Regulation 2A Collective money purchase schemes during winding-upF1

Chapter 1 of Part 4ZA of the 1993 Act does not apply to a member of a collective money purchase scheme which is pursuing continuity option 1 within the meaning of sections 34 and 36 of the Pension Schemes Act 2021, during the winding-up period for that scheme.

In this regulation—

• “single or connected employer scheme” and “unconnected multiple employer scheme” have the meanings given by section 1(3) of the Pension Schemes Act 2021;

• “winding-up period” has the meaning given by—

  1. (a)

     in relation to a single or connected employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022;

  2. (b)

     in relation to an unconnected multiple employer scheme, paragraph 1(1) of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025.