{
  "url": "https://openlegislation.uk/draft-occupational-pension-schemes-collective-money-purchase-schemes-regulations-2022/schedule-7/paragraph-4",
  "json_url": "https://openlegislation.uk/draft-occupational-pension-schemes-collective-money-purchase-schemes-regulations-2022/schedule-7/paragraph-4.json",
  "legislation": "ukdsi/2022/9780348231182",
  "legislation_title": "The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022",
  "legislation_url": "https://openlegislation.uk/draft-occupational-pension-schemes-collective-money-purchase-schemes-regulations-2022",
  "path": "schedule/7/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": "Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations 2015",
  "text": "(1) Regulation 2 (interpretation) is amended as follows.\n(2) In paragraph (1)—\n(a) in the appropriate places insert—\n““the 2021 Act” means the Pension Schemes Act 2021;”;\n““collective contribution percentage charge” has the meaning given in regulation 5A(3);”;\n““collective flat fee charge” has the meaning given in regulation 5A(3);”;\n““collective existing rights charge” has the meaning given in regulation 5A(3);”;\n““collective money purchase benefit” has the meaning given in section 1(1) of the 2021 Act;”;\n““collective money purchase scheme” has the meaning given in section 1(2) of the 2021 Act;”;\n““collective single charge structure” has the meaning given in regulation 5A(2);”;\n““qualifying collective money purchase scheme” has the meaning given in regulation 3A;”;\n““qualifying section employer” means an employer in relation to whom a section of a pension scheme, which is a collective money purchase scheme for the purposes of section 1(2)(b) of the 2021 Act, is being used by a qualifying scheme in relation to at least one of its jobholders;”;\n““specified section” means a relevant scheme that is a collective money purchase scheme for the purposes of section 1(2)(b) of the 2021 Act in which at least one qualifying section employer participates;”;\n(b) in the definition of “contributing member”—\n(i) after “relevant scheme” insert “, that is not a collective money purchase scheme,”; and\n(ii) after “money purchase benefits” insert “(other than collective money purchase benefits)”;\n(c) in the definition of “performance fee”—\n(i) at the beginning of sub-paragraph (b) insert “in the case of a relevant scheme that is not a collective money purchase scheme,”;\n(ii) at the end of sub-paragraph (b) insert “or”; and\n(iii) after sub-paragraph (b) insert—\n“(c) in the case of a relevant scheme that is a collective money purchase scheme, is not calculated by reference to the value of members’ rights under the scheme;”;\n(d) in the definition of “specified scheme” after “relevant scheme” insert “, that is not a collective money purchase scheme for the purposes of section 1(2)(b) of the 2021 Act,”.\n(3) In paragraph (2)—\n(a) in sub-paragraph (a), after “money purchase benefits” insert “other than collective money purchase benefits”;\n(b) omit “or” at the end of sub-paragraph (a);\n(c) in sub-paragraph (b), after “money purchase benefits,” insert “other than collective money purchase benefits,”;\n(d) at the end of sub-paragraph (b), omit the comma and insert “; or”; and\n(e) after sub-paragraph (b) insert—\n“(c) a collective money purchase scheme,”.\n(4) After paragraph (2), insert—\n“(2A) Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the 2021 Act (see section 1(2)(b)) is to be treated for the purposes of these Regulations as a separate scheme.”.\n(5) After paragraph (3), insert—\n“(3A) Where, in these Regulations, a collective flat fee charge is to be calculated and these Regulations have applied to a member of a qualifying collective money purchase scheme for a period of less than a charges year, the charge associated with that member for the purposes of calculating the collective flat fee charge (see regulation 6A(4)(a)) must be calculated on a pro rata basis.”.\n(6) At the end of paragraph (4), omit the full-stop and insert—\n“;\n(d) a charge under a collective single charge structure;\n(e) a collective existing rights charge.”.\n(7) In paragraph (5) for “When a charge under a single charge structure is” substitute “When the charges in paragraph (5A) are”.\n(8) After paragraph (5), insert—\n“(5A) For the purposes of paragraph (5), the charges are—\n(a) a charge under a single charge structure;\n(b) a charge under a collective single charge structure.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Regulation 2 was amended by S.I. 2016/304, 2017/774 and 2021/1070."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "2021 c. 1."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "The definition of “performance fee” was inserted by S.I. 2021/1070."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Paragraph 5 was inserted by S.I. 2021/1070."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2022/9780348231182/schedule/7/paragraph/4",
    "retrieved_at": "2026-10-30T14:46:05.632010+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}