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

Regulations 6(2), 7(2), 8(1) and 18(1)

SCHEDULE 2 E+W+S Basic information

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

1.  The conditions persons must meet to become members of the scheme and a summary of the categories of persons who are eligible to become members of the scheme. E+W+S

2.  How persons who are eligible to be members of the scheme are admitted to it. E+W+S

3.  A summary of what can be done with a member's accrued rights where the member leaves pensionable service before normal pension age, including whether accrued rights can be transferred out of the scheme, converted into an annuity [F1 , designated as available for the payment of drawdown pension] and commuted to a lump sum. E+W+S

Textual Amendments

F1 Words in Sch. 2 para. 3 inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(2)

4.  A statement relating to the matters mentioned in paragraph 3— E+W+S

(a) as to whether a charge may be made, and

(b) that further information is available on request.

[F2 4A.   Where the member has flexible benefits, a statement explaining the circumstances in which the member may transfer accrued rights to flexible benefits out of the scheme. E+W+S

Textual Amendments

F2 Sch. 2 paras. 4A, 4B inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(3)

4B.   [F3 Subject to paragraph 4C] where the member has safeguarded benefits (which has the meaning given in section 48(8) of the Pension Schemes Act 2015 (independent advice in respect of conversions and transfers)), a statement that the member may be required to take independent advice before the member may— E+W+S

(a) convert any of the safeguarded benefits into different benefits that are flexible benefits under the scheme;

(b) transfer safeguarded benefits to another pension scheme with a view to acquiring a right or entitlement to flexible benefits; and

(c) withdraw an uncrystallised funds pension lump sum (which has the meaning given in paragraph 4A of Schedule 29 to the Finance Act 2004 (uncrystallised funds pension lump sum)).]

Textual Amendments

F2 Sch. 2 paras. 4A, 4B inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(3)

F3 Words in Sch. 2 para. 4B inserted (6.4.2016) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/294), regs. 1, 10(2)

[F4 4C.   Paragraph 4B does not apply to a member of an occupational pension scheme that is an unfunded public service defined benefits scheme, unless it is a scheme in relation to which section 95(2A)(a)(i) of the 1993 Act has been disapplied, pursuant to section 95(2B) of that Act (ways of taking right to cash equivalent).] E+W+S

Textual Amendments

F4 Sch. 2 para. 4C inserted (6.4.2016) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/294), regs. 1, 10(3)

5.  Whether the scheme is a tax registered scheme or, if not, whether an application for the scheme to become a tax registered scheme is under consideration by the Commissioners for Her Majesty's Revenue and Customs. E+W+S

6.  A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with [F5 Chapters 1 and 2 of Part 4ZA of the 1993 Act (transfers and contribution refunds)]. E+W+S

Textual Amendments

F5 Words in Sch. 2 para. 6 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(4)

7.  The arrangements, if any, for the payment by members of additional voluntary contributions. E+W+S

8.  A summary of how the contributions, if any, payable by the employer and the member are calculated. E+W+S

9.  Where the scheme is the National Employment Savings Trust Corporation established under section 75(1) of the Pensions Act 2008 M1 , a statement of the maximum amount, if any, of contributions that may be paid in any tax year in relation to a member of the scheme. E+W+S

Marginal Citations

M1 2008 c.30.

10.  A statement that— E+W+S

(a) the [F6 Money and Pensions Service] is available at any time to assist members and beneficiaries with—

(i) pensions questions, and

(ii) issues they have been unable to resolve with the trustees or managers of the scheme,

(b) the Pensions Ombudsman M2 may investigate and determine certain complaints or disputes about pensions that are referred to the Ombudsman in accordance with the 1993 Act, and

(c) the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

Textual Amendments

F6 Words in Sch. 2 para. 10(a) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 22(a)

Marginal Citations

M2 The Pensions Ombudsman is appointed under section 145(2) of the 1993 Act.

11.  The postal and electronic address at which each of the bodies referred to in paragraph 10 may be contacted. E+W+S

F7 12.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E+W+S

Textual Amendments

F7 Sch. 2 para. 12 omitted (6.4.2017) by virtue of The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(3), 32

13.  If a member of the scheme has to give a period of notice to terminate their pensionable service, the length of that period of notice. E+W+S

14.  Whether, and if so on what conditions (if any), a member of the scheme, whose pensionable service has terminated before normal pension age, may re-enter pensionable service. E+W+S

15.  The following information about benefits payable under the scheme (referred to in this paragraph as “ benefits”)— E+W+S

(a) what the benefits are,

(b) how benefits are calculated,

(c) how the scheme defines pensionable earnings, if appropriate,

(d) how and when benefits in payment are increased, if appropriate,

(e) the rate at which rights to benefits accrue, if appropriate,

(f) the conditions on which benefits are payable,

(g) when benefits (including survivor's benefits) are payable.

16.  Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid [F8 , any cost of exercising any right to transfer the benefits, any charges payable, the age at which the member accesses the benefits”], the performance of [F9 investments and any] cost of converting the benefit into an annuity. E+W+S

Textual Amendments

F8 Words in Sch. 2 para. 16 inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(5)(a)

F9 Words in Sch. 2 para. 16 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(5)(b)

[F10 16A.   Where the member has rights to cash balance benefits, a statement that the value of the pension will depend on several factors including the amount of contributions paid[F11 , any cost of exercising any right to transfer the benefits, any charges payable, the age at which the member accesses the benefits], any guaranteed interest or bonuses [F12 applied and any] cost of converting the benefits into an annuity.] E+W+S

Textual Amendments

F10 Sch. 2 para. 16A inserted (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 79(6)(a) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

F11 Words in Sch. 2 para. 16A inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(6)(a)

F12 Words in Sch. 2 para. 16A substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(6)(b)

17.  Except where the scheme is a public service pension scheme, a statement that the scheme annual report will be given on request. E+W+S

18.—(1) The scheme's internal dispute resolution arrangements. E+W+S

(2) The postal or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within section 50(8) of the 1995 Act M3 (requirement for dispute resolution arrangements).

Marginal Citations

M3 Section 50 was substituted by the 2004 Act, section 273 and there are no relevant amendments.

PART 2 E+W+S Information to be given by occupational pension schemes not falling within paragraph 1 of Schedule 1 and schemes that are established under the Salvation Army Act 1963

19.  The following information about benefits payable under the scheme (referred to in this paragraph as “ benefits”)— E+W+S

(a) what the benefits are,

(b) how benefits are calculated,

(c) how the scheme defines pensionable earnings, if appropriate,

(d) how and when benefits in payment are increased, if appropriate,

(e) the rate at which rights to benefits accrue, if appropriate,

(f) the conditions on which benefits are payable,

(g) when benefits (including survivor's benefits) are payable.

20.  A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with [F13 Chapters 1 and 2 of Part 4ZA] of the 1993 Act. E+W+S

Textual Amendments

F13 Words in Sch. 2 para. 20 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(7)

21.  A summary of what can be done with a member's accrued rights where the member leaves pensionable service before normal pension age, including whether the accrued rights can be transferred out of the scheme, converted into an annuity [F14 , designated as available for the payment of drawdown pension] and commuted to a lump sum. E+W+S

Textual Amendments

F14 Words in Sch. 2 para. 21 inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(2)

22.  A statement relating to the matters mentioned in paragraph 21— E+W+S

(a) as to whether a charge may be made, and

(b) that further information is available.

[F15 22A.   Where the member has flexible benefits, a statement explaining the circumstances in which the member may transfer accrued rights to flexible benefits out of the scheme. E+W+S

Textual Amendments

F15 Sch. 2 paras. 22A, 22B inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(8)

22B.   [F16 Subject to paragraph 22C] where the member has safeguarded benefits (which has the meaning given in section 48(8) of the Pension Schemes Act 2015), a statement that the member may be required to take independent advice before the member may— E+W+S

(a) convert any of the safeguarded benefits into different benefits that are flexible benefits under the scheme;

(b) transfer safeguarded benefits to another pension scheme with a view to acquiring a right or entitlement to flexible benefits; and

(c) withdraw an uncrystallised funds pension lump sum (which has the meaning given in paragraph 4A of Schedule 29 to the Finance Act 2004).]

Textual Amendments

F15 Sch. 2 paras. 22A, 22B inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(8)

F16 Words in Sch. 2 para. 22B inserted (6.4.2016) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/294), regs. 1, 10(4)

[F17 22C.   Paragraph 22B does not apply to a member of an occupational pension scheme that is an unfunded public service defined benefits scheme, unless it is a scheme in relation to which section 95(2A)(a)(i) of the 1993 Act has been disapplied, pursuant to section 95(2B) of that Act.] E+W+S

Textual Amendments

F17 Sch. 2 para. 22C inserted (6.4.2016) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/294), regs. 1, 10(5)

23.—(1) The scheme's internal dispute resolution arrangements. E+W+S

(2) The postal or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within section 50(8) of the 1995 Act.

24.  A statement that— E+W+S

(a) the [F18 Money and Pensions Service] is available at any time to assist members and beneficiaries with—

(i) pensions questions, and

(ii) issues they have been unable to resolve with the trustees or managers of the scheme,

(b) the Pensions Ombudsman may investigate and determine certain complaints or disputes about pensions that are referred to the Ombudsman in accordance with the 1993 Act, and

(c) the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

Textual Amendments

F18 Words in Sch. 2 para. 24(a) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 22(b)

25.  The postal address and electronic address at which each of the bodies referred to in paragraph 24 may be contacted. E+W+S

[F19 26.   A statement setting out— E+W+S

(a) which benefits—

(i) are provided by means of the setting aside of resources (other than assets at the disposal of the employer of any person who is employed in relevant employment) for a benefit, before the benefit becomes payable, that are related to the intended rate or amount of benefit; and

(ii) are not provided by that means; and

(b) the manner in which any benefits mentioned in sub-paragraph (a)(i) are secured.]

Textual Amendments

F19 Sch. 2 para. 26 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2015 (S.I. 2015/482), regs. 1, 11(9)

27.  A statement that most of the provisions of the 1995 Act do not apply to the scheme. E+W+S

28.  Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid, the performance of investments and the cost of converting the benefit into an annuity. E+W+S

[F20 28A.   Where the member has rights to cash balance benefits, a statement that the value of the pension will depend on several factors including the amount of contributions paid, any guaranteed interest or bonuses applied and the cost of converting the benefits into an annuity.] E+W+S

Textual Amendments

F20 Sch. 2 para. 28A inserted (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 79(6)(b) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

PART 3 E+W+S Lifestyling

29.  A statement explaining lifestyling, its advantages and disadvantages, and either— E+W+S

(a) that lifestyling will be adopted, indicating when lifestyling is likely to be adopted, or

(b) that lifestyling has been adopted.