# The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022, Paragraph 4: Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations 2015


(1) Regulation 2 (interpretation) is amended as follows.
(2) In paragraph (1)—
(a) in the appropriate places insert—
““the 2021 Act” means the Pension Schemes Act 2021;”;
““collective contribution percentage charge” has the meaning given in regulation 5A(3);”;
““collective flat fee charge” has the meaning given in regulation 5A(3);”;
““collective existing rights charge” has the meaning given in regulation 5A(3);”;
““collective money purchase benefit” has the meaning given in section 1(1) of the 2021 Act;”;
““collective money purchase scheme” has the meaning given in section 1(2) of the 2021 Act;”;
““collective single charge structure” has the meaning given in regulation 5A(2);”;
““qualifying collective money purchase scheme” has the meaning given in regulation 3A;”;
““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;”;
““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;”;
(b) in the definition of “contributing member”—
(i) after “relevant scheme” insert “, that is not a collective money purchase scheme,”; and
(ii) after “money purchase benefits” insert “(other than collective money purchase benefits)”;
(c) in the definition of “performance fee”—
(i) at the beginning of sub-paragraph (b) insert “in the case of a relevant scheme that is not a collective money purchase scheme,”;
(ii) at the end of sub-paragraph (b) insert “or”; and
(iii) after sub-paragraph (b) insert—
“(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;”;
(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,”.
(3) In paragraph (2)—
(a) in sub-paragraph (a), after “money purchase benefits” insert “other than collective money purchase benefits”;
(b) omit “or” at the end of sub-paragraph (a);
(c) in sub-paragraph (b), after “money purchase benefits,” insert “other than collective money purchase benefits,”;
(d) at the end of sub-paragraph (b), omit the comma and insert “; or”; and
(e) after sub-paragraph (b) insert—
“(c) a collective money purchase scheme,”.
(4) After paragraph (2), insert—
“(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.”.
(5) After paragraph (3), insert—
“(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.”.
(6) At the end of paragraph (4), omit the full-stop and insert—
“;
(d) a charge under a collective single charge structure;
(e) a collective existing rights charge.”.
(7) In paragraph (5) for “When a charge under a single charge structure is” substitute “When the charges in paragraph (5A) are”.
(8) After paragraph (5), insert—
“(5A) For the purposes of paragraph (5), the charges are—
(a) a charge under a single charge structure;
(b) a charge under a collective single charge structure.”.

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Source: https://www.legislation.gov.uk/ukdsi/2022/9780348231182/schedule/7/paragraph/4 (the official version)
Page: https://openlegislation.uk/draft-occupational-pension-schemes-collective-money-purchase-schemes-regulations-2022/schedule-7/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.