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

Regulations 6(2), 7(2), 8(1) and 18(1)

SCHEDULE 2E+W+SBasic information

This Atodlen has no associated Memorandwm Esboniadol

PART 1E+W+SInformation to be given by occupational pension schemes that fall within paragraph 1 of Schedule 1

1.  The conditions persons must meet to become members of the scheme and a summary of the categories of persons who are eligible to become members of the scheme.E+W+S

2.  How persons who are eligible to be members of the scheme are admitted to it.E+W+S

3.  A summary of what can be done with a member's accrued rights where the member leaves pensionable service before normal pension age, including whether accrued rights can be transferred out of the scheme, converted into an annuity and commuted to a lump sum.E+W+S

4.  A statement relating to the matters mentioned in paragraph 3—E+W+S

(a)as to whether a charge may be made, and

(b)that further information is available on request.

5.  Whether the scheme is a tax registered scheme or, if not, whether an application for the scheme to become a tax registered scheme is under consideration by the Commissioners for Her Majesty's Revenue and Customs.E+W+S

6.  A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with Chapters 4 and 5 of Part 4 of the 1993 Act (protection for early leavers).E+W+S

7.  The arrangements, if any, for the payment by members of additional voluntary contributions.E+W+S

8.  A summary of how the contributions, if any, payable by the employer and the member are calculated.E+W+S

9.  Where the scheme is the National Employment Savings Trust Corporation established under section 75(1) of the Pensions Act 2008 M1, a statement of the maximum amount, if any, of contributions that may be paid in any tax year in relation to a member of the scheme.E+W+S

Marginal Citations

10.  A statement that—E+W+S

(a)the Pensions Advisory Service M2 is available at any time to assist members and beneficiaries with—

(i)pensions questions, and

(ii)issues they have been unable to resolve with the trustees or managers of the scheme,

(b)the Pensions Ombudsman M3 may investigate and determine certain complaints or disputes about pensions that are referred to the Ombudsman in accordance with the 1993 Act, and

(c)the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

Marginal Citations

M2The Pensions Advisory Service is a company limited by guarantee under the Companies Act 2006 (c.46) and its registered number is 2459671.

M3The Pensions Ombudsman is appointed under section 145(2) of the 1993 Act.

11.  The postal and electronic address at which each of the bodies referred to in paragraph 10 may be contacted.E+W+S

12.  Except where the scheme has no relevant employment which is contracted-out employment within the meaning of section 8 of the 1993 Act M4 (meaning of certain terms), which relevant employment is and which is not contracted-out employment.E+W+S

Marginal Citations

M4Section 8 was amended by the 1995 Act, sections 151 and 177 Schedule 5, paragraph 23(a) and (b) and Schedule 7, Part 3; the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c.2), section 1(1) and Schedule 1, paragraph 34(a) and (b); the Pensions Act 2007, section 15(3)(a) and 27(2), Schedule 4, paragraphs 1, 3(1) to (4), 46 and 47 and Schedule 7, Part 7; the National Insurance Contributions Act 2008 (c.16), section 4(1) and Schedule 1, paragraphs 7 and 8(1) to (3) and S.I. 2005/2050.

13.  If a member of the scheme has to give a period of notice to terminate their pensionable service, the length of that period of notice.E+W+S

14.  Whether, and if so on what conditions (if any), a member of the scheme, whose pensionable service has terminated before normal pension age, may re-enter pensionable service.E+W+S

15.  The following information about benefits payable under the scheme (referred to in this paragraph as “benefits”)—E+W+S

(a)what the benefits are,

(b)how benefits are calculated,

(c)how the scheme defines pensionable earnings, if appropriate,

(d)how and when benefits in payment are increased, if appropriate,

(e)the rate at which rights to benefits accrue, if appropriate,

(f)the conditions on which benefits are payable,

(g)when benefits (including survivor's benefits) are payable.

16.  Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid, the performance of investments and the cost of converting the benefit into an annuity.E+W+S

[F116A.  Where the member has rights to cash balance benefits, a statement that the value of the pension will depend on several factors including the amount of contributions paid, any guaranteed interest or bonuses applied and the cost of converting the benefits into an annuity.]E+W+S

Textual Amendments

F1Sch. 2 para. 16A inserted (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 79(6)(a) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

17.  Except where the scheme is a public service pension scheme, a statement that the scheme annual report will be given on request.E+W+S

18.—(1) The scheme's internal dispute resolution arrangements.E+W+S

(2) The postal or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within section 50(8) of the 1995 Act M5 (requirement for dispute resolution arrangements).

Marginal Citations

M5Section 50 was substituted by the 2004 Act, section 273 and there are no relevant amendments.

PART 2E+W+SInformation to be given by occupational pension schemes not falling within paragraph 1 of Schedule 1 and schemes that are established under the Salvation Army Act 1963

19.  The following information about benefits payable under the scheme (referred to in this paragraph as “benefits”)—E+W+S

(a)what the benefits are,

(b)how benefits are calculated,

(c)how the scheme defines pensionable earnings, if appropriate,

(d)how and when benefits in payment are increased, if appropriate,

(e)the rate at which rights to benefits accrue, if appropriate,

(f)the conditions on which benefits are payable,

(g)when benefits (including survivor's benefits) are payable.

20.  A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with Chapters 4 and 5 of Part 4 of the 1993 Act.E+W+S

21.  A summary of what can be done with a member's accrued rights where the member leaves pensionable service before normal pension age, including whether the accrued rights can be transferred out of the scheme, converted into an annuity and commuted to a lump sum.E+W+S

22.  A statement relating to the matters mentioned in paragraph 21—E+W+S

(a)as to whether a charge may be made, and

(b)that further information is available.

23.—(1) The scheme's internal dispute resolution arrangements.E+W+S

(2) The postal or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within section 50(8) of the 1995 Act.

24.  A statement that—E+W+S

(a)the Pensions Advisory Service is available at any time to assist members and beneficiaries with—

(i)pensions questions, and

(ii)issues they have been unable to resolve with the trustees or managers of the scheme,

(b)the Pensions Ombudsman may investigate and determine certain complaints or disputes about pensions that are referred to the Ombudsman in accordance with the 1993 Act, and

(c)the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

25.  The postal address and electronic address at which each of the bodies referred to in paragraph 24 may be contacted.E+W+S

26.  A statement setting out—E+W+S

(a)which benefits are funded and which benefits are not, and

(b)the manner in which any funded benefits are secured.

27.  A statement that most of the provisions of the 1995 Act do not apply to the scheme.E+W+S

28.  Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid, the performance of investments and the cost of converting the benefit into an annuity.E+W+S

[F228A.  Where the member has rights to cash balance benefits, a statement that the value of the pension will depend on several factors including the amount of contributions paid, any guaranteed interest or bonuses applied and the cost of converting the benefits into an annuity.]E+W+S

Textual Amendments

F2Sch. 2 para. 28A inserted (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 79(6)(b) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

PART 3E+W+SLifestyling

29.  A statement explaining lifestyling, its advantages and disadvantages, and either—E+W+S

(a)that lifestyling will be adopted, indicating when lifestyling is likely to be adopted, or

(b)that lifestyling has been adopted.