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The Occupational Pension Schemes (Charges and Governance) Regulations 2015

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  1. Introductory Text

  2. PART 1 INTRODUCTION

    1. 1.Citation and commencement

    2. 2.Interpretation

    3. 3.Default arrangement

  3. PART 2 RESTRICTIONS ON CHARGES

    1. CHAPTER 1 DEFAULT ARRANGEMENTS, NON-CONTRIBUTING MEMBERS AND PAYMENTS TO ADVISERS

      1. 4.Restrictions on charges

      2. 5.Prohibited charge structures

      3. 6.Limits on charges

      4. 7.Assessment of charges

      5. 8.Alternative assessment of charges

      6. 9.Member agreement for services

      7. 10.Charge limits adjustment

      8. 11.Non-contributing members

      9. 11A.Payments to advisers

      10. 11B.Relevant information

      11. 11C.Member agreement for payments to advisers

      12. 12.Amendment of the Stakeholder Pension Schemes Regulations 2000

      13. 13.Amendments of other regulations

    2. CHAPTER 2 RESTRICTIONS ON EARLY EXIT CHARGES

      1. 13A.Early exit charges

      2. 13B.Prohibition of early exit charges

      3. 13C.Limits on early exit charges

      4. 13D.Conflicting contract terms

      5. 13E.Relevant information

  4. PART 3

    1. CHAPTER 1 GOVERNANCE OF RELEVANT SCHEMES

      1. 14.Definition of “relevant scheme”

      2. 15.Appointment of service providers

      3. 16.Appointment of chair of trustees or managers

      4. 17.Annual statement regarding governance

      5. 18.Requirements for processing financial transactions

      6. 19.Assessment of charges and costs

      7. 20.Requirements relating to default arrangement

    2. CHAPTER 2 ADDITIONAL GOVERNANCE REQUIREMENTS FOR RELEVANT MULTI-EMPLOYER SCHEMES

      1. 21.Definition of “relevant multi-employer scheme”

      2. 22.Additional requirements for relevant multi-employer schemes

      3. 23.Administration Regulations: further amendment

  5. PART 4 COMPLIANCE

    1. 24.Amendment of the Register of Occupational and Personal Pension Schemes Regulations 2005

    2. 25.Amendment of section 13 of the Pensions Act 2004

    3. 26.Compliance notices

    4. 27.Third party compliance notices

    5. 28.Penalty notices

    6. 29.Penalty notices: recovery

    7. 30.Penalty notices: recovery from bodies corporate and Scottish partnerships

    8. 31.Review of penalty notices

    9. 32.References to First-Tier Tribunal or Upper Tribunal

    10. 33.Service of notices

  6. Signature

  7. Explanatory Note

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