The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996 E+W+S

4.—(1) The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996 M1 are amended as follows.

(2) In regulation 2 (requirement of trustees or managers to obtain documents), after paragraph (2) insert—

“(2AA) Information may be made available under paragraph (2) in accordance with regulations 26 to 28 of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (giving information and documents).”.

(3) The Schedule (contents of accounts audited by the auditor of the scheme) is amended as follows—

(a) at the beginning of paragraph 5 M2 insert “ Except in relation to a trust scheme that applies to earners in employments under different employers, ”, and

(b) after paragraph 5 insert—

“5A.— (1) Where the scheme is a trust scheme that applies to earners in employments under different employers, a statement in accordance with paragraph 5 or a statement—

(a) listing the 100 largest investments by value held by the scheme at the end of the scheme year and stating what percentage of the resources of the scheme each such investment represents;

(b) identifying which of the investments mentioned in paragraph (a) are employer-related investments;

(c) if, as at the end of the scheme year, more than 5 per cent of the resources of the scheme are invested in employer-related investments in contravention of section 40(1) of the Pensions Act 1995, listing the employer-related investments and the employer concerned.

(2) In sub-paragraph (1) “employer-related investments” has the meaning as in section 40(2) of the Pensions Act 1995 but as if the following words were omitted from subsection (2)—

(a) in paragraph (a) “or by any person who is connected with, or an associate of, the employer”; and

(b) “or any such person” in each place where they occur.”.

Marginal Citations

M1 S.I. 1996/1975.

M2 Paragraph 5 was substituted by S.I. 1997/3038, amended by S.I. 2006/778 and modified in relation to the National Employment Savings Trust by S.I. 2011/673.