The Occupational Pension Schemes (Investment, and Assignment, Forfeiture, Bankruptcy etc.) Amendment Regulations 1999

Explanatory Note

(This note is not part of the Regulations)

These Regulations amend regulations made under the Pensions Act 1995 in relation to occupational pension schemes.

Regulation 1 relates to citation and commencement.

Regulations 2 and 3 amend, respectively,—

• the Occupational Pension Schemes (Investment) Regulations 1996

• the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations 1997

Regulations 2 and 3 amend provisions governing the schemes and investments to which restrictions on employer-related investment do not apply, in particular in relation to small schemes and to loans to employers (regulations 2(2) and (3) and 3).

Regulation 2(4) inserts, in relation to trust schemes, provision as to matters to be included in the statement of investment principles required under section 35 of the Pensions Act 1995. The statement must, in addition to the matters mentioned in section 35, cover the extent to which social, environmental or ethical considerations are taken into account in investment decision making, and any policy the trustees have relating to the exercise of rights attaching to investments.