{
  "url": "https://openlegislation.uk/occupational-pension-schemes-collective-money-purchase-schemes-modifications-and-consequential-and-miscellaneous-amendments-regulations-2022/note",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-collective-money-purchase-schemes-modifications-and-consequential-and-miscellaneous-amendments-regulations-2022/note.json",
  "legislation": "uksi/2022/337",
  "legislation_title": "The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022",
  "legislation_url": "https://openlegislation.uk/occupational-pension-schemes-collective-money-purchase-schemes-modifications-and-consequential-and-miscellaneous-amendments-regulations-2022",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations make consequential and miscellaneous amendments in relation to schemes and sections of schemes providing collective money purchase benefits (“collective money purchase schemes”).\nRegulation 2 makes amendments to the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 (S.I. 1991/167), so that bulk transfers without consent from a defined benefits scheme to a collective money purchase scheme will not be permitted and to allow bulk transfers where a collective money purchase scheme is being wound up.\nRegulation 3 makes amendments to the Occupational Pension Schemes (Transfer Values) Regulations 1996 (S.I. 1996/1847) to provide for a method of calculating cash equivalent transfer value for collective money purchase schemes.\nRegulation 4 makes amendments to the Occupational Pension Schemes (Winding up) Regulations 1996 (S.I. 1996/3126), so that provisions stemming from section 73 of the Pensions Act 1995 do not apply to scheme sections providing collective money purchase benefits.\nRegulation 5 makes amendments to the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc) Regulations 1997 (S.I. 1997/785) to allow periodic payments paid during the winding up of a collective money purchase scheme to be offset against the value of the member’s accrued rights.\nRegulation 6 makes amendments to the Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403) to provide that a collective money purchase scheme cannot be a stakeholder pensions scheme.\nRegulation 7 makes amendments to the Occupational Pension Schemes (Employer Debt) Regulations 2005 (S.I. 2005/678) so that employer debt provisions stemming from section 75 of the Pensions Act 1995 do not apply to collective money purchase schemes.\nRegulation 8 makes amendments to the Occupational Pension Schemes (Investment) Regulations 2005 (S.I. 2005/3378) to reflect that collective money purchase schemes will not have a default arrangement.\nRegulation 9 makes amendments to the Occupational Pension Schemes (Scheme Funding) Regulations 2005 (S.I. 2005/3377) so that scheme funding requirements do not apply to scheme sections that provide collective money purchase benefits.\nRegulation 10 makes amendments to the Occupational Pension Schemes (Winding Up etc) Regulations 2005 (S.I. 2005/706) so that provisions stemming from section 73 of the Pensions Act 1995 do not apply to scheme sections providing collective money purchase benefits.\nRegulation 11 makes amendments to the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 (S.I. 2006/349) so that there will be no requirement to consult in respect of collective money purchase benefit adjustments made in accordance with the latest actuarial valuation and the scheme rules.\nRegulation 12 makes amendments to the Occupational Pension Schemes (Modification of Schemes) Regulations 2006 (S.I. 2006/759), so that the Pensions Act 1995 subsisting rights provisions do not apply to collective money purchase schemes in respect of adjustments to benefits nor in respect of decollectivisation on winding up.\nRegulation 13 makes amendments to the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (S.I. 2013/2734), providing for a disclosure and publication regime for collective money purchase schemes.\nRegulation 14 makes non-textual modifications to the Pensions Act 2004 so that the provisions in that Act for anti-avoidance powers for the Pensions Regulator do not apply in respect of scheme sections that provide collective money purchase benefits.\nAn assessment of the effect that this instrument will have on the costs to business, the voluntary sector and civil society organisations has been made and is published with the Explanatory Memorandum alongside the instrument on www.legislation.gov.uk. Copies may be obtained from the Department for Work and Pensions, Caxton House, Tothill Street, London SW1H 9NA.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2022/337/note",
    "retrieved_at": "2026-10-28T22:02:07.878988+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."
}