The Personal Pension Schemes (Disclosure of Information) Regulations 1987 (revoked)

Changes over time for: Section 5

Version Superseded: 06/04/2014

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01/01/2014- Amendment
01/01/2014
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06/04/2014- Amendment

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Information to be made available to individualsU.K.

5.—(1) Subject to the provisions of [F1regulations 2 and 2A], the trustees of any scheme shall furnish in writing the information specified in Schedule 2, to the persons in the categories and in the circumstances specified in paragraphs (2) to (8).

[F2(2) Each member of the scheme except an excluded person, at least once in every period of 12 months after the date the member became a member of the scheme, must be furnished as of course with—

(a)the information mentioned in paragraphs 1, 2 and 12 of Schedule 2; and

(b)subject to paragraph (2A) of this regulation, the information mentioned in paragraph 2A(1) of Schedule 2.

(2ZA) Where information is furnished in accordance with paragraph (2)(b)—

(a)it must be accompanied by the additional information specified in paragraph 2A(6) of Schedule 2; and

(b)the member referred to in paragraph (2) must be provided with the further information specified in paragraph 2A(7) of Schedule 2 by one of the methods in paragraph (2C) of this regulation.]

[F3(2A) The requirement under paragraph (2) above to furnish the information mentioned in paragraph 2A of Schedule 2 shall not apply—

(a)in respect of a person who is in receipt of pension benefits under the scheme; or

(b)where the specified date referred to in paragraph 2(a) of Schedule 2 is not more than 2 years before the date which is the member’s retirement date for the purpose of paragraph 2A of Schedule 2; or

(c)where, in relation to the member—

(i)the value, determined by reference to the relevant guidance, of his accrued rights to money purchase benefits under the scheme was less than £5,000 on the illustration date in respect of which such information was last furnished to him;

(ii)no contributions, including transfers of pension rights or pension credits, have been made to the scheme by him or on his behalf in respect of money purchase benefits since that date; and

(iii)the trustees previously gave notice to the member that no further such information would be furnished to him unless further contributions to the scheme in respect of money purchase benefits had first been made by him or on his behalf; or

(d)where, in relation to the member—

(i)the value, determined by reference to the relevant guidance, of his accrued rights to money purchase benefits under the scheme is less than £5,000 on the first illustration date falling after 5th April 2003;

(ii)no contributions, including transfers of pension rights or pension credits, have been made to the scheme by him or on his behalf after 5th April 2003; and

(iii)no further contributions are, in the opinion of the trustees, likely to be made to the scheme by him or on his behalf after that illustration date; or

(e)where the specified date referred to in paragraph 2(a) of Schedule 2 is before 6th April 2003.

(2B) Where paragraph (2A) applies but the trustees of the scheme nevertheless choose to furnish the information described in paragraph 2A(1) of Schedule 2 and the amount comprising that information is calculated in accordance with sub-paragraphs (2) to (5) of that paragraph, [F4then—

(a)that information must be accompanied by the additional information specified in paragraph 2A(6) of Schedule 2; and

(b)the further information specified in paragraph 2A(7) of Schedule 2 must be provided by one of the methods in paragraph (2C) of this regulation,

as if that additional and further information had been provided under paragraph 2A(1) of Schedule 2.]]

[F5(2C) The methods referred to in paragraphs (2ZA)(b) and (2B)(b) are for the further information to—

(a)accompany the information described in paragraph 2A(1) of Schedule 2; or

(b)be otherwise furnished by the trustees of the scheme.]

(3) F6...The information mentioned in paragraph 3 of Schedule 2 shall be sent, as of course, to each memberF6..., not less than 4 months before the last date on which he may make contributions to the scheme, so however that where—

(a)his expected date of retirement is earlier or later than the last date on which he may make contributions to the scheme, and

(b)he has given the trustees not [F7more than 12 nor] less than 5 months' prior notice in writing of that expected date,

that information shall be sent [F8within one month of the date on which the trustees receive that notice].

F9(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) Where a member of, or a beneficiary under, a scheme has died and rights or options are available to a person in consequence, the information mentioned in paragraphs 5 and 6 of Schedule 2 shall be furnished—

(a)as of course to that person, if he is at least 18 years old and his address is known to the trustees, as soon as practicable after the trustees receive notification of the death; and

(b)on request (not being a request made within 3 years of the last occasion on which information was furnished under this paragraph to the same person in the same capacity) to any person who is a personal representative of the deceased person or who is authorised to act on behalf of the person to whom rights or options under the scheme are available in consequence of the death, as soon as practicable after he requests it.

F10(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F11(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F12(7A) Where a stakeholder pension scheme within the meaning of section 1 of the Welfare Reform and Pensions Act 1999 (meaning of “stakeholder pension scheme”) is removed from the register of such schemes kept under section 2 of that Act (registration of stakeholder pension schemes) the trustees shall—

(a)within 2 weeks of being notified of the removal from the register inform each member of the scheme except an excluded person that the scheme has been removed from the register of stakeholder pension schemes and is no longer a stakeholder pension scheme and that it is required to commence winding-up under the scheme rules;

(b)as soon as practicable and in any event not more than 4 months after such removal provide each member of the scheme except an excluded person with the information mentioned in paragraphs 1, 2 and 7 of Schedule 2; and

(c)where the scheme is unable to meet in full its liabilities to its members, as soon as is practicable and in any event not more than 4 months after such removal provide each member except an excluded person with the information mentioned in paragraph 8 of Schedule 2.]

(8) Where F13...it has been decided to [F14wind up the scheme] or otherwise to cause it to cease accepting contributions or to cause it to cease to manage the contributions already paid to it, the trustees of the scheme shall—

(a)inform each member [F15except an excluded person] of that decision as soon as practicable, and in any event not more than 4 weeks after it was made;

(b)furnish each member [F16except an excluded person] as soon as practicable, and in any event not more than 4 months after the decision was made, with the information mentioned in paragraphs 1, 2 and 7 of Schedule 2; and

(c)where the scheme is unable to meet in full its liabilities to its members, furnish each member [F17except an excluded person] as soon as practicable, and in any event not more than 4 months after the decision was made, with the information mentioned in paragraph 8 of Schedule 2.

F18(9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F19(9A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(10) When any information is provided in accordance with the foregoing provisions of this regulation it shall be accompanied by a written statement that further information about the scheme is available, giving the address to which enquiries about it should be sent.

Textual Amendments

F1Words in reg. 5(1) substituted (1.2.2000) by The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403), regs. 1(2), 26(3)(a)

F2 Reg. 2 - Reg. 2ZA substituted for Reg. 2 (1.12.2010) by The Occupational, Personal and Stakeholder Pension Schemes (Disclosure of Information) (Amendment) Regulations 2010 (S.I. 2010/2659), regs. 1(2), 2(4)(a)

F3Reg. 5(2A) - Reg. 5(2B) inserted (6.4.2003) by The Occupational and Personal Pension Schemes (Disclosure of Information) Amendment Regulations 2002 (S.I. 2002/1383), regs. 1(1), 2(3)(b)

F4Words in reg. 5(2B) substituted (1.12.2010) by The Occupational, Personal and Stakeholder Pension Schemes (Disclosure of Information) (Amendment) Regulations 2010 (S.I. 2010/2659), regs. 1(2), 2(4)(b)

F5Reg. 5(2C) inserted (1.12.2010) by The Occupational, Personal and Stakeholder Pension Schemes (Disclosure of Information) (Amendment) Regulations 2010 (S.I. 2010/2659), regs. 1(2), 2(4)(c)

F6Words in reg. 5(3) omitted (6.4.2012) by virtue of The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) Order 2011 (S.I. 2011/1246), arts. 1(2)(a), 2(3)(a)

F7Words in reg. 5(3)(b) inserted (28.9.1992) by S.I. 1992/1531, reg. 1(1)(b), 20(b)(i)

F8Words in reg. 5(3) substituted (28.9.1992) by S.I. 1992/1531, reg. 1(1)(b), 20(b)(ii)

F9Reg. 5(4) omitted (6.4.2012) by virtue of The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) Order 2011 (S.I. 2011/1246), arts. 1(2)(a), 2(3)(b)

F10Reg. 5(6) omitted (6.4.2012) by virtue of The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I. 2011/1245), regs. 1(2), 2(5)(a)

F11Reg. 5(7) omitted (6.4.2012) by virtue of The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I. 2011/1245), regs. 1(2), 2(5)(a)