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The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011

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Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations 1996E+W+S

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8.—(1) The Occupational Pension Schemes (Disclosure of Information) Regulations 1996 M1 are amended as follows.

(2) In regulation 5 (information to be made available to individuals)—

(a)for paragraph (7) substitute—

(7) Subject to paragraph (7ZA), where a scheme ceases to be a money purchase contracted-out scheme by virtue of section 15(1) of the Pensions Act 2007 M2, the trustees of the scheme shall inform each member in relation to whom the scheme has ceased to be such a scheme (“the affected member”), as soon as practicable, and in any event not more than 1 month after the abolition date, that the scheme is no longer a money purchase contracted-out scheme, and furnish the affected member, as soon as practicable and in any event not more than 4 months after the abolition date with—

(a)the information mentioned in paragraph 8 of Schedule 2, and

(b)except where the scheme is able to meet in full its liabilities to the affected member , the information mentioned in paragraph 10 of Schedule 2.,

(b)after paragraph (7) insert—

(7ZA) Paragraph (7) does not apply where the trustees of the scheme have informed the affected member of the date on which the scheme is to cease to be a money purchase contracted-out scheme and have furnished the information specified in paragraph (7)(a) and, if applicable, paragraph (7)(b), within the period of 12 months ending with the abolition date., and

(c)omit paragraph (7A) M3.

(3) In Schedule 1 (basic information about the scheme), in paragraph 10, omit the words from “, and whether the scheme is contracted-out” to the end.

(4) In Schedule 2 (information to be made available to individuals)—

(a)in paragraph 5(a), for “for the whole or any part of the period” substitute “ at any time before the abolition date ”,

(b)in paragraph 6ZA M4

(i)in sub-paragraph (3)(b)(i), at the end insert “ and ”,

(ii)omit sub-paragraph (3)(b)(iii), and the word “and” immediately preceding it, and

(iii)in sub-paragraph (7)(d) for “sub-paragraphs (3)(b)(iii) and (4)” substitute “ sub-paragraph (4) ”,

(c)in paragraph 8—

(i)paragraph 8 is renumbered as sub-paragraph (1) of that paragraph,

(ii)in sub-paragraph (1) as so renumbered, omit “in relation to the member's employment”, and

(iii)after sub-paragraph (1) as so renumbered, add—

(2) A statement that, as a result of no longer being a member of a contracted-out scheme, the member may build up entitlement to an additional state pension from the date the scheme ceased to be a money purchase contracted-out scheme., and

(d)omit paragraph 8A M5.

Marginal Citations

M3Regulation 5(7A) was inserted by S.I. 2000/2691.

M4Paragraph 6ZA was inserted by S.I. 2002/1383 and amended by S.I. 2005/2877 and 2010/2659.

M5Paragraph 8A was inserted by S.I. 2000/2691.

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