Pension Schemes Act 2021

122 The Money and Pensions Service: the pensions guidance function

In the Financial Guidance and Claims Act 2018, after section 4 (specific requirements as to the pensions guidance function) insert—

“4A Specific functions included in the pensions guidance function

(1) The single financial guidance body must provide a pensions dashboard service by means of which—

(a) information that the trustees or managers of a relevant occupational pension scheme are required to provide by—

(i) regulations under section 238D(1)(a)(ii) of the Pensions Act 2004, or

(ii) regulations under Article 215D(1)(a)(ii) of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), and

(b) information that specified authorised persons are required to provide by general rules under section 137FAA(1)(a)(ii) of the Financial Services and Markets Act 2000,

may be requested by, and provided to, an individual or a person authorised by the individual.

(2) The single financial guidance body may, by means of its pensions dashboard service, provide information about—

(a) state pensions,

(b) basic and additional retirement pensions, and

(c) state pension information relating to an individual.

(3) The single financial guidance body may carry out other functions relating to pensions dashboard services, including functions for which provision is made by—

(a) regulations under section 238A of the Pensions Act 2004 or Article 215A of the Pensions (Northern Ireland) Order 2005 (qualifying pensions dashboard services),

(b) regulations under section 238D of the Pensions Act 2004 or Article 215D of the Pensions (Northern Ireland) Order 2005 (information from occupational pension schemes), or

(c) general rules under section 137FAA of the Financial Services and Markets Act 2000 (information from personal or stakeholder pension schemes).

(4) The functions of the single financial guidance body referred to in subsections (1) to (3) are part of its pensions guidance function.

(5) Subsections (1) to (4) are without prejudice to sections 3(4) and (8) and 4.

(6) In this section—

• “pensions dashboard service” means—

  (a)

  a pensions dashboard service within the meaning of section 238A of the Pensions Act 2004, or

  (b)

  a pensions dashboard service within the meaning of Article 215A of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1));

• “relevant occupational pension scheme” has the meaning given by—

  (a)

  section 238F of the Pensions Act 2004, in relation to England and Wales and Scotland, and

  (b)

  Article 215F of the Pensions (Northern Ireland) Order 2005, in relation to Northern Ireland;

• “specified authorised person” has the meaning given by section 137FAC of the Financial Services and Markets Act 2000;

• “state pension”, “basic retirement pension”, “additional retirement pension” and “state pension information” have the meaning given by section 238C of the Pensions Act 2004.”