Paragraph 17 Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations 2015

Regulation 9 (member agreement for services)^f1 is amended as follows.

In paragraph (1), after “Subject to paragraph (3),” insert “in the case of a member of a relevant scheme (that is not a collective money purchase scheme),”.

After paragraph (1), insert—

“(1A)

Subject to paragraph (3), in the case of the members of a relevant scheme (that is a qualifying collective money purchase scheme), the restrictions in regulation 4 (with the exception of regulation 4(1A)) do not apply in relation to advice or a service for which a member has entered into an agreement with a person for the provision of that advice or service, provided the conditions in paragraph (2) are satisfied.”.

In paragraph (2)—

In paragraph (4), at the end of sub-paragraph (e), omit the full-stop and insert—

“;

(f)

a transfer out of a qualifying collective money purchase scheme into a different scheme;

(g)

a transfer into a qualifying collective money purchase scheme.”.