Schedules
Schedule 1: The Pensions Regulator
68.This Schedule will enable the Regulator to delegate any of its functions to an executive member of the Regulator, any other member of the staff of the Regulator, or any of its committees (other than the appointments committee, the Determinations Panel and any of that panel’s sub-committees). It also sets out the powers that the Regulator may authorise the Determinations Panel to exercise on its behalf.
Schedule 2: The Reserved Regulatory Functions
69.This Schedule lists the reserved regulatory functions of the Regulator which may be exercised on its behalf by the Determinations Panel. Part 1 lists those from the Pension Schemes Act; Part 2 from the 1995 Order; Part 3 from the 1999 Order; and, Part 4 lists the relevant functions under this Order.
Schedule 3: Restricted information held by the Regulator: certain permitted disclosures to facilitate exercise of functions
70.This Schedule provides a list of bodies to which the Regulator may disclose restricted information and the functions for which it can be disclosed.
Schedule 4: The Board of the Pension Protection Fund
71.This Schedule enables the Board to authorise any executive member of the Board; any other member of staff; or any of its committees or sub-committees to exercise functions of the Board. This Schedule also gives the Board the power to make arrangements for the exercise of certain of its functions on its behalf, in order to ensure that the mechanisms by which the PPF delivers its business are flexible enough to allow it to operate effectively from day one.
Schedule 5: Transfer of property, rights and liabilities to the Board of the PPF
72.This Schedule makes additional provision for situations where the assets and liabilities of a scheme are transferred to the Board. The property, rights and liabilities to be transferred include: property (situated anywhere in the UK or elsewhere); rights and liabilities that would not otherwise be able to be transferred or assigned; rights and liabilities under UK law.
Schedule 6: Pension compensation provisions
73.This Schedule explains how PPF compensation is to be paid to members of pension schemes for which the Board assumes responsibility.
Schedule 7: Restricted information held by the Board of the PPF: certain permitted disclosures to facilitate exercise of functions
74.This Schedule sets out the list of bodies to which the Board may disclose restricted information and the functions for which it can be disclosed.
Schedule 8: Reviewable matters
75.This Schedule sets out the list of “reviewable matters” that are subject to challenge.
Schedule 9: Deferral of retirement pension and shared additional pensions
76.This Schedule relates to the provisions of Part VIII; it provides the framework of the new deferral proposals. These changes are to be put into effect by amending and extending existing provisions. In this case, the key piece of legislation amended by this Schedule is Schedule 5 to the Contributions and Benefits Act, which currently details how increments are to be calculated where a person has deferred their pension.
Schedule 10 and Schedule 11: Minor and consequential amendments; Repeals
77.These Schedules make minor consequential amendments and repeals.
