Regulation 2 Exemption from trust requirement

An occupational pension scheme which is—

(a)

a public service pension scheme;

(b)

an occupational pension scheme with fewer than two members; or

(c)

an occupational pension scheme which—

(i)

has fewer than 100 members;

(ii)

provides relevant benefits; and

(iii)

is neither—

(aa)

an approved scheme;

(bb)

a relevant statutory scheme; nor

(cc)

a registered scheme;

is a scheme of a prescribed description for the purposes of section 252(4) of the 2004 Act (UK-based scheme to be trust with effective rules).