Explanatory note

These Regulations amend the Occupational Pension Schemes (Charges and Governance) Regulations 2015 (S.I. 2015/879) (‘the principal Regulations’) to correct an error in those Regulations. Consequently these Regulations are issued free of charge to people who bought those Regulations.

They insert a new provision into regulation 3 which has the effect that an arrangement which only provides benefits attributable to Additional Voluntary Contributions will not be a default arrangement under the definition in that regulation.

A full impact assessment has not been published for these Regulations as they have no impact on the private sector or civil society organisations. An assessment has been made of the impact of Part 2 of the principal Regulations (which this instrument amends). Copies of that impact assessment are available in the libraries of both Houses of Parliament and alongside this instrument on www.legislation.gov.uk. Copies may also be obtained from the Better Regulation Unit of the Department for Work and Pensions, 2D, Caxton House, Tothill Street, London SW1H 9NA.