Pension Schemes Act 2017 (c. 17)

SCHEDULES

Section 38

SCHEDULE 3 E+W+S Minor and consequential amendments

Pension Schemes Act 1993 (c. 48) E+W+S

1 E+W+S The Pension Schemes Act 1993 is amended as follows.

2 E+W+S In section 100B(2) (meaning of “scheme rules”: occupational pension schemes)—

(a) in paragraph (a), at the end insert—

“(xiv) sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;”;

(b) in paragraph (b), at the end insert—

“(xi) sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.”

3 E+W+S In section 101AI(8) (rights under section 101AB: further provision)—

(a) in paragraph (a), at the end insert—

“(xii) sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;”;

(b) in paragraph (b), at the end insert—

“(x) sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.”

Pensions Act 1995 (c. 26) E+W+S

4 E+W+S In section 67A(9) of the Pensions Act 1995 (subsisting rights provisions: meaning of “scheme rules”)—

(a) in paragraph (a), at the end insert—

“(xiii) sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;”;

(b) in paragraph (b), at the end insert—

“(xi) sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.”

Pensions Act 2004 (c. 35) E+W+S

5 E+W+S The Pensions Act 2004 is amended as follows.

6 E+W+S In section 13 (improvement notices), in subsection (7) (meaning of “pensions legislation”)—

(a) in the opening words, after “by virtue of” insert “ any of the following ”;

(b) omit the “or” at the end of paragraph (f);

(c) after paragraph (g) insert—

“(h) Part 1 of the Pension Schemes Act 2017.”

Commencement Information

I1 Sch. 3 para. 6 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I2 Sch. 3 para. 6 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

7 E+W+S In section 70 (duty to report breaches of the law), in subsection (1), at the end insert—

“(f) a scheme strategist or scheme funder of a Master Trust scheme within the meaning of Part 1 of the Pension Schemes Act 2017 (see section 39 of that Act).”

Commencement Information

I3 Sch. 3 para. 7 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I4 Sch. 3 para. 7 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

8 E+W+S In section 72 (provision of information), in subsection (1A), after “2008” insert “ or Part 1 of the Pension Schemes Act 2017 ”.

Commencement Information

I5 Sch. 3 para. 8 in force at Royal Assent for specified purposes, see s. 44(1)(a)(iv)

I6 Sch. 3 para. 8 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I7 Sch. 3 para. 8 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

9 (1) Section 90 (codes of practice) is amended as follows. E+W+S

(2) In subsection (2) (matters on which the Pensions Regulator must issue codes of practice), after paragraph (j) insert—

“(ja) the process for making an application for authorisation of a Master Trust scheme under Part 1 of the Pension Schemes Act 2017;

(jb) the matters that the Pensions Regulator expects to take into account in deciding whether it is satisfied that a Master Trust scheme meets the authorisation criteria under that Part (see section 5 of the Pension Schemes Act 2017);”.

(3) In subsection (6), in the definition of “the pensions legislation”—

(a) omit the “or” at the end of paragraph (e), and

(b) after paragraph (f) insert “, or

(g) the Pension Schemes Act 2017.”

Commencement Information

I8 Sch. 3 para. 9 in force at 1.2.2018 by S.I. 2018/62, reg. 2

10 E+W+S In section 93(2) (“regulatory functions” of the Regulator subject to procedure), omit the “and” at the end of paragraph (p) and after that paragraph insert—

“(pa) the power to give a direction under section 26(7) of the Pension Schemes Act 2017 (direction to submit implementation strategy), and”.

Commencement Information

I9 Sch. 3 para. 10 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I10 Sch. 3 para. 10 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

11 E+W+S In section 97(5) (special procedure: applicable cases), after paragraph (ta) insert—

“(tb) the power to withdraw authorisation of a Master Trust scheme under section 19 of the Pension Schemes Act 2017;

(tc) the power to make a pause order under section 31 of that Act;

(td) the power to make an order under paragraph 2(2) of Schedule 1 to that Act extending the period for which a pause order has effect;

(te) the power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order;

(tf) the power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers;”.

Commencement Information

I11 Sch. 3 para. 11 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I12 Sch. 3 para. 11 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

12 E+W+S In section 318(3) (interpretation: scheme rules)—

(a) in paragraph (a), at the end insert—

“(xiii) sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;”;

(b) in paragraph (b), at the end insert—

“(xi) sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.”

13 E+W+S In Schedule 2 (functions exercisable by the Determinations Panel), after Part 4 insert—

“Part 4A E+W+S Functions under the Pension Schemes Act 2017

44A The power to withdraw authorisation of a Master Trust scheme under section 19.

44B The power to give a direction under section 28(4) (direction to pursue continuity option).

44C The power to make a pause order under section 31.

44D The power to make an order under paragraph 2(2) of Schedule 1 extending the period for which a pause order has effect.

44E The power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order.

44F The power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers.

44G Terms used in this Part have the same meaning as in Part 1 of the Pension Schemes Act 2017.”

Commencement Information

I13 Sch. 3 para. 13 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I14 Sch. 3 para. 13 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)

Pensions Act 2008 (c. 30) E+W+S

14 E+W+S In section 31 of the Pensions Act 2008 (effect of freezing order or assessment period: qualifying schemes)—

(a) in subsection (3), in the definition of “freezing event”, after paragraph (b) insert “, or

(c) the making of a pause order under section 31 of the Pension Schemes Act 2017;”;

(b) in subsection (3), in the definition of “relevant provision”, after paragraph (b) insert—

“(c) in relation to a pause order, provision contained in the order or the provision made with respect to the order by section 31 of the Pension Schemes Act 2017.”;

(c) in the section heading, for “or assessment period” substitute “ , assessment period or pause order ”.

Commencement Information

I15 Sch. 3 para. 14 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)

I16 Sch. 3 para. 14 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)