C1Part 1The Pensions Regulator

Annotations:
Modifications etc. (not altering text)
C1

Pt. 1 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1 Pt. 1 (as amended (17.7.2008) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 (S.I. 2008/1903), regs. 1, 5(2), 13; (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 5, 18; (2.4.2010) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/1149), regs. 1, 5, 15)

Gathering information

I1C273Inspection of premises

1

An inspector may, for the purposes of investigating whether, in the case of any occupational pension scheme, the occupational scheme provisions are being, or have been, complied with, at any reasonable time enter premises liable to inspection.

2

In subsection (1), the “occupational scheme provisions” means provisions contained in or made by virtue of—

a

any of the following provisions of this Act—

  • this Part;

  • Part 3 (scheme funding);

  • sections 241 to 243 (member-nominated trustees and directors);

  • sections 247 to 249 (requirement for knowledge and understanding);

  • section 252 (UK-based scheme to be trust with effective rules);

  • section 253 (F4non-UK scheme to be trust with UK-resident trustee);

  • section 255 (activities of occupational pension schemes);

  • section 256 (no indemnification for fines or civil penalties);

  • sections 259 and 261 (consultation by employers);

  • F5...

  • Part 9 (miscellaneous and supplementary);

b

either of the following provisions of the Welfare Reform and Pensions Act 1999 (c. 30)—

  • section 33 (time for discharge of pension credit liability);

  • section 45 (information);

c

any of the provisions of Part 1 of the Pensions Act 1995 (c. 26) (occupational pension schemes), other than—

i

sections 51 to 54 (indexation), and

ii

sections 62 to 65 (equal treatment);

d

any of the following provisions of the Pension Schemes Act 1993 (c. 48)—

  • F2Chapter 1 of Part 4ZA (transfer values);

  • F3Chapter 2 of Part 4ZA (early leavers: cash transfer sums and contribution refunds);

  • Chapter 2 of Part 4A (pension credit transfer values);

  • section 113 (information);

  • section 175 (levy);

F1da

section 16 of the Public Service Pensions Act 2013;

F12db

the Pension Schemes Act 2017;

dc

Part 1 of the Pension Schemes Act 2021;

e

any provisions in force in Northern Ireland corresponding to any provisions within paragraphs (a) to F13(dc) .

F62A

An inspector may, for the purposes of investigating whether the Regulator has grounds in the case of an occupational pension scheme for issuing—

a

a contribution notice under section 38 (contribution notices where avoidance of employer debt),

b

a financial support direction under section 43 (financial support directions),

c

a contribution notice under section 47 (contribution notices where non-compliance with financial support direction),

d

a restoration order under section 52 (restoration orders where transactions at an undervalue),

e

a contribution notice under section 55 (contribution notice where failure to comply with restoration order), or

f

a notice, direction or order under any corresponding provision in force in Northern Ireland,

at any reasonable time enter premises liable to inspection.

3

An inspector may, for the purposes of investigating whether, in the case of a stakeholder scheme—

a

sections 1 and 2(4) of the Welfare Reform and Pensions Act 1999 (stakeholder pension schemes: registration etc), or

b

any corresponding provisions in force in Northern Ireland,

are being, or have been, complied with, at any reasonable time enter premises liable to inspection.

4

An inspector may, for the purposes of investigating whether, in the case of any trust-based personal stakeholder scheme, the trust-based scheme provisions are being, or have been, complied with, at any reasonable time enter premises liable to inspection.

5

In subsection (4)—

  • “trust-based personal stakeholder scheme” means a personal pension scheme which—

    1. a

      is a stakeholder scheme, and

    2. b

      is established under a trust;

    the “trust-based scheme provisions” means any provisions contained in or made by virtue of—

    1. a

      any provision which applies in relation to trust-based personal stakeholder schemes by virtue of paragraph 1 of Schedule 1 to the Welfare Reform and Pensions Act 1999 (c. 30), as the provision applies by virtue of that paragraph, or

    2. b

      any corresponding provision in force in Northern Ireland.

F75A

An inspector may, for the purposes of investigating whether the relevant provisions are being, or have been, complied with in the case of a scheme, at any reasonable time enter premises liable to inspection.

5B

In subsection (5A), “the relevant provisions” means provisions contained in or made by virtue of—

a

such provisions of the pensions legislation as may be prescribed;

b

any provisions in force in Northern Ireland corresponding to the provisions so prescribed.

6

Premises are liable to inspection for the purposes of this section if the inspector has reasonable grounds to believe that—

a

members of the scheme are employed there,

b

documents relevant to the administration of the scheme are being kept there, F11...

c

the administration of the scheme, or work connected with that administration, is being carried out there.

F9d

documents relevant to the administration of the business of the employer in relation to the scheme are being kept there,

e

the administration of the business of the employer in relation to the scheme, or work connected with that administration, is being carried out there, or

f

in the case of an occupational pension scheme other than a money purchase scheme, a prescribed scheme or a scheme of a prescribed description, documents relevant to a change in the ownership of the employer or of a significant asset of the employer are being kept there.

F86A

In the application of this section in relation to a provision mentioned in subsection (1), (2A), (3), (4) or (5A), references in this section to “employer” are to be read as having the meaning that it has for the purposes of the provision in question.

6B

In this section a reference to an employer in relation to an occupational pension scheme includes a reference to a person who has been the employer in relation to the scheme.

7

F10this section-

“the pensions legislation” means any enactment contained in or made by virtue of—

a

the Pension Schemes Act 1993,

b

Part 1 or section 33 or 45 of the Welfare Reform and Pensions Act 1999,

c

this Act,

d

Schedule 18 to the Pensions Act 2014, or

e

section 48 or 49 of the Pension Schemes Act 2015;

“stakeholder scheme” means an occupational pension scheme or a personal pension scheme which is or has been registered under—

a

section 2 of the Welfare Reform and Pensions Act 1999 (register of stakeholder schemes), or

b

any corresponding provision in force in Northern Ireland.