(This note is not part of the Regulations)
These Regulations are for the most part consequential upon section 273 of the Pensions Act 2004 (c.35) as amended by section 16 of the Pensions Act 2007 (c.22).
By virtue of section 273 of the Pensions Act 2004, section 50 of the Pensions Act 1995 (c.26) has been substituted by new sections 50, 50A and 50B. The new sections include much of the detail that was formerly contained in the Occupational Pension Schemes (Internal Dispute Resolution Procedures) Regulations 1996 (S.I. 1996/1270) (“the 1996 Regulations”).
Regulation 2 requires trustees or managers to make persons who apply for the resolution of a pension dispute (“applicants”) aware that the Pensions Advisory Service (TPAS) is available to assist them and the Pensions Ombudsman is available to investigate and determine any complaint or dispute, as part of the notification to the applicants of the trustees’ or managers’ or specified person’s decision in relation to the pension dispute.
Regulation 3 describes an occupational pension scheme in relation to which the requirement for dispute resolution arrangements does not apply.
Regulation 4 describes exempted disputes for the purposes of section 50 of the Pensions Act 1995.
Regulation 5 provides for transitional provision, to deal with cases already being considered under the internal dispute resolution procedures as they were prior to the coming into force of these Regulations, and also to deal with cases excluded from being considered by the Pensions Ombudsman because they were already being considered under internal dispute resolution procedures prior to the coming into force of these Regulations.
Regulation 6 makes consequential amendments to other Regulations. It also updates the references to the Pensions Advisory Service.
Regulation 7 revokes the 1996 Regulations.
These Regulations have only a negligible impact on the costs of business, charities and the voluntary sector. Publication of a full impact assessment in not necessary for such legislation.