The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005

Explanatory Note

(This note is not part of the Regulations)

These Regulations make minor amendments and correct certain cross references in the Pension Protection Fund (Compensation) Regulations 2005 (S.I. 2005/670) (“the Compensation Regulations”), the Occupational Pension Schemes (Employer Debt) Regulations 2005 (S.I. 2005/678) (“the Employer Debt Regulations”), the Pension Protection Fund (Entry Rules) Regulations 2005 (S.I. 2005/590) (“the Entry Rules Regulations”), the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441) (“the Multi-employer Regulations”), the Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations 2005 (S.I. 2005/669) (“the Review and Reconsideration Regulations”), the Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652) (“the Reviewable Ill Health Pensions Regulations”), the Pension Protection Fund (Valuation) Regulations 2005 (S.I. 2005/672) (“the Valuation Regulations”), and the Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005 (S.I. 2005/931). These Regulations will be issued free of charge to all known recipients of those Statutory Instruments.

Regulation 2 amends regulation 5(b) of the Compensation Regulations to correct a defective cross reference to the Pensions Act 2004 (c. 35).

Regulation 3 amends paragraph 1(2) of Schedule 2 to the Employer Debt Regulations to correct defective cross references.

Regulation 4 amends certain provisions of the Entry Rules Regulations and corrects a defective reference.

Regulation 5 similarly amends the Multi-employer Regulations.

Regulation 6 amends regulation 19 of the Review and Reconsideration Regulations to provide that the Reconsideration Committee must notify the Board of the Pension Protection Fund as well as any interested persons when it decides to reconsider a reviewable matter otherwise than on an application. It also makes further minor amendments including those consequential on the amended regulation 19.

Regulation 7 makes minor amendments to regulations 9 and 14 of the Reviewable Ill Health Pensions Regulations.

Regulation 8 similarly amends regulations 6 and 9 of the Valuation Regulations.

Regulation 9 makes an amendment to the Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005, which is consequential upon an amendment to one of the provisions of the Entry Rules Regulations made in regulation 4.

As these Regulations are made before the expiry of the period of six months beginning with the coming into force of the provisions of the Pensions Act 2004 by virtue of which they are made or, in the case of the amendment to the Employer Debt Regulations, on which they are consequential, the requirement for the Secretary of State to consult such persons as he considers appropriate does not apply.

A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business.