The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011

• Citation: S.I. 2011/672
• Sections: 8

Section 1 Citation and commencement

(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011.

(2) These Regulations come into force—

(a) for the purposes of this regulation and regulation 8, on 31st March 2011, and

(b) for all other purposes, on 6th April 2011.

Section 2 Amendment of the Personal Pension Schemes (Disclosure of Information) Regulations 1987

In paragraph 15 of Schedule 1 to the Personal Pension Schemes (Disclosure of Information) Regulations 1987 (basic information about the scheme) , for “Occupational Pensions Advisory Service Limited” substitute “Pensions Advisory Service ”.

Section 3 Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991

(1) The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 are amended as follows.

(2) In regulation 12 (transfer of member’s accrued rights without consent) —

(a) for paragraph (3), substitute—

(3) The condition set out in this paragraph is that—

(a) the relevant actuary gives a certification, by completing the certificate in Schedule 3, in relation to the members’ rights in the receiving scheme;

(b) the relevant actuary sends that certificate to the trustees or managers of the transferring scheme;

(c) the transfer takes place within 3 months of the date of the relevant actuary’s signature in the certificate; and

(d) there are no significant changes to the benefits, data and documents used in making the certificate (see the benefits, data and documents specified in the certificate) by the date on which the transfer takes place.

(b) in paragraph (4), for “paragraph (3)(a)” substitute “making the certification in paragraph 1 of the certificate in Schedule 3”, and

(c) in paragraph (4A), for “paragraph (3)(b)” substitute “making the certification in paragraph 2 of the certificate in Schedule 3”.

(3) After Schedule 2 (revocations), insert as Schedule 3 the Schedule specified in Schedule 1 to these Regulations.

Section 4 Amendment of the Protected Rights (Transfer Payment) Regulations 1996

(1) The Protected Rights (Transfer Payment) Regulations 1996 are amended as follows.

(2) For regulation 3C(8)(b) (transfer payment to certain schemes without the member’s consent) , substitute—

(b) the relevant actuary gives a certification, by completing the certificate in Schedule 3, in relation to the members’ protected rights in the receiving scheme;

(ba) the relevant actuary sends that certificate to the trustees or managers of the transferring scheme;

(bb) the transfer takes place within three months of the date of the relevant actuary’s signature in the certificate;

(bc) there are no significant changes to the benefits, data and documents used in making the certificate (see the benefits, data and documents specified in the certificate) by the date on which the transfer takes place; and

(3) After Schedule 2 (transitional provisions), insert as Schedule 3 the Schedule specified in Schedule 2 to these Regulations.

Section 5 Amendment of the Occupational Pension Schemes (Scheme Administration) Regulations 1996

At the end of regulation 3(1)(a)(i) of the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (exemptions from the professional advisers requirements) , insert “and”.

Section 6 Amendment of the Pension Sharing (Pension Credit Benefit) Regulations 2000

(1) The Pension Sharing (Pension Credit Benefit) Regulations 2000 are amended as follows.

(2) In regulation 10 (transfer of a person’s pension credit rights without consent)—

(a) for paragraph (3) , substitute—

(3) The condition set out in this paragraph is that, subject to paragraph (6)—

(a) the relevant actuary gives a certification, by completing the certificate in the Schedule, in relation to the person’s pension credit rights in the receiving scheme;

(b) the relevant actuary sends that certificate to the trustees or managers of the transferring scheme;

(c) the transfer takes place within 3 months of the date of the relevant actuary’s signature in the certificate; and

(d) there are no significant changes to the benefits, data and documents used in making the certificate (see the benefits, data and documents specified in the certificate) by the date on which the transfer takes place.

(b) in paragraph (4), for “paragraph (3)(b)” substitute “making the certification in paragraph 2 of the certificate in the Schedule”.

(3) Insert as the Schedule the Schedule specified in Schedule 3 to these Regulations.

Section 7 Amendment of the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006

In regulation 7 of the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 (notifications to employers and duty to consult) —

(a) at the end of paragraph (2)(b), insert—

, or

(c) where the person proposing the change employs all the affected members.

(b) for paragraph (3), substitute—

(3) A relevant employer must consult about the listed change in accordance with regulations 11 to 16 if—

(a) it employs all the affected members, or

(b) its employees appear to it to include affected members and it is a relevant employer who—

(i) has been notified under paragraph (1), or

(ii) falls within paragraph (2)(b).

Section 8 Amendment of the Occupational Pension Schemes (Fraud Compensation Levy) Regulations 2006

In regulation 3(3)(b) of the Occupational Pension Schemes (Fraud Compensation Levy) Regulations 2006 (the fraud compensation levy) , for “23” substitute “75”.