{
  "url": "https://openlegislation.uk/occupational-pension-schemes-investment-of-schemes-resources-regulations-1992/note",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-investment-of-schemes-resources-regulations-1992/note.json",
  "legislation": "uksi/1992/246",
  "legislation_title": "The Occupational Pension Schemes (Investment of Scheme’s Resources) Regulations 1992",
  "legislation_url": "https://openlegislation.uk/occupational-pension-schemes-investment-of-schemes-resources-regulations-1992",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations restrict the proportion of the resources of an occupational pension scheme that may be invested in employer-related investments.\nRegulation 1 defines “member”, “pensionable service” and “scheme” for the purposes of regulations 2 to 5.\nRegulation 2 provides that the restriction on investment in employer-related investments in regulation 3 shall, subject to certain exceptions, apply to those occupational pension schemes which are—\n(a) approved by the Inland Revenue or subject to an application for such approval; or\n(b) exempt from tax by reason of being a superannuation fund approved before 6th April 1980.\nRegulation 3 provides that the proportion of a scheme’s resources that may at any time be invested in employer-related investments must not exceed 5 per cent.\nBy regulation 4 that limit does not apply to employer-related investments—\n(a) in bank or building society accounts;\n(b) of additional voluntary contributions provided that the member has agreed in writing; and\n(c) in policies of insurance issued in respect of persons who have agreed in writing.\nRegulation 5 provides that any employer-related investments which exceed the limit prescribed by regulation 3 on 9th March 1992 may, subject to certain time limits, be retained.\nRegulation 6 requires trustees of schemes to include in their annual report information on any employer-related investments of the scheme.\nThe Report of the Occupational Pensions Board on the draft of these Regulations which was referred to them, together with a statement by the Secretary of State showing that these Regulations give effect to the Board’s recommendations, is contained in Command Paper No. 1805, published by Her Majesty’s Stationery Office.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/246/note",
    "retrieved_at": "2026-10-29T14:29:40.437857+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."
}