The Occupational Pension Schemes (Scheme Administration) Regulations 1996

PART IVE+W+S MONEY PURCHASE SCHEMES

[F1 Exemption from requirement to secure a payment scheduleE+W+S

17.  For the purposes of section 87(1) of the 1995 Act (requirement for occupational pension schemes which are money purchase schemes to secure and maintain a payment schedule unless the scheme falls within a prescribed class or description) the prescribed class or description is a money purchase scheme which falls within the descriptions referred to in—

(a) regulation 3(1)(a), (d), (f), (h) F2 ...; or

(b)regulation 3(1)(c) or (i) where any such scheme has fewer than 100 members.]

Amounts to be shown in a payment scheduleE+W+S

18.  For the purposes of section 87(2)(b) of the 1995 Act (payment schedule to show other amounts payable towards the scheme as may be prescribed) the prescribed amounts are amounts payable towards the scheme by the employer in respect of expenses likely to be incurred in the scheme year.

Requirements which a payment schedule must satisfyE+W+S

19.—(1) For the purposes of section 87(3) of the 1995 Act (payment schedule for a scheme must satisfy prescribed requirements) the prescribed requirements are that—

(a)the payment schedule shows amounts [F3 prescribed in regulation 18] payable in the scheme year [F4and];

(b)subject to paragraph (2), the payment schedule contains separate entries for the rates and due dates of contributions (other than voluntary contributions) payable towards the scheme by or on behalf of—

(i)the employer, and in the case of a scheme in relation to which there is more than one employer, each employer;

(ii)the active members of the scheme.

(2) In the case where an insurance premium is payable, the payment schedule need not contain separate entries for identifying the contributions payable by or on behalf of the employer and the active members of the scheme in respect of that premium.

Period within which notice must be givenE+W+S

F520.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Circumstances where notice of non-payment of any amount payable to a scheme need not be givenE+W+S

21.—F6(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) In the case of a scheme in relation to which there is more than one employer, notice of non-payment in respect of an amount payable in accordance with the payment schedule need not be given to members where their pensionable service is not with the employer who has not paid any amount in accordance with that payment schedule.

F7(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F8(4)  Where, under section 49(9)(b) of the 1995 Act (other responsibilities of trustees, employers, etc ), there is a requirement on the trustees or managers to give notice within a reasonable time of a failure to pay [F9 within a reasonable period ] an amount corresponding to any contribution payable on behalf of an active member which has been deducted from the member’s earnings, the trustees or managers shall not be required to give notice of a failure to pay such amount by the due date for the purposes of subsection (1) of section 88 of that Act, in a case to which that subsection would otherwise apply. ]