This Statutory Instrument has been made in consequence of a defect in S.I. 2015/879 and is being issued free of charge to all known recipients of that Statutory Instrument.
Statutory Instruments
2015 No. 889
Pensions
The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2015
Made
25th March 2015
Laid before Parliament
25th March 2015
Coming into force
6th April 2015
The Secretary of State for Work and Pensions, in exercise of the powers conferred by sections 43(a) and 54(5) of, and paragraphs 1(1), (2)(a) and (3) of Schedule 18 to, the Pensions Act 2014( 1 ), makes the following Regulations.
In accordance with paragraph 8 of Schedule 18 to the Pensions Act 2014, the Secretary of State has consulted such persons as the Secretary of State considers appropriate.
Citation and commencement
1. These Regulations may be cited as the Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2015 and come into force on 6th April 2015.
Amendment of regulation 3
2. In regulation 3 of the Occupational Pension Schemes (Charges and Governance) Regulations 2015( 2 ) (default arrangement), for paragraph (6) substitute—
“ (6) An arrangement is not a default arrangement if—
(a) at any time before a benefit under that arrangement comes into payment, it provides for a pensions promise to be obtained from a third party in relation to any such benefit; or
(b) it provides no benefits other than benefits which are attributable to additional voluntary contributions. ” .
Signed by authority of the Secretary of State for Work and Pensions.
Steve Webb
Minister of State,
Department for Work and Pensions
25th March 2015