# The Parliamentary Pensions (Amendment) Regulations 2001, Note: Explanatory note


(This note is not part of the Regulations)
The Regulations amend the Parliamentary Pensions (Consolidation and Amendment) Regulations 1993 and replace Schedule 1 to those Regulations with a new one.
The Regulations remove the requirement for a Custodian Trustee, leaving the Trustees with responsibility for the Parliamentary Contributory Pension Fund (“the Fund”). Among the powers given to the Trustees, they may place the assets of the Fund under the control of a nominee (paragraph 7 of Schedule 1). They are also required to appoint a fund manager (paragraph 8) and prepare a statement of investment principles (paragraph (10). Paragraph 11 gives certain specific investment powers without affecting the Trustees' general investment powers.

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Source: https://www.legislation.gov.uk/uksi/2001/835/note (the official version)
Page: https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2001/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.