Regulation 4 The Occupational Pension Schemes (Investment) Regulations 2005

(1)

The Occupational Pension Schemes (Investment) Regulations 2005^f1 are amended as follows.

(2)

In regulation 1(2), in paragraph (c) of the definition of “default arrangement”^f2, for “(3) and (4)” substitute “(3), (4), (6)(a), (7) and (8)”.

(3)

In regulation 2A (additional requirements in relation to default arrangement)^f3—

(a)

in paragraph (3), after “charges” insert “and transaction costs”;

(b)

after paragraph (5), insert—

“(6)
For the purposes of this regulation, “transaction costs” has the meaning given in regulation 2(1) of the Occupational Pension Schemes (Charges and Governance) Regulations 2015^f4.”.

(4)

In regulation 8(1)(a) (modification of regulation 2 in respect of wholly-insured schemes), for “(b) and (c)” substitute “(b), (c) and (d)”.

Annotations

Footnotes

f1: S.I. 2005/3378.
f2: The definition of default arrangement was inserted by S.I. 2015/879, and amended by S.I. 2016/427.
f3: Regulation 2A was inserted by S.I. 2015/879, and amended by S.I. 2018/988.
f4: S.I. 2015/879. There are amendments to regulation 2 which are not relevant to these Regulations.