http://www.legislation.gov.uk/uksi/1996/1655/schedule/1/paragraph/18

The Occupational Pension Schemes (Disclosure of Information) Regulations 1996

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Statute Law Database

PENSIONS

2015-11-09

Expert Participation

2015-04-06

These Regulations replace the Occupational Pension Schemes (Disclosure of Information) Regulations 1986 which are now revoked. The Regulations supplement changes introduced by the Pensions Act 1995. They also consolidate and amend those provisions of the 1986 Regulations which are carried forward in these Regulations.The regulations made by virtue of Part I of the Pensions Act 1995 are made within 6 months of the coming into force of the provisions by virtue of which they are made, and, in consequence, the requirement for the Secretary of State to consult such persons as he considers appropriate does not apply. As regards other regulations, the Occupational Pensions Board has agreed that proposals to make regulations need not be referred to them.Regulation 1 relates to the citation, commencement and interpretation.Regulation 2 sets out the conditions for the application of these Regulations to an occupational pension scheme.Regulation 3 provides for the trustees to make available documents containing information about the constitution of the scheme for inspection by specified persons, and for copies to be furnished on request.Regulation 4 and Schedule 1 provide for certain basic information about the scheme to be given by the trustees to prospective or new members as of course and to members and other specified persons on request, and for material alterations to be drawn to the attention of members and other specified persons.Regulation 5 and Schedule 2 provide for the trustees to make information about individual entitlement available to specified persons in specified circumstances.Regulation 6 and Schedule 3 provide for the trustees to make available a document which contains the audited accounts, the actuarial statement and certain other information when requested by specified persons.Regulation 7 provides for the trustees to make available actuarial valuations, the schedule of contributions, the payment schedule and, statement of investment principles for inspection by specified persons, and for copies to be furnished on request.Regulation 8 and Schedule 1 provide for a limited disclosure requirement to be imposed on the trustees of occupational pension schemes which are not tax-approved or public service pension schemes.Regulation 9 provides that any question as to whether an organisation is an independent trade union recognised for the purposes of collective bargaining in relation to the scheme shall be referred to an industrial tribunal.Regulation 10 relates to the service of documents by post.Regulation 11 provides for the imposition of penalties by the Occupational Pensions Regulatory Authority where requirements imposed by the Regulations are not complied with.Revocations are made in regulation 12 and Schedule 4.An assessment of the compliance cost for employers of the measures arising from the Pensions Act 1995, including regulations, has been placed in the libraries of both Houses of Parliament. Copies can be obtained by post from the Department of Social Security, Private Pensions, 11th Floor, Adelphi, 1-11 John Adam Street, London WC2N 6HT.