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

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 [F1 Chapters 1 and 2 of Part 4ZA] of the 1993 Act. E+W+S

Textual Amendments

F1 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 [F2 , designated as available for the payment of drawdown pension] and commuted to a lump sum. E+W+S

Textual Amendments

F2 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.

[F3 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

F3 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.   [F4 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

F3 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)

F4 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)

[F5 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

F5 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 [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 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. 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

[F7 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

F7 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

[F8 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

F8 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