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The Occupational Pension Schemes (Age-related Payments) Regulations 1997

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Penalties

10.  If any person fails, without reasonable excuse, to comply with any requirement imposed under regulations 8 or 9 in respect of regulations 5, 6 or 7 of these Regulations, the Occupational Pensions Regulatory Authority(1) may require that person to pay within 28 days a penalty which shall—

(a)in the case of an individual, not exceed £1,000, and

(b)in any other case, not exceed £10,000.

(1)

See section 1 of the Pensions Act 1995.

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