http://www.legislation.gov.uk/ukpga/2021/1/schedule/1BPension Schemes Act 2021An Act to make provision about pension schemes.texttext/xmlenStatute Law Database2026-08-10Expert Participation2026-07-31 Schedule 1BSection 14A(2)Part 11The date by reference to which the information in the business plan is stated (the “effective date” of the plan) (see paragraph 26).2The period to which the business plan relates, to be no less than three years and no more than five years starting with the effective date of the plan.3In each case where estimates are provided in connection with a business plan—aany assumptions used in reaching those estimates, andbthe circumstances in which, and the extent to which, the scheme’s actual membership, contributions, income and costs may vary from the estimates of those matters.4The name of the person who prepared the business plan.5A statement, signed by the trustees and the scheme proprietor, confirming—athat the scheme proprietor considers the business plan to give a true and fair representation of the matters to which it relates, andbthat the business plan has been approved by the trustees.6The name by which the scheme is known.7The name under which the scheme is registered under Chapter 2 of Part 4 of the Finance Act 2004 (if the scheme is so registered).8Any trading or brand name under which the scheme is promoted or marketed (if different from the names referred to in paragraphs 6 and 7).9The date when the scheme was established.10The address of the scheme’s office most recently notified to HM Revenue and Customs in connection with the scheme’s registration under Chapter 2 of Part 4 of the Finance Act 2004 (if the scheme is so registered).11The name of—aeach trustee of the scheme, andbthe scheme proprietor.12The name and address of any scheme administrator (within the meaning given by section 270 of the Finance Act 2004).13The number of participating employers.14The number of members, broken down into active members, deferred members, pension credit members and pensioner members (within the meanings given in section 124(1) of the Pensions Act 1995).15In the three years ending with the effective date of the plan—athe number of members joining the scheme,bthe number of members transferring from the scheme, andcthe number of members leaving the scheme.16The number given to the scheme when it was placed on the register of occupational and personal pension schemes compiled and maintained by the Pensions Regulator under section 59(1) of the Pensions Act 2004 (if the scheme has been so placed).17The reference number issued to the scheme by HM Revenue and Customs when the scheme was registered under Chapter 2 of Part 4 of the Finance Act 2004 (if the scheme is so registered).18The scheme’s objectives and its strategy for meeting them, including delivery milestones.19Details of the succession planning in place in the event that—aany single undertaking that provides significant funding to the scheme proprietor ceases to do so, orbtwo or more undertakings that provide funding to the scheme proprietor which collectively is significant cease to do so.20A description of the activities (if any) carried out by the scheme proprietor which do not relate directly to the scheme.21The identity of any regulator (other than the Pensions Regulator) that regulates activities carried out by the scheme proprietor.22In paragraph 21 “regulator” means—aa person who has responsibility for, or oversight of, an area of activity by virtue of any legislation, orba person in a country or territory outside the United Kingdom which exercises functions of a public nature corresponding or similar to functions of a person referred to in sub-paragraph (a).23A declaration as to the overall competence of the scheme proprietor, with particular reference to the experience, knowledge and professional qualifications of the individuals performing the functions of the scheme proprietor in the exercise of a management or executive role, and plans to improve that competence by way of continuous professional development or otherwise.24Where a triggering event has reduced the value of the financial resources of the scheme (see section 14A(4)(b)), the plans and timetable for restoring the scheme’s financial resources to a level likely to satisfy the Pensions Regulator that the scheme is financially sustainable.Part 225A business plan must be—ain writing, andbin the format set out in a Code.26The information in the business plan must be correct as at the later of—aa date chosen by the scheme proprietor, but not earlier than six months before the date when the trustees of the scheme apply to the Pensions Regulator for authorisation,bwhere a business plan has been revised as a result of a review under section 14A(3), the date the review was completed,cwhere a business plan has been revised as a result of a significant change to the information included in it, the date on which the significant change occurred, anddwhere a business plan has been revised as a result of a triggering event reducing the value of the financial resources of the scheme, the earlier of—ione month after the date the triggering event occurred, andiisuch date as the Pensions Regulator may notify to the scheme proprietor for the purposes of this paragraph.27If a revised business plan is provided in accordance with section 14A(6)(b) or (c) the plan must—aindicate the parts of it which have been revised, andbinclude a new statement in accordance with paragraph 5.28Paragraph 29 applies if—aa triggering event has occurred in relation to the scheme (see section 31),bthe trustees are pursuing continuity option 1 or 2 (see sections 36 and 37), andcthe Pensions Regulator has approved an implementation strategy relating to the scheme (see sections 39 and 40).29Where this paragraph applies, the Pensions Regulator may give notice to the scheme proprietor and the trustees of the scheme specifying that a revised business plan provided during the triggering event period (see section 32)—amust state that the circumstances described in paragraph 28(a) to (c) exist, andbneed not—icontain the information specified in Part 1 or set out in a Code as described in section 14A(2)(a), oriicomply with any requirements set out in a Code as described in section 14A(2)(b).Schs. 1A-1C inserted (31.7.2026) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025 (S.I. 2025/1313), regs. 1(3), 23