Administration
14Information about benefits
I51
Scheme regulations must require the scheme manager for a scheme under section 1 which is a defined benefits scheme to provide benefit information statements to each person in pensionable service under the scheme in accordance with this section.
I1I62
A benefit information statement must include—
a
a description of the benefits earned by the person in respect of his or her pensionable service, and
b
such other information as Treasury directions may specify.
I1I63
The information included in a benefit information statement must comply with such requirements as Treasury directions may specify.
I54
A benefit information statement must be provided—
a
no later than the relevant date, and
b
at least once in each year ending with the anniversary of that date.
I55
The relevant date is the last day of the period of 17 months beginning with the day on which scheme regulations establishing the scheme come into force.
I1I66
A benefit information statement must be provided in such manner as Treasury directions may specify.
I915Information about schemes
1
Treasury directions may require the scheme manager or responsible authority of a scheme under section 1 to—
a
publish scheme information, or
b
provide scheme information to the Treasury.
2
In subsection (1), “scheme information” means information about the scheme and any statutory pension scheme that is connected with it.
3
The information to which Treasury directions under this section may relate includes in particular—
a
scheme accounts;
b
information about any scheme funding, assets and liabilities;
c
information about scheme membership;
d
information about employer and member contributions;
e
information about scheme administration and governance.
4
Treasury directions under this section may specify how and when information is to be published or provided.
5
Treasury directions under this section may not require publication or provision of anything that the scheme manager or responsible authority could not otherwise lawfully publish or provide.
I2I816Records
1
The scheme manager for a scheme under section 1 and any statutory pension scheme that is connected with it must keep such records as may be specified in regulations made by the Secretary of State.
2
Regulations under this section are subject to the negative procedure.
17Regulatory oversight
I3I71
Schedule 4 contains provision relating to the regulation of schemes under section 1, new public body pension schemes and connected schemes.
I42
The Secretary of State may by order make—
a
provision consequential on Schedule 4, and
b
further provision for, or in connection with, the regulation of public service pension schemes within the meaning of the Pensions Act 2004 (as amended by that Schedule).
I43
The provision referred to in subsection (2) includes provision made by amending any legislation (including this Act).
I44
An order under this section may make different provision for different purposes.
I45
An order under this section is subject to—
a
the affirmative procedure, if it amends primary legislation, and
b
the negative procedure, in any other case.