85.—(1) This Article applies to an occupational pension scheme which is a money purchase scheme, other than one falling within a prescribed class or description.
[F1(1A) Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 2 of the Pension Schemes Act 2021 (see section 52(2)(b) of that Act) is to be treated for the purposes of this Article and Article 86 as an occupational pension scheme which is a money purchase scheme.]
(2) The trustees or managers of every occupational pension scheme to which this Article applies must secure that there is prepared, maintained and revised a schedule (referred to in this Article and Article 86 as a “payment schedule”) showing—
(a)the rates of contributions payable towards the scheme by or on behalf of the employer and the active members of the scheme,
(b)such other amounts payable towards the scheme as may be prescribed, and
(c)the dates on or before which payments of such contributions or other amounts are to be made (referred to in those Articles as “due dates”).
(3) The payment schedule for a scheme must satisfy prescribed requirements.
(4) The matters shown in the payment schedule for a scheme—
(a)to the extent that the scheme makes provision for their determination, must be so determined, and
(b)otherwise—
(i)must be matters previously agreed between the employer and the trustees or managers of the scheme, or
(ii)if no such agreement has been made as to all matters shown in the schedule (other than those for whose determination the scheme makes provision), must be matters determined by the trustees or managers of the scheme.
(5) Where in the case of a scheme this Article is not complied with—
(a)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)Article 10 applies to any trustee or manager who has failed to take all such steps.
F1Art. 85(1A) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in operation) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 6 para. 9; S.R. 2022/197, art. 3(a)
F2Art. 85(5)(a) and the word "and" immediately after it repealed (6.4.2006) by Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), arts. 1(2), 290(1), 291, Sch. 10 para. 58, Sch. 11; S.R. 2006/95, art. 2(c), Sch. Pt. 3