PART 1

Collective money purchase benefits

Authorisation criteria

Scheme design requirement
12
1
This section applies for the purposes of enabling the Pensions Regulator to decide whether it is satisfied that the design of a collective money purchase scheme is sound (see section 9(3)(b)).
2
In deciding whether the design of a collective money purchase scheme is sound, the Pensions Regulator must take into account—
a
the scheme’s viability report and viability certificate (see section 13);
b
any matters specified in regulations made by the Secretary of State.
3
Regulations under subsection (2)(b) may include provision requiring specified information to be provided to the Pensions Regulator.
4
Regulations under subsection (2)(b) are subject to affirmative resolution procedure.