The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

1Citation, commencement, expiry, revocations and amendments

2Interpretation

3Recognised trade union

4Application of these Regulations

5Civil penalties relating to occupational pension schemes

6Basic scheme information

7Basic scheme information to be given by certain schemes

8Material alterations to basic scheme information

9Modification by the Regulator

10Former stakeholder pension schemes

11Constitution of the scheme

12Annual report

13Other information to be given on request

14Transfer credits

15Summary funding statements

16Statements of benefits: non money purchase benefits

17Statements of benefits: money purchase benefits

19First information on accessing benefits

20Second information on accessing benefits

21Accessing benefits on the death of the member or beneficiary

22Changes to benefits

23Personal pension schemes that have begun winding up

24Occupational pension schemes during winding up

25Occupational pension schemes after winding up for individual members

26Giving information and documents

27Provision of information on a website

28Provision of information on a website: supplemental

29Giving information and documents in certain cases

30Responsibility for giving information and documents

SCHEDULE 1Description of schemes

1(1) An occupational pension scheme falls within this paragraph if...

2A personal pension scheme falls within this paragraph if it...

SCHEDULE 2Basic information

PART 1Information to be given by occupational pension schemes that fall within paragraph 1 of Schedule 1

1The conditions persons must meet to become members of the...

2How persons who are eligible to be members of the...

3A summary of what can be done with a member’s...

4A statement relating to the matters mentioned in paragraph 3—...

5Whether the scheme is a tax registered scheme or, if...

6A statement that explains whether transfers can be made into...

7The arrangements, if any, for the payment by members of...

8A summary of how the contributions, if any, payable by...

9Where the scheme is the National Employment Savings Trust Corporation...

10A statement that— (a) the Pensions Advisory Service is available...

11The postal and electronic address at which each of the...

12Except where the scheme has no relevant employment which is...

13If a member of the scheme has to give a...

14Whether, and if so on what conditions (if any), a...

15The following information about benefits payable under the scheme (referred...

16Where the member has money purchase benefits, a statement that...

17Except where the scheme is a public service pension scheme,...

18(1) The scheme’s internal dispute resolution arrangements.

19The following information about benefits payable under the scheme (referred...

20A statement that explains whether transfers can be made into...

21A summary of what can be done with a member’s...

22A statement relating to the matters mentioned in paragraph 21—...

23(1) The scheme’s internal dispute resolution arrangements.

24A statement that— (a) the Pensions Advisory Service is available...

25The postal address and electronic address at which each of...

26A statement setting out— (a) which benefits are funded and...

27A statement that most of the provisions of the 1995...

28Where the member has money purchase benefits, a statement that...

PART 3Lifestyling

29A statement explaining lifestyling, its advantages and disadvantages, and either—...

SCHEDULE 3Information to be given on request

PART 1Information on the constitution of the scheme

1The contents of any trust deed or document under which...

2The scheme rules.

3The contents of any document that supplements or alters in...

4The name and postal and electronic address of every person...

PART 2Information in the annual report etc.

5A copy of the appropriate audited accounts or auditor’s statements...

6If Part 3 of the 2004 Act applies, a copy...

7Any of the information listed in Part 5 of this...

PART 3Information on funding principles and actuarial valuations etc.

8The latest statement of funding principles where required under section...

9Where Part 3 of the 2004 Act applies to the...

10Where Part 3 of the 2004 Act applies to the...

11Any recovery plan prepared under section 226 of the 2004...

12The latest payment schedule under section 87 of the 1995...

13The latest statement of principles governing decisions about investments where...

14A summary of the winding up procedure under section 231A...

PART 4Information on transfer credits

15Whether the member or prospective member is entitled to acquire...

16A statement of any transfer credits referred to in paragraph...

17The names of the persons who are trustees of the...

18The provisions of the scheme in relation to the appointment...

19The names of the professional advisers and of such banks,...

20The postal and electronic address to which enquiries about the...

21The number of beneficiaries and active, deferred and pensioner members...

22Except in the case of a money purchase scheme, the...

23Except in the case of a money purchase scheme that...

24A statement as to whether the accounts have been prepared...

25If the auditor’s statement made in accordance with regulations made...

26If such situation as is mentioned in paragraph 25 in...

27Who has managed the investments of the scheme during the...

28Whether the trustees have produced a statement of the principles...

29Except in relation to a wholly insured scheme, a statement...

30Where the scheme is one to which section 35 of...

31A copy of any statement made on the resignation or...

32Except where the scheme is a trust scheme that applies...

33(1) Where the scheme is a trust scheme that applies...

SCHEDULE 4Summary funding statements

1A summary that— (a) explains the extent to which the...

2In the case of the first summary funding statement issued...

3In the case of any subsequent summary funding statement, an...

4The actuary’s estimate of solvency contained in the last actuarial...

5A summary of any recovery plan prepared under section 226...

6A statement explaining— (a) whether the scheme has been modified...

7Where there has been a modification, directions or a schedule...

8A statement explaining whether any payment to the employer under...

9Where a payment referred to in paragraph 8 has been...

SCHEDULE 5Statements of benefits: non money purchase benefits

PART 1Information for active members

1The amount of any benefits (and how they are calculated)...

2One of the following amounts, chosen by the trustees or...

3The amount of the member’s pensionable remuneration on a date...

PART 2Information for active and deferred members

4The date on which the member’s pensionable service started.

5A summary of the method for calculating the member’s benefits...

6Details of how any deduction from benefits is calculated.

PART 3Information for deferred members

7The date the member’s pensionable service ended.

8The amount of the member’s benefits and survivors’ benefits payable...

9The amount of the member’s pensionable remuneration on the date...

PART 4Information for pension credit members

10The amount of the member’s benefits and survivors’ benefits payable...

11A summary of the method for calculating the member’s benefits...

12Details of how any deduction from benefits is calculated.

SCHEDULE 6Statements of benefits: money purchase benefits

PART 1Information for all money purchase members

1The amount of contributions (before any deductions are made) credited...

2Where an occupational pension scheme was a contracted-out scheme at...

3(1) Where a personal pension scheme was an appropriate scheme...

4The value of the member’s accrued rights under the scheme...

5Any cash equivalent in respect of the transfer of the...

PART 2Pension illustration

6(1) An illustration of the amount of the pension—

7(1) The amount referred to in paragraph 6 must be...

8(1) The assumptions are— (a) where the calculation relates to...

9A statement that the information given under this Part is...

10A statement of how the person to whom the information...

11A statement that general assumptions have been made.

12A statement that any amounts in the information given under...

13The member’s retirement date used for the purposes of the...

14The illustration date used for the purposes of the information...

PART 3Further information to be given on pension illustration

15A statement that— (a) assumptions have been made about the...

16A statement that the amount of any pension payable under...

17A statement of any— (a) assumptions made relating to future...

SCHEDULE 7Information to be given by schemes that relates to accessing benefits

PART 1Information to be given to persons having an opportunity to select an annuity

1A statement that the person has an opportunity to select...

2A statement that the person has an opportunity to select...

3A statement that different annuities have different features and different...

4Either— (a) an explanation of the characteristic features of the...

5A statement that the person should consider taking advice about...

PART 2Information on accessing benefits for members and survivors

6The amount of benefit that is payable.

7If benefit is payable periodically— (a) any conditions for continuing...

8Any rights and options that persons have on the death...

9Any procedures for exercising the rights and options referred to...

10The provisions (or, as the case may be, a statement...

SCHEDULE 8Information to be given by schemes about winding up

PART 1Information to be given by occupational pension schemes during winding up

1A statement that the scheme is being wound up.

2The reasons why the scheme is being wound up.

3Where section 22 of the 1995 Act (circumstances in which...

4In the case of active members, whether death in service...

5A summary of the action that is being taken, and...

6An estimate of when— (a) the scheme’s liabilities are likely...

7Either— (a) an indication of the extent to which (if...

PART 2Information to be given by occupational pension schemes after winding up

8Whether the member or beneficiary’s benefits are reduced because the...

9The amount of any reduction of the member’s, or beneficiary’s,...

10Who has or will become liable for the payment of...

PART 3Information to be given by personal pension schemes after winding up

11(1) The amount of— (a) contributions (before the making of...

12At a date specified by the managers of the scheme...

13The options available to a member for preserving, transferring or...

14An account of the amount by which the member’s accrued...

PART 4Report under section 72A of the 1995 Act

15Where a report has been made to the Regulator under...

PART 5Information on expected benefits

16An estimate of the amount of the member’s and beneficiary’s...

SCHEDULE 9Amendments to Regulations

1The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991

2The Occupational Pension Schemes (Contracting-out) Regulations 1996

3The Occupational Pension Schemes (Transfer Values) Regulations 1996

4The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996

5The Occupational Pension Schemes (Winding Up) Regulations 1996

6The Occupational Pension Schemes (Discharge of Liability) Regulations 1997

7The Pensions on Divorce etc. (Provision of Information) Regulations 2000

8The Pension Sharing (Pension Credit Benefit) Regulations 2000

9The Stakeholder Pension Schemes Regulations 2000

10The Personal Pension Schemes (Payments by Employers) Regulations 2000

11The Occupational Pension Schemes (Winding Up Notices and Reports etc.) Regulations 2002

12The Occupational Pension Schemes (Independent Trustee) Regulations 2005

13The Occupational Pension Schemes (Winding up etc.) Regulations 2005

14The Occupational Pension Schemes (Scheme Funding) Regulations 2005

15The Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006

16The Occupational Pension Schemes (Payments to Employer) Regulations 2006

17The Application of Pension Legislation to the National Employment Savings Trust Corporation Regulations 2011

18The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011

2013 No. 2734

Pensions

The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

Made24th October 2013

Laid before Parliament31st October 2013

Coming into force6th April 2014

The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 113, 168(4), 181(1), 182(2) and (3) and 183(1) of the Pension Schemes Act 19931, sections 10(3), 41(1), (5), (5A) and (6), 124(1) and 174(2) and (3) of the Pensions Act 19952 and sections 1(1)(b), 8(1) and 83(4) to (6) of the Welfare Reform and Pensions Act 19993.

In accordance with section 185(1) of the Pension Schemes Act 19934 and section 120(1) of the Pensions Act 1995, the Secretary of State has consulted with such persons as the Secretary of State considers appropriate.