- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
3.—(1) Regulation 4 (restrictions on charges) of the Occupational Pension Schemes (Charges and Governance) Regulations 2015(1) is amended as follows.
(2) After paragraph (2) insert—
“(3) The application of this regulation and regulations 5 to 9 in respect of the value of a member’s rights is not affected by—
(a)a transfer of those rights from one relevant scheme to another; or
(b)a subsequent transfer of those rights from one arrangement to another within the receiving scheme,
where the member has not given consent to the transfer.
(4) This Chapter does not apply to a member of a relevant scheme to the extent of the value of that member’s rights in an arrangement (“Arrangement A”) where—
(a)the value of the rights has been transferred to Arrangement A from an arrangement which is not a default arrangement;
(b)the member has not given consent to the transfer;
(c)before the transfer took place, Arrangement A was not a default arrangement; and
(d)the member has, in the 5 years ending with the date of the transfer, expressed a choice as to where his or her contributions were allocated.”.
S.I. 2015/879; regulation 3 was amended by S.I. 2015/889, and regulation 4 by S.I. 2016/304 and 2017/774.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: