SCHEDULES

SCHEDULE 3Collective money purchase benefits: minor and consequential amendments

14Pensions Act 2004 (c. 35)

1

Section 93(2) (regulatory functions of the Pensions Regulator) is amended as follows.

2

In paragraph (pa)—

a

after “strategy” insert “for Master Trust scheme”;

b

omit the “and” at the end.

3

After paragraph (pa) insert—

pb

the power to give a direction under section 23(2) of the Pension Schemes Act 2021 (direction to obtain actuarial valuation or take other steps to remedy or mitigate failure in relation to a collective money purchase scheme),

pc

the power to give a notice under section 29(1) or (4) of that Act (risk notices),

pd

the power to give a direction under section 29(6) of that Act (direction to implement proposals in a resolution plan),

pe

the power to give a direction under section 39(4) of that Act (direction to submit implementation strategy), and