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Pensions Act 2004

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Changes over time for: Cross Heading: Reporting breaches of the law

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Status:

Point in time view as at 11/02/2021.

Changes to legislation:

Pensions Act 2004, Cross Heading: Reporting breaches of the law is up to date with all changes known to be in force on or before 25 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Reporting breaches of the lawE+W+S

70Duty to report breaches of the lawE+W+S

(1)Subsection (2) imposes a reporting requirement on the following persons—

(a)a trustee or manager of an occupational or personal pension scheme;

[F1(aa)a member of the pension board of a public service pension scheme;]

(b)a person who is otherwise involved in the administration of [F2an occupational or personal pension scheme];

(c)the employer in relation to an occupational pension scheme;

(d)a professional adviser in relation to such a scheme;

(e)a person who is otherwise involved in advising the trustees or managers of an occupational or personal pension scheme in relation to the scheme;

[F3(f)a scheme strategist or scheme funder of a Master Trust scheme within the meaning of Part 1 of the Pension Schemes Act 2017 (see section 39 of that Act)].

(2)Where the person has reasonable cause to believe that—

(a)a duty which is relevant to the administration of the scheme in question, and is imposed by or by virtue of an enactment or rule of law, has not been or is not being complied with, and

(b)the failure to comply is likely to be of material significance to the Regulator in the exercise of any of its functions,

he must give a written report of the matter to the Regulator as soon as reasonably practicable.

(3)No duty to which a person is subject is to be regarded as contravened merely because of any information or opinion contained in a written report under this section.

This is subject to section 311 (protected items).

(4)Section 10 of the Pensions Act 1995 (c. 26) (civil penalties) applies to any person who, without reasonable excuse, fails to comply with an obligation imposed on him by this section.

Textual Amendments

F3S. 70(1)(f) inserted (5.9.2018 for specified purposes, 1.10.2018 so far as not already in force) by Pension Schemes Act 2017 (c. 17), s. 44(2), Sch. 3 para. 7; S.I. 2018/965, reg. 2

Commencement Information

I1S. 70 in force at 6.4.2005 by S.I. 2005/275, art. 2(7), Sch. Pt. 7

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