The Occupational and Personal Pension Schemes (Levy) Regulations 1997

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Levy) Regulations 1997 and shall come into force on 1st April 1997.

(2) In these Regulations—

“the 1993 Act" means the Pension Schemes Act 1993;

“the 1995 Act" means the Pensions Act 1995;

“the previous Regulations" means the Occupational and Personal Pension Schemes (Levy) Regulations 1995 M1 ;

“address of the scheme" means the place in the United Kingdom, or if more than one, the principal place, at which the management of a registrable scheme is conducted;

“Compensation Board" means the Pensions Compensation Board M2 ;

“employer" means—

(a) in relation to an occupational pension scheme in which there are members in pensionable service, the employer of persons in the description or category of employment to which the scheme relates; and

(b) in relation to an occupational pension scheme which is a frozen scheme, the person who was the employer of persons in the description or category of employment to which the scheme related immediately before the occurrence of the event after which the scheme became a frozen scheme;

“frozen scheme" means a registrable scheme under which benefits continue to be payable to existing members and to which—

(a) no new members may be admitted;

(b) no further contributions are payable by or in respect of existing members; and

(c) no further benefits accrue to existing members although benefits which have already accrued to them may be increased;

“member" means—

(a) in relation to an occupational pension scheme, any person who—

(i) is in pensionable service under the scheme;

(ii) has rights under the scheme by virtue of his pensionable service under the scheme; F1 ...

(iii) has rights under the scheme by virtue of having been allowed transfer credits under the scheme;[F2 or

(iv) has pension credit rights under the scheme;]

(b) in relation to a personal pension scheme, a member of the scheme[F2 , including a member who has pension credit rights under the scheme.]

other than a member in respect of whom entitlement under the scheme is only for benefits payable on his death;

[F3 “pension credit rights” has the meaning given by section 101B of the 1993 Act;]

“registrable scheme" means an occupational or a personal pension scheme—

(a) which—

(i) is established in the United Kingdom; or

(ii) has a place at which its management is conducted in the United Kingdom and has a representative appointed to carry out the functions of a trustee in the United Kingdom; and

(b) which—

(i) is a scheme in respect of which a person has applied for, or received, the approval of the Board of Inland Revenue for the purposes of section 590 or section 591 (other than subsection (2)(g)) of the Income and Corporation Taxes Act 1988 M3 (conditions for approval of retirement benefit schemes and discretionary approval), or for the purposes of Chapter IV of Part XIV of that Act (personal pension schemes); or

(ii) is a scheme which is a public service pension scheme; and

(c) which—

(i) has more than one member; and

(ii) provides benefits which are not solely payable on the death of a member,

F4 ...

“Registrar" means the Registrar of Occupational and Personal Pension Schemes;

“registration year" means a period of 12 months beginning on 1st April;

“Regulatory Authority" means the Occupational Pensions Regulatory Authority M4 ;

“scheme year" in relation to a registrable scheme means—

(a) a year specified for the purposes of the scheme in any document comprising the scheme or, if none, a period of 12 months commencing on 1st April or on such other date as the trustees select; or

(b) such other period (if any) exceeding 6 months but not exceeding 18 months as is selected by the trustees—

(i) in connection with the commencement or termination of the scheme; or

(ii) in connection with a variation of the date on which the year or period referred to in paragraph (a) is to commence;

[F5 “total membership” means, in relation to a registrable scheme as respects which a liability arises under regulation 2(1) or (2) or 5(1) below in respect of a registration year, the number of its members—

(a) in the case of a scheme—

(i) which has become a registrable scheme during the registration year immediately preceding the previous registration year, or

(ii) in respect of which no scheme year has ended before the beginning of the previous registration year,

on the day on which the scheme became a registrable scheme;

(b) in any other case, on the last day of the last scheme year which ended before the beginning of the previous registration year;]

“trustees", in the case of a scheme which is not set up under a trust, means the managers of the scheme, except in relation to a scheme which is established outside the United Kingdom and, in such a case, “trustees" means the person treated by the Commissioners of Inland Revenue for the time being as the administrator of the scheme for the purposes of Chapter I or Chapter IV of Part XIV of the Income and Corporation Taxes Act 1988;

“unallocated assets" means any assets of a scheme which have not been specifically allocated for the provision of benefits to or in respect of members (whether generally or individually).

[F6 (3) These Regulations do not apply to any scheme which is a Republic of Ireland scheme within the meaning of the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000.]

Textual Amendments

F1 Word in reg. 1(2) deleted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691) , regs. 1 , 7(2)(a)(i)

F2 Words in reg. 1(2) inserted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691) , regs. 1 , 7(2)(a)(ii)

F3 Words in reg. 1(2) inserted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691) , regs. 1 , 7(2)(b)

F4 Words deleted from defn. of “registrable scheme” by reg. 2(2)(a) of S.I. 1998/600 as from 1.4.98.

F5 Defn. of “total membership” substituted by reg. 2(2)(b) of S.I. 1998/600 as from 1.4.98.

F6 Reg. 1(3) inserted (31.12.2000) by The Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000 (S.I. 2000/3198), regs. 1(1), 12

Modifications etc. (not altering text)

C1 Reg. 1 applied in part (1.10.2000) by The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403) , regs. 1(2) , 32 , Sch. 2

Marginal Citations

M1 S.I. 1995/524 .

M2 The Pensions Compensation Board is established under section 78(1) of the Pensions Act 1995.

M3 1988 c. 1 .

M4 The Occupational Pensions Regulatory Authority is established under section 1(1) of the Pensions Act 1995.