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The Occupational Pension Schemes (Charges and Governance) Regulations 2015

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The Occupational Pension Schemes (Charges and Governance) Regulations 2015 is up to date with all changes known to be in force on or before 21 November 2024. There are changes that may be brought into force at a future date. Help about Changes to Legislation

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  1. Introductory Text

  2. PART 1 INTRODUCTION

    1. 1.Citation and commencement

    2. 2.Interpretation

    3. 3.Default arrangement

    4. 3A.Qualifying collective money purchase schemes

  3. PART 2 RESTRICTIONS ON CHARGES

    1. CHAPTER 1 DEFAULT ARRANGEMENTS, qualifying collective money purchase schemes, NON-CONTRIBUTING MEMBERS AND PAYMENTS TO ADVISERS

      1. 4.Restrictions on charges

      2. 5.Prohibited charge structures - default arrangements

      3. 5A.Prohibited charge structures – qualifying collective money purchase schemes

      4. 6.Limits on charges - default arrangements

      5. 6A.Limits on charges – qualifying collective money purchase schemes

      6. 6ZA.Imposition of more than one flat fee charge

      7. 7.Assessment of charges - default arrangements

      8. 7A.Assessment of charges – qualifying collective money purchase schemes

      9. 8.Alternative assessment of charges - default arrangements

      10. 8A.Alternative assessment of charges – qualifying collective money purchase schemes

      11. 9.Member agreement for services

      12. 10.Charge limits adjustment

      13. 11.Non-contributing members

      14. 11A.Payments to advisers

      15. 11B.Relevant information

      16. 11C.Member agreement for payments to advisers

      17. 12.Amendment of the Stakeholder Pension Schemes Regulations 2000

      18. 13.Amendments of other regulations

    2. CHAPTER 2 RESTRICTIONS ON EARLY EXIT CHARGES

      1. 13A.Early exit charges

      2. 13B.Prohibition of early exit charges

      3. 13C.Limits on early exit charges

      4. 13D.Conflicting contract terms

      5. 13E.Relevant information

  4. PART 3

    1. CHAPTER 1 GOVERNANCE OF RELEVANT SCHEMES

      1. 14.Definition of “relevant scheme”

      2. 15.Appointment of service providers

      3. 16.Appointment of chair of trustees or managers

      4. 17.Annual statement regarding governance

      5. 18.Requirements for processing financial transactions

      6. 19.Assessment of charges and costs

      7. 20.Requirements relating to default arrangement

    2. CHAPTER 2 ADDITIONAL GOVERNANCE REQUIREMENTS FOR RELEVANT MULTI-EMPLOYER SCHEMES

      1. 21.Definition of “relevant multi-employer scheme”

      2. 22.Additional requirements for relevant multi-employer schemes

      3. 23.Administration Regulations: further amendment

  5. PART 4 COMPLIANCE

    1. 24.Amendment of the Register of Occupational and Personal Pension Schemes Regulations 2005

    2. 25.Amendment of section 13 of the Pensions Act 2004

    3. 26.Compliance notices

    4. 27.Third party compliance notices

    5. 28.Penalty notices

    6. 29.Penalty notices: recovery

    7. 30.Penalty notices: recovery from bodies corporate and Scottish partnerships

    8. 31.Review of penalty notices

    9. 32.References to First-Tier Tribunal or Upper Tribunal

    10. 33.Service of notices

  6. Signature

  7. Explanatory Note

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