Regulation 8 Amendments to regulation 59

In regulation 59 (pension administration strategy)—

(a)

in paragraph (1)—

(i)

for “may” substitute “must”;

(ii)

omit “such of”;

(iii)

omit “as it considers appropriate”;

(iv)

omit the words from “and” to the end;

(b)

omit paragraph (2)(f);

(c)

for paragraph (3) substitute—

“(3)

An administering authority must review and, if appropriate, revise its pension administration strategy—

(a)

at least once in each valuation period, and

(b)

as soon as reasonably practical after any material change in its policies in relation to any of the matters contained in the strategy.”;

(d)

in paragraph (6), omit “and to the Secretary of State”;

(e)

after paragraph (6) insert—

“(6A)

In preparing, revising and publishing its pension administration strategy, an administering authority must act in accordance with guidance issued by the Secretary of State from time to time.”.