified in the order.

(4) The trustees must give the notification within the period and in the manner specified in the order under sub-paragraph (3).

(5) If the trustees of a scheme fail to comply with a direction to them contained in an order under sub-paragraph (3), section 10 of the Pensions Act 1995 (civil penalties) applies to a trustee who has failed to take all reasonable steps to secure compliance.

Commencement Information

I1 Sch. 2 para. 4 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I2 Sch. 2 para. 4 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)