The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991

[^key-555850bf827297f3c1ae4b3b25bea930]: Words in reg. 21(5)(c) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 30(20)(d)

[^M_F_1ca3a715-57b2-4d34-ae95-e8057fd69dc7]: Words in reg. 21(5)(b) omitted (1.2.96) by virtue of S.I. 1995/3067, reg. 2(5)

[^key-50e4d322230a68de5941d5fc3d483667]: Words in reg. 22(2) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 30(21)

[^key-952964526447e63fbc03a86081af8297]: Words in reg. 25(2) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 30(22)(a)

[^key-27c7cd7ee5f5df8287021d3d9aae977a]: Words in reg. 25(3) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 30(22)(b)

[^M_F_431c9052-c2ff-4892-9c53-49bb2a1167f5]: Words in reg. 25(4)(a) omitted (6.4.97) by virtue of S.I. 1996/2131, reg. 2(15)

[^M_F_f85baafb-cca7-4217-eb11-36d10ace7760]: Reg. 26 revoked (6.4.97) by S.I. 1996/2131, reg. 2(16)

[^key-4d32e357bb783d3356e071f938bbf064]: Words in reg. 27 substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 30(24)

[^M_F_cd07f019-3fff-496d-f4de-abe85436b34f]: Words in reg. 27(2) substituted (6.4.97) by S.I. 1996/2131, reg. 2(17)(a)

[^M_F_81979a4e-f4b7-4290-94ec-526ab52b4ea8]: Words in reg. 27(2)(b) substituted (6.4.97) by S.I. 1996/2131, reg. 2(17)(b)

[^M_F_6fa28697-5962-4d9a-c143-ae6d79546b86]: Reg. 11A inserted (6.4.97) by S.I. 1996/2131, reg. 2(6)

[^M_F_df6ff292-ce77-4396-b4ea-04f734fa6e0f]: Reg. 27A and Reg. 27B inserted (6.4.97) by S.I. 1996/2131, reg. 2(18)

[^key-ffb5d0cd4fb5072c29b34e00ffe6cb00]: Sch. 1 revoked in part (6.4.1997) by The Occupational Pension Schemes (Discharge of Liability) Regulations 1997 (S.I. 1997/784), reg. 1(1), Sch. 2

[^key-ff9de304ca36e0c905ecbfefe3a78f96]: Reg. 28 revoked in part(6.4.1997) by The Occupational Pension Schemes (Discharge of Liability) Regulations 1997 (S.I. 1997/784), reg. 1(1), Sch. 2

[^key-d15f73ab511409d1377c6227834fec9d]: Sch. 1 para. 2 revoked (6.4.1997) by The Occupational Pension Schemes (Transfer Values) Regulations 1996 (S.I. 1996/1847), reg. 1(1), Sch. 3 (with reg. 21(2), Sch. 2)

[^key-fbc0d9cf784499b3255b96cb829aaabe]: Sch. 1 para. 3 revoked (6.4.1997) by The Occupational Pension Schemes (Disclosure of Information) Regulations 1996 (S.I. 1996/1655), reg. 1(1), Sch. 4 (with reg. 2)

[^key-09584631ad1a855e2fffbfc0da9f3949]: Words in reg. 12(4A) substituted (1.10.1999) by The Occupational Pension Schemes (Preservation of Benefit) Amendment Regulations 1999 (S.I. 1999/2543), regs. 1, 2(b)

[^key-f61c03079276cbc19e18abb3c515606d]: Reg. 12(5) substituted (1.10.1999) by The Occupational Pension Schemes (Preservation of Benefit) Amendment Regulations 1999 (S.I. 1999/2543), regs. 1, 2(c)

[^key-58a609982ea93e7640930fa66ed4afcc]: Reg. 12(1A) added (1.2.2000) by The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403), regs. 1(2), 27(a)

[^key-956202cc909bc24aaabb243bfd3b15bb]: Reg. 12(6) added (1.2.2000) by The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403), regs. 1(2), 27(b)

[^key-8f7a9f79379e1dc5a0aa80b3abf03418]: Words in heading toreg. 19 inserted (5.12.2005) by The Civil Partnership (Pensions, Social Security and Child Support) (Consequential, etc. Provisions) Order 2005 (S.I. 2005/2877), art. 1, Sch. 2 para. 2(a) (with art. 3)

[^key-803673a3de24a28c16ccfca632159322]: Words in reg. 19 inserted (5.12.2005) by The Civil Partnership (Pensions, Social Security and Child Support) (Consequential, etc. Provisions) Order 2005 (S.I. 2005/2877), art. 1, Sch. 2 para. 2(b) (with art. 3)

[^key-68c2782aa1211c890e5a0ce4e2c4a0f2]: Words in reg. 19 inserted (5.12.2005) by The Civil Partnership (Pensions, Social Security and Child Support) (Consequential, etc. Provisions) Order 2005 (S.I. 2005/2877), art. 1, Sch. 2 para. 2(c) (with art. 3)

[^key-bd07c0b570e0d55d7681be82f909120b]: Reg. 23 omitted (6.4.2006) by virtue of Taxation of Pension Schemes (Consequential Amendments of Occupational and Personal Pension Schemes Legislation) Order 2006 (S.I. 2006/744), arts. 1, 6(2)

[^key-18f5e1cf4c62ab041f4608af3b41e8af]: Reg. 8(2) substituted (6.4.2007) by Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/814), regs. 1, 3(3)

[^key-5841ddca9a326ee52d04f35619659800]: Words in reg. 27B substituted (6.4.2009) by Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009 (S.I. 2009/615), regs. 1(2), 2(2)

[^key-26adceefeffb4f3730cfad5057a6cd2c]: Reg. 5 substituted (1.12.2009) by Occupational and Personal Pension Schemes (Authorised Payments) Amendment Regulations 2009 (S.I. 2009/2930), regs. 1, 2

[^key-7964ea74b1f7cca70db2fe1240b34b48]: Sch. 3 inserted (6.4.2011) by The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011 (S.I. 2011/672), reg. 1(2)(b), Sch. 1

[^key-3252beac7dee4000e22b6d053213da98]: Reg. 12(3) substituted (6.4.2011) by The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011 (S.I. 2011/672), regs. 1(2)(b), 3(2)(a)

[^key-e8004d8a817b35f05354f85504fab1d9]: Words in reg. 12(4) substituted (6.4.2011) by The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011 (S.I. 2011/672), regs. 1(2)(b), 3(2)(b)

[^key-acf0729c7122d4ee54f9e4ee86de24d9]: Words in reg. 12(4A) substituted (6.4.2011) by The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011 (S.I. 2011/672), regs. 1(2)(b), 3(2)(c)

[^key-aac06daf1b48d9bb48a67d4278f0b455]: Words in reg. 9(6) substituted (6.4.2012) by The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) Order 2011 (S.I. 2011/1246), arts. 1(2)(a), 6(a)

[^key-f5284a3c615fa401eea4af89fef8427e]: Reg. 9(6)(a) omitted (6.4.2012) by virtue of The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) Order 2011 (S.I. 2011/1246), arts. 1(2)(a), 6(b)

[^key-9236a4768d601b623be2a79dba2f5c08]: Word in reg. 11A(2)(a) added (6.4.2012) by The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I. 2011/1245), regs. 1(2), 3(a)

[^key-549866dc56ae68839744c5c7d6719461]: Reg. 11A(2)(b) and word omitted (6.4.2012) by virtue of The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I. 2011/1245), regs. 1(2), 3(b)

[^key-f48a59b5fa47967db179bd5db70cd08f]: Words in reg. 12(5)(b) substituted (6.4.2012) by The Pensions (Institute and Faculty of Actuaries and Consultation by Employers – Amendment) Regulations 2012 (S.I. 2012/692), regs. 1(2), 3

[^key-de4995e192017431569a957e7b43b3c5]: Words in reg. 12(2)(a) substituted (6.4.2013) by The Occupational and Stakeholder Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/459), regs. 1, 2(4)

[^key-bd43f546c5d53c0fb9c01fe321ea5dda]: Words in reg. 12(2)(b) substituted (6.4.2013) by The Occupational and Stakeholder Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/459), regs. 1, 2(4)

[^key-270ecbadec09da468a2b79e0b2e222bc]: Reg. 1(4) added (6.4.2014) by The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (S.I. 2013/2734), reg. 1(1), Sch. 9 para. 1(2)

[^key-da13c5f58cb3e8483d3393f461575966]: Words in reg. 9(6)(c) substituted (6.4.2014) by The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (S.I. 2013/2734), reg. 1(1), Sch. 9 para. 1(3)

[^key-10eecdcffa6a9f187c0b1997082acbcd]: Words in reg. 10(2) substituted (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 27(2) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

[^key-bbb190492d211fdcfc1a368794c08524]: Reg. 14 omitted (24.7.2014) by virtue of The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 27(3) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

[^M_F_37b4d3cc-aecc-4933-e4be-d9827c2305d3]: Reg. 14A substituted (24.07.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711) regs.1(1), 27(4)

[^key-64c47e00eb1686f0a4b9d713ef3b97ae]: Word in reg. 5(a) inserted (6.4.2015) by The Occupational Pension Schemes (Consequential and Miscellaneous Amendments) Regulations 2015 (S.I. 2015/493), regs. 1, 2

[^key-f32a446104a7e7d398a08cdda5c14735]: Reg. 12(2)(b)(ii) substituted (6.4.2016) by The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(2), 2(2)(a)

[^key-0a0cd867f3262a72e8017a0cc74a582d]: Reg. 12(2A) inserted (6.4.2016) by The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(2), 2(2)(b)

[^key-4e4674ce2571cfc3c1e3f736ea041c96]: Reg. 24(3A) inserted (6.4.2016) by The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(2), 2(3)

[^key-a83adc3dc2819a90c280dfdba342a170]: Words in reg. 12(1A) substituted (1.4.2018) by The Occupational Pension Schemes (Preservation of Benefit and Charges and Governance) (Amendment) Regulations 2018 (S.I. 2018/240), regs. 1(3), 2(3)

[^key-b5e8499b12febba3d27b91187b8d9e82]: Reg. 12(1B) inserted (1.4.2018) by The Occupational Pension Schemes (Preservation of Benefit and Charges and Governance) (Amendment) Regulations 2018 (S.I. 2018/240), regs. 1(3), 2(4)

[^key-be8daf5584e8b214f92db6ac2ab95634]: Reg. 12(7)-(11) inserted (1.4.2018) by The Occupational Pension Schemes (Preservation of Benefit and Charges and Governance) (Amendment) Regulations 2018 (S.I. 2018/240), regs. 1(3), 2(6)

[^key-f97f92c1252665093d426a56561e7801]: Reg. 12(2A)(b)(i) substituted (1.4.2018) by The Occupational Pension Schemes (Preservation of Benefit and Charges and Governance) (Amendment) Regulations 2018 (S.I. 2018/240), regs. 1(3), 2(5)

[^key-0b1e07c41f496d14d3f9498095fa261d]: Reg. 12(3) modified by S.I. 2005/3381, reg. 21(2) (as inserted (13.1.2019) by The Occupational Pension Schemes (Cross-border Activities)(Amendment) Regulations 2018 (S.I. 2018/1102), regs. 1(2), 3(7))

[^key-4844006eb00231a6891b5cd982ea4af2]: Sch. 3 modified by S.I. 2005/3381, reg. 21(2)(a) (as inserted (13.1.2019) by The Occupational Pension Schemes (Cross-border Activities)(Amendment) Regulations 2018 (S.I. 2018/1102), regs. 1(2), 3(7))

[^key-2157b6ee13e2988019373a62a941f4e1]: Words in reg. 1(3) omitted (13.1.2019) by virtue of The Occupational Pension Schemes (Cross-border Activities)(Amendment) Regulations 2018 (S.I. 2018/1102), regs. 1(2), 4(2)

[^key-d0759c88ea3d5d0e59cca3acd42e2cc5]: Reg. 11B omitted (13.1.2019) by virtue of The Occupational Pension Schemes (Cross-border Activities)(Amendment) Regulations 2018 (S.I. 2018/1102), regs. 1(2), 4(3)

[^key-443d6b319ed057ae9d79c7ddb72fde9c]: Words in reg. 12(1) inserted (1.10.2019) by The Occupational Pension Schemes (Preservation of Benefit and Charges and Governance) (Amendment) Regulations 2018 (S.I. 2018/240), regs. 1(2), 2(2)

[^key-163914e3cf719e33732e8313187a82d8]: Reg. 12A inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022 (S.I. 2022/337), regs. 1(3), 2(3)

[^key-84233498cddc92ebbc03676704dfc487]: Reg. 12(3A) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022 (S.I. 2022/337), regs. 1(3), 2(2)(b)

[^key-4b688202605a8d45eced48046dca31cc]: Words in reg. 12(1) substituted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022 (S.I. 2022/337), regs. 1(3), 2(2)(a)

[^key-451f3958421115ca59c41add00d6c0e7]: Words in reg. 12(11) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022 (S.I. 2022/337), regs. 1(3), 2(2)(c)

Benefits to which section 74(6) does not apply – money purchase benefits

14A

Section 74(6) of the Act (computation of short service benefit) does not apply to money purchase benefits.

Computation of benefit-earnings related benefits

Computation of benefit-uniform accrual

Computation of benefit-rounding

Commutation of benefit

Widows, widowers, surviving civil partners and dependants

Deductions from short service benefit

Breaks in pensionable service

Postponement or suspension of benefit

Refunds of additional voluntary contributions

Schemes funded by level annual premiums

Schemes with an overseas element

Transfers to overseas schemes

Specific provisions to be included in scheme rules

Information to be furnished to early leavers

Offence and penalties

Related amendments to other Regulations

Revocations

Discharge of liabilities by collective money purchase scheme which is winding up

12A

• (1) For the purposes of section 73(4) of the Act, a collective money purchase scheme may provide for the scheme’s liability to a beneficiary in respect of the beneficiary’s accrued rights to benefits under the scheme to be discharged in accordance with the default discharge option for that beneficiary without the consent of the beneficiary where—

• (a) the scheme is pursuing continuity option 1 within the meaning of sections 34 and 36 of the Pension Schemes Act 2021; and

• (b) the trustees of the scheme do not receive a notice from the beneficiary in accordance with paragraph 14 of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022.

• (2) In this regulation—

• “beneficiary” has the meaning given by section 36(8) of the Pension Schemes Act 2021;

• “collective money purchase scheme” means a scheme or a section of a scheme which is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021;

• “default discharge option” has the meaning given by paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022.

Benefits attributable to waiting periods

Computation of benefit-money purchase benefits

Benefits to which section 74(6) does not apply – money purchase benefits

Computation of benefit-earnings related benefits

Computation of benefit-uniform accrual

Computation of benefit-rounding

Commutation of benefit

Widows, widowers, surviving civil partners and dependants

Deductions from short service benefit

Breaks in pensionable service

Postponement or suspension of benefit

Refunds of additional voluntary contributions

Schemes funded by level annual premiums

Schemes with an overseas element

Transfers to overseas schemes

Specific provisions to be included in scheme rules

Information to be furnished to early leavers

Offence and penalties

Related amendments to other Regulations

Revocations