The Stakeholder Pension Schemes Regulations 2000

Expenses, commission etc.—principles

13.—(1) Except to the extent permitted by regulation 14—

(a)no payment made to a stakeholder pension scheme by or on behalf of any member;

(b)no income or capital gain arising from the investment of such a payment;

(c)no amount credited to a member’s account in respect of a credit within the meaning of section 29 (pension sharing: creation of pension debits and credits); and

(d)no amount representing the value of any rights of a member under the scheme,

shall be used in any way which does not result in the provision of benefits for or in respect of members.

(2) Paragraph (1) does not apply—

(a)to the extent that section 31 (pension sharing: pension debits), or any enactment in force in Northern Ireland corresponding to that section, applies to reduce the benefits or future benefits to which a member may be entitled under the scheme; or

(b)to prevent the trustees or manager of a scheme from complying with their obligations under an order made by a court—

(i)under section 23 of the Matrimonial Causes Act 1973(1) (financial provision in connection with divorce proceedings, etc.) by virtue of section 25B or 25C of that Act (powers to include provision about pensions),

(ii)under Article 25 of the Matrimonial Causes (Northern Ireland) Order 1978(2) by virtue of Article 27B or 27C of that Order (Northern Ireland powers corresponding to section 25B and 25C of the Matrimonial Causes Act 1973), or

(iii)under section 12A(2) or (3) of the Family Law (Scotland) Act 1985(3) (powers in relation to pensions lump sums when making a capital sum order).

(3) In this regulation and in regulation 14 below “member” includes “beneficiary”.