{
  "url": "https://openlegislation.uk/pension-schemes-act-2026/section-62",
  "json_url": "https://openlegislation.uk/pension-schemes-act-2026/section-62.json",
  "legislation": "ukpga/2026/22",
  "legislation_title": "Pension Schemes Act 2026",
  "legislation_url": "https://openlegislation.uk/pension-schemes-act-2026",
  "path": "section/62",
  "kind": "section",
  "number": "62",
  "heading": "Prohibition of unauthorised superfund activity",
  "text": "(1) Where a pension scheme is not part of an authorised superfund, a person may not—\n(a) promote the scheme (generally or to a particular person) with a view to its receiving a superfund transfer,\n(b) enter into any arrangements on behalf of the scheme with a view to its receiving a superfund transfer, or\n(c) cause or permit such promotion to take place or such arrangements to be entered into.\n(2) Subsection (1) does not apply where the person takes all reasonable steps to ensure—\n(a) in relation to promotion of a scheme, that it is clear from the promotion that the scheme is not part of an authorised superfund;\n(b) in relation to arrangements entered into, that it is clear to every party to the arrangements, as at the time when the arrangements are entered into, that the scheme is not part of an authorised superfund.\n(3) A person who breaches subsection (1) commits an offence.\n(4) A person who commits an offence under subsection (3) is liable—\n(a) on summary conviction in England and Wales, to a fine;\n(b) on summary conviction in Scotland, to a fine not exceeding the statutory maximum;\n(c) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine or both.\n(5) Section 88A of the Pensions Act 2004 (financial penalties) applies to a person who breaches subsection (1) (but see subsection (10) of that section, which prevents a penalty from being imposed in respect of an act where the person has been convicted of an offence in respect of the same act, or where proceedings for such an offence are ongoing).",
  "extent": "E+W+S",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 62 not in force at Royal Assent, see s. 133(7)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/22/section/62",
    "retrieved_at": "2026-10-29T08:41:23.531539+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."
}