Regulation 11A Payments to advisersF1F2
United Kingdom
This regulation applies
to a member of a specified section, if the member is, or was, a worker of a qualifying section employer who participates or has participated in the section.
Subject to paragraphs (4) and (6) and regulations 11B(2)F7, 11B(2B) and 11C, it is prohibited for the purposes of regulation 4(1A) to impose or permit to be imposed on a member to whom this regulation applies a charge that is used—
directly or indirectly, to pay an adviser; or
to reimburse the service provider for a payment that the service provider has made to an adviser,
for advice or a service referred to in sub-paragraph (a) or (b) of paragraph (3).
An adviser is a person who provides, has provided, or agrees to provide—
advice or a service to the member’s employer or former employer who is participating in the specified scheme F8or specified section, as applicable; or
advice or a service to a member of the specified scheme or specified section, as applicable.
F9The prohibition in paragraph (2) does not apply to the following services provided by an adviser—
a service relating to the administration of employee remuneration including tax deductions; and
a technological service which permits or enhances the ability of the service provider’s computing system and the computing system provided by or on behalf of the employer to work together.
Where the adviser is also the service provider, they are to be treated as separate persons for the purposes of this regulation.
The prohibition in paragraph (2) does not apply to a charge imposed to reimburse a service provider for any payment made to an adviser for advice or a service referred to in paragraph (3)(a) or (b) where—
the charge is imposed under a relevant contract which—
was entered into before 6th April 2016; and
has not been varied or renewed on or after that date; and
the payment was made before 1st October 2017.
Where the prohibition in paragraph (2) applies it overrides any term of a relevant contract to the extent that the term conflicts with it.
Annotations
Textual amendments
- F1
Ch. 1: reg. 4-13 renumbered as Ch. 1 (1.10.2017) by The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (S.I. 2017/774), regs. 1, 4
- F2
Regs. 11A-11C inserted (6.4.2016) by The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2016 (S.I. 2016/304), regs. 1, 6
- F3
Words in reg. 11A(1)(a) in 11A(1) renumbered as reg. 11A(1)(a) (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 (S.I. 2022/255), reg. 1(3), Sch. 7 para. 20(2)
- F4
Words in reg. 11A(1) omitted (1.10.2017) by virtue of The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (S.I. 2017/774), regs. 1, 8(2)
- F5
Word in reg. 11A(1)(a) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 (S.I. 2022/255), reg. 1(3), Sch. 7 para. 20(3)
- F6
Reg. 11A(1)(b) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 (S.I. 2022/255), reg. 1(3), Sch. 7 para. 20(4)
- F7
Words in reg. 11A(2) inserted (1.10.2017) by The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (S.I. 2017/774), regs. 1, 8(3)
- F8
Words in reg. 11A(3) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 (S.I. 2022/255), reg. 1(3), Sch. 7 para. 20(5)
- F9
Words in reg. 11A(4) substituted (1.10.2017) by The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (S.I. 2017/774), regs. 1, 8(4)
- F10
Reg. 11A(6) substituted (1.10.2017) by The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (S.I. 2017/774), regs. 1, 8(5)
- F11
Reg. 11A(7) inserted (1.10.2017) by The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (S.I. 2017/774), regs. 1, 8(6)
Notes on Chapter 1
Textual amendments
- F2
Words in Pt. 2 Ch. 1 heading inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 (S.I. 2022/255), reg. 1(3), Sch. 7 para. 7