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

30.— [F1 (1)] Where the scheme is one to which section 35 of the 1995 Act applies, an investment report containing— E+W+S

(a) a statement by the trustees or the fund manager providing details of any investments made for the scheme during the year that were not made in accordance with the statement of investment principles governing decisions about investments required under section 35 of the 1995 Act,

(b) where investments for the scheme have been made in the year that do not accord with the statement of investment principles governing decisions about investments required under section 35 of the 1995 Act (or were made in a previous year and continued to be held at the end of the year), a statement by the trustees or the fund manager giving the reasons why and explaining what action, if any, it is proposed to take or has already been taken to remedy the position,

(c) a review of the investment performance of the scheme's fund—

(i) during the year, and

(ii) except where the scheme has existed for less than three scheme years, during a period of not less than 3 and not more than 5 scheme years ending with the year,

including an assessment of the nature, disposition, marketability, security and valuation of the scheme's assets,

[F2 (ca) a statement which must—

(i) set out how, and the extent to which, in the opinion of the trustees, the policy required under regulation 2(3)(c) of the Occupational Pension Schemes (Investment) Regulations 2005 has been followed during the year, and

(ii) describe the voting behaviour by, or on behalf of, trustees (including the most significant votes cast by trustees or on their behalf) during the year and state any use of the services of a proxy voter during that year,]

[F3 (d) the policies specified in the following paragraph of regulation 2 of the Occupational Pension Schemes (Investment) Regulations 2005 (statement of investment principles) (“the Investment Regulations”)—

(i) paragraph (3)(b)(vi),

(ii) paragraph (3)(b)(vii), F4 ...

(iii) paragraph (3)(c), F5 ...

[F6 (iv) paragraph (3)(d), and]]

F7 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F8 (f) where the scheme is a relevant scheme within the meaning of the Occupational Pension Schemes (Scheme Administration) Regulations 1996, a statement which must—

(i) set out how, and the extent to which, in the opinion of the trustees, the statement of investment principles required under section 35 of the 1995 Act has been followed during the year,

(ii) describe any review of the statement of investment principles undertaken during the year in accordance with regulation 2(1) of the Investment Regulations and any other review of how the statement of investment principles has been met,

(iii) explain any change made to the statement of investment principles during the year and the reason for the change, and

(iv) where no such review was undertaken during the year in accordance with regulation 2(1) of the Investment Regulations, give the date of the last review. 

(v) describe the voting behaviour by, or on behalf of, trustees (including the most significant votes cast by trustees or on their behalf) during the year and state any use of the services of a proxy voter during that year.]

[F9 (2) Where, on the preparation or revision of an investment report under sub-paragraph (1), a scheme is a wholly-insured scheme and the trustees do not consider that it should cease to be such a scheme, sub-paragraphs (ca) and (d) of sub-paragraph (1) do not apply.]

Textual Amendments

F1 Sch. 3 para. 30(1): Sch. 3 para. 30 renumbered (with application in accordance with reg. 1(3) of the amending S.I.) by The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021 (S.I. 2021/1070), regs. 1(2), 5(b)(i)

F2 Sch. 3 para. 30(ca) inserted (1.10.2020) by The Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019 (S.I. 2019/982), regs. 1(4)(b), 3(4) (with reg. 5)

F3 Sch. 3 para. 30(d) substituted (1.10.2019) by The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 (S.I. 2018/988), regs. 1(1), 5(5)(a)

F4 Word in Sch. 3 para. 30(d)(ii) omitted by virtue of S.I. 2018/988, reg. 5(5)(a) (as amended) (1.10.2019) by virtue of The Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019 (S.I. 2019/982), regs. 1(2), 4(3)(aa)(c)(i) (with reg. 5)

F5 Word in Sch. 3 para. 30(d)(iii) omitted by virtue of S.I. 2018/988, reg. 5(5)(a) (as amended) (1.10.2019) by virtue of The Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019 (S.I. 2019/982), regs. 1(2), 4(3)(bb)(c)(i) (with reg. 5)

F6 Sch. 3 para. 30(d)(iv) inserted by S.I. 2018/988, reg. 5(5)(a) (as amended) (1.10.2019) by The Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019 (S.I. 2019/982), regs. 1(2), 4(3)(c)(i)(cc) (with reg. 5)

F7 Sch. 3 para. 30(e) omitted (1.10.2019) by virtue of The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 (S.I. 2018/988), regs. 1(1), 5(5)(b)

F8 Sch. 3 para. 30(f) inserted (1.10.2020) by The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 (S.I. 2018/988), regs. 1(3)(c), 5(5)(c)

F9 Sch. 3 para. 30(2) inserted (with application in accordance with reg. 1(3) of the amending S.I.) by The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021 (S.I. 2021/1070), regs. 1(2), 5(b)(ii)