The Personal Pension Schemes (Disclosure of Information) Regulations 1987

Regulation 4

SCHEDULE 1 BASIC INFORMATION ABOUT THE SCHEME

1.  The address to which enquiries about the scheme generally, or about an individual’s entitlement to benefit, should be sent.

2.  The names and addresses of the trustees of the scheme.

3.  The conditions of membership.

4.  How and where copies of the contents of the documents (relating to the constitution of the scheme) of which disclosure is required by regulation 3(1) may be purchased and inspected.

5.  Whether the scheme is an appropriate scheme and, if it is not, whether an application for the scheme to be certified as such a scheme is under consideration by the Occupational Pensions Board.

6.  How contributions by members and their employers and (if the scheme is an appropriate scheme) minimum contributions by the Secretary of State, are paid to the scheme.

7.  A summary of the conditions of the scheme which govern how a member’s accrued rights may be transferred, converted to an annuity or annuities, or commuted to a lump sum.

8.  A summary of the scheme’s investment policy.

9.  Illustrative estimates of the cash equivalents which would be paid on the transfer of protected rights to another scheme at the end of each of the first 5 years of membership, stating the assumptions made, so however that, where a scheme is established by a person to whose business Chapter V of Part I of the Financial Services Act 1986(1) applies, those estimates may be prepared in accordance with rules made under that Chapter of that Part of that Act, and where a scheme is established by a person who is a member of a self-regulating organisation, which is recognised for the purposes of Chapter III of Part I of the Financial Services Act 1986, those estimates may be prepared in accordance with rules which are binding on that person as a member of that organisation.

10.  The basis on which any part—

(a) of any payment or payments that are made to the scheme by or on behalf of a member;

(b) of any income or capital gain arising from the investment of payments such as are mentioned in sub-paragraph (a); or

(c) of the value of rights under the scheme,

may be used—

(i) to defray the administrative expenses of the scheme;

(ii) to pay commission; or

(iii) in any other way which does not result in the provision of benefits for or in respect of members,

so however that, where a scheme is established by a person to whose business Chapter V of Part I of the Financial Service Act 1986 applies, the information required to be specified may be specified in accordance with rules made under that Chapter of that Part of that Act, and where a scheme is established by a person who is a member of a self-regulating organisation, which is recognised for the purposes of Chapter III of Part I of the Financial Services Act 1986, the information required to be specified may be specified in accordance with rules which are binding on that person as a member of that organisation.

11.  Which of the benefits, if any, are such that fulfilment of the obligation to pay them, to or in respect of particular members, is guaranteed by means of one or more insurance policies which are specifically allocated to the provision of benefits payable to, or in respect of, those members.

12.  The arrangements that have been made to enable the scheme to meet its obligations in respect of members' protected rights in the event of the scheme’s resources, proving insufficient to do so and the names and addresses of the persons with whom they have been so made.

13.  The arrangements that would be made, in accordance with legislation, to enable the scheme to meet its obligations in respect of members' protected rights in the event of the scheme’s resources, proving insufficient to do so and the names and addresses of the persons with whom they would be so made.

(1)

1986 c. 60.