PART 1Collective money purchase benefits

Ongoing supervision

I1I227Requirement to submit supervisory return

1

The Pensions Regulator may by notice require the trustees of a collective money purchase scheme to submit a supervisory return.

2

The Secretary of State may make regulations setting out the information that the Pensions Regulator may require in a supervisory return.

3

The notice must specify—

a

the information required to be included in the return,

b

the manner and form in which the return must be submitted, and

c

the period (of at least 28 days) within which the return must be submitted.

4

The trustees of a collective money purchase scheme may not be required to submit a supervisory return more than once in any 12 month period.

5

Section 10 of the Pensions Act 1995 (civil penalties) applies to a trustee who fails to submit a supervisory return when required to do so.

6

Regulations under subsection (2) are subject to negative resolution procedure.