The Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010

[F1 Alternative requirements for a hybrid scheme E+W+S

32G.— (1) Subject to paragraph (2), in relation to a hybrid scheme to the extent to which requirements within section 24(1)(a) of the Act apply or which is referred to in regulation 32J(2), the prescribed alternative requirement is any of the sets of requirements set out in regulation 32E in relation to a money purchase scheme [F2 or, in respect of any jobholders accruing rights to benefits under a collective money purchase scheme, the set of requirements set out in regulation 32EA].

(2) Where, by virtue of a rule made under section 24(2) to (4) of the Act, regulation 43(2) to (4) applies in relation to a hybrid scheme as referred to in paragraph (1), the prescribed alternative requirement is any of the sets of requirements set out in regulation 32E in relation to a money purchase scheme, as modified by regulation 43 but as if regulation 43 were modified as follows—

(a) in paragraph (2), for “paragraph (a) quality requirements” substitute “elements of the alternative requirement”;

(b) for paragraph (3)(a), substitute—

“(a) all of the elements of the alternative requirement are met apart from either or both of the employer’s contribution requirement (“requirement X”) and the total contribution requirement;”;

(c) for paragraph (4)(a), substitute—

“(a) the extent to which requirement X is met as a proportion of the minimum rate of employer’s contribution specified in 32E(2)(b), (3)(a)(ii) or (4)(b), as the case may be”; and

(d) after paragraph (6) of regulation 43, add—

“(7) For the purposes of paragraphs (2) to (4)—

“the alternative requirement” means any of the sets of requirements set out in regulation 32E in relation to a money purchase scheme;

“the employer’s contribution requirement” means the requirement set out in regulation 32E(2)(b), 3(a)(ii) or 4(b), as the case may be; and

“the total contribution requirement” means the requirement set out in regulation 32E(2)(c), 3(a)(iii) or (4)(c), as the case may be.”.]

Textual Amendments

F1 Pt. 7A inserted (1.7.2012) by The Occupational and Personal Pension Schemes (Automatic Enrolment) (Amendment) Regulations 2012 (S.I. 2012/1257), regs. 1(2)(a), 4

F2 Words in reg. 32G(1) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 (S.I. 2022/255), reg. 1(3), Sch. 7 para. 2(4)