Pension Schemes Act 2015 (c. 8)

PART 3 E+W+S General changes to legislation about pension schemes

Administration and governance E+W+S

Prospective

F1 36 Pensions promise obtained from third party E+W+S

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Textual Amendments

F1 S. 36 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

Prospective

F2 37 Duty to act in the best interests of members E+W+S

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Textual Amendments

F2 S. 37 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

38 Disclosure of information about schemes E+W+S

(1) Section 113 of the Pension Schemes Act 1993 (disclosure of information about schemes to members etc) is amended as follows.

F3 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) Before subsection (3) insert—

“(2A) In complying with requirements specified in the regulations, a person must have regard to any guidance prepared from time to time by the Secretary of State.”

F5 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5 (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3 S. 38(2) omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

F4 S. 38(3) omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

F5 S. 38(5)-(7) omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

Commencement Information

I1 S. 38(1)(4) in force at 18.9.2017 by S.I. 2017/916, reg. 3

Prospective

Early leavers E+W+S

F6 39 Extension of preservation of benefit under occupational pension schemes E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

F6 40 Revaluation of accrued benefits E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

Prospective

Indexation E+W+S

F6 41 Collective benefits exempt from indexation E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

F6 42 Regulatory own fund schemes exempt from indexation E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

F6 43 Power to create other exemptions from indexation E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

Prospective

Independent trustees E+W+S

F6 44 Removal of requirement to maintain register of independent trustees E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

Prospective

Rules about modification of schemes E+W+S

F6 45 Rules about modification of schemes E+W+S

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Textual Amendments

F6 Ss. 39-45 omitted (1.8.2022 for specified purposes) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(c), 131(1); S.I. 2022/721, regs. 1(2), 3(e)

Other amendments E+W+S

46 Other amendments to do with Parts 1 and 2 E+W+S

Schedule 2—

(a) contains amendments to do with Parts 1 and 2, and

(b) replaces references to “money purchase scheme” so as to limit the number of different ways of categorising pension schemes.

Commencement Information

I2 S. 46 partly in force; s. 46 in force for specified purposes at 6.4.2015, see s. 89(3)(a)