The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025

Schedule 7 Collective money purchase schemes: amendments to secondary legislation

Regulation 82 Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 1 (1) The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 are amended as follows. (2) In regulation 12A (discharge of liabilities by collective money purchase scheme which is winding up)— (a) in paragraph (1) for sub-paragraph (b) substitute— (b) the trustees of the scheme do not receive a notice from the beneficiary in accordance with— (i) where the scheme is a single or connected employer scheme, paragraph 14 of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022; (ii) where the scheme is an unconnected multiple employer scheme, paragraph 14 of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025. ; (b) in paragraph (2)— (i) for the definition of “default discharge option” substitute— “default discharge option” has the meaning given by— in relation to a single or connected employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022; in relation to an unconnected multiple employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025; ; (ii) after the definition of “default discharge option” insert— “single or connected employer scheme” and “unconnected multiple employer scheme” have the meanings given by section 1(3) of the Pension Schemes Act 2021. . Amendment of the Occupational Pension Schemes (Transfer Values) Regulations 1996 2 In the Occupational Pension Schemes (Transfer Values) Regulations 1996, in regulation 2A (collective money purchase schemes during winding-up) for paragraph (2) substitute— (2) In this regulation— “single or connected employer scheme” and “unconnected multiple employer scheme” have the meanings given by section 1(3) of the Pension Schemes Act 2021; “winding-up period” has the meaning given by— in relation to a single or connected employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022; in relation to an unconnected multiple employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025. . Amendment of the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations 1997 3 In the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations 1997, in regulation 8 (exemptions from the inalienability and forfeiture provisions)— (a) in paragraph (7A)— (i) from “Schedule 6” to the end becomes sub-paragraph (a); (ii) at the beginning of that sub-paragraph insert “where the scheme is a single or connected employer scheme,”; (iii) after that sub-paragraph insert— (b) where the scheme is an unconnected multiple employer scheme, Schedule 6 (continuity option 1: transfer out and winding up) to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025. ; (b) for paragraph (9) substitute— (9) In paragraph (7A), “periodic income” has the meaning given by— (a) in relation to a single or connected employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022; (b) in relation to an unconnected multiple employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025. ; (c) after paragraph (9) insert— (10) In paragraphs (7A) and (9) “single or connected employer scheme” and “unconnected multiple employer scheme” have the meanings given by section 1(3) of the Pension Schemes Act 2021. . Amendment of the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 4 In the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006, in regulation 10 (listed changes: exclusions)— (a) in paragraph (1)— (i) in sub-paragraph (ad) for “collective money purchase scheme” substitute “single or connected employer scheme”; (ii) after sub-paragraph (ad) insert— (ae) is made in respect of an unconnected multiple employer scheme that is pursuing continuity option 1 in accordance with— (i) Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025, or (ii) scheme rules made in accordance with that Schedule, ; (b) in paragraph (5)— (i) for the definition of “multi-annual reduction” substitute— “multi-annual reduction” has the meaning given by— in relation to a single or connected employer scheme, regulation 2(1) of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022; in relation to an unconnected multiple employer scheme, regulation 26(1) of the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025; ; (ii) after the definition of “multi-annual reduction” insert— “single or connected employer scheme” and “unconnected multiple employer scheme” have the meanings given by section 1(3) of the Pension Schemes Act 2021. . Amendment of the Occupational Pension Schemes (Modification of Schemes) Regulations 2006 5 (1) The Occupational Pension Schemes (Modification of Schemes) Regulations 2006 are amended as follows. (2) In regulation 1(3) (interpretation)— (a) for the definition of “multi-annual reduction” substitute— “multi-annual reduction” has the meaning given by— in relation to a single or connected employer scheme, regulation 2(1) of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022; in relation to an unconnected multiple employer scheme, regulation 26(1) of the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025; ; (b) after the definition of “the scheme administrator” insert— “single or connected employer scheme” has the meaning given by section 1(3) of the Pension Schemes Act 2021; ; (c) at the end insert— “unconnected multiple employer scheme” has the meaning given by section 1(3) of the Pension Schemes Act 2021 . (3) In regulation 3 (non-application of the subsisting rights provisions)— (a) at the end of paragraph (k) omit “or”; (b) in paragraph (l)— (i) for “collective money purchase scheme” substitute “single or connected employer scheme”; (ii) at the end insert “; or”; (c) after paragraph (l) insert— (m) which is made in respect of an unconnected multiple employer scheme that is pursuing continuity option 1 in accordance with— (i) Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025; or (ii) scheme rules made in accordance with the requirements of that Schedule. . Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 6 (1) The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 are amended as follows. (2) In regulation 2(1) (interpretation)— (a) for the definition of “multi-annual reduction” substitute— “multi-annual reduction”— in relation to a single or connected employer scheme has the meaning given by regulation 2(1) of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022, and in relation to an unconnected multiple employer scheme has the meaning given by regulation 26(1) of the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025; ; (b) after the definition of “scheme year” insert— “single or connected employer scheme” has the meaning given by section 1(3) of the 2021 Act; ; (c) after the definition of “transferrable rights” insert— “unconnected multiple employer scheme” has the meaning given by section 1(3) of the 2021 Act; . (3) In regulation 24(6) (occupational pension schemes during winding up)— (a) in sub-paragraph (za) for “collective money purchase scheme” substitute “single or connected employer scheme”; (b) after sub-paragraph (za) insert— (zb) in relation to an unconnected multiple employer scheme, in accordance with paragraph 4 of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025, . (4) In regulation 29B (additional publication requirements for collective money purchase schemes), after paragraph (5) insert— (5A) Where there is a change in relation to the information listed in paragraph 1A of Schedule 11 (statement to be published by unconnected multiple employer schemes), the statement mentioned in sub-paragraph (2)(a) must be altered accordingly, and published as soon as practicable after, and in any event within the period of three months beginning with, the date the change occurred. . (5) In Schedule 11 (statements to be published by collective money purchase schemes)— (a) in paragraph 1, at the beginning insert “Where the scheme is a single or connected employer scheme,”; (b) after paragraph 1 insert— 1A Where the scheme is an unconnected multiple employer scheme, a summary of— (a) the rate or amount of benefits provided under the scheme; (b) how the benefits which accrue each year under the scheme relate to the contributions made into the scheme by, on behalf of or in respect of members. .