{
  "url": "https://openlegislation.uk/pension-schemes-act-2026/section-8",
  "json_url": "https://openlegislation.uk/pension-schemes-act-2026/section-8.json",
  "legislation": "ukpga/2026/22",
  "legislation_title": "Pension Schemes Act 2026",
  "legislation_url": "https://openlegislation.uk/pension-schemes-act-2026",
  "path": "section/8",
  "kind": "section",
  "number": "8",
  "heading": "Interpretation of Chapter 1",
  "text": "(1) In this Chapter—\n“asset pool company” has the meaning given by section 1(9)(a);\n“local government worker” has the same meaning as in PSPA 2013 (see paragraph 3 of Schedule 1 to that Act);\n“management” and related expressions, in relation to the funds and assets of a scheme for local government workers, include (among other things)—\n(a) buying, selling or holding assets;\n(b) setting asset allocation;\n(c) establishing and managing pooled investment vehicles;\n(d) selecting investments;\n(e) acting as a responsible investor (including by acting as a shareholder in an investee company);\n(f) deciding whether to develop or use internal investment management capability or external investment managers;\n(g) managing cash flow;\n“PSPA 2013” means the Public Service Pensions Act 2013;\n“participates” and related expressions, in relation to an asset pool company, are to be interpreted in accordance with section 1(9)(b);\n“prescribed” means prescribed by scheme regulations;\n“the responsible authority” means (in relation to a scheme for local government workers in England and Wales or Scotland)—\n(a) the Secretary of State, in or as regards England and Wales, or\n(b) the Scottish Ministers, in or as regards Scotland;\n“scheme” means a scheme (within the meaning of PSPA 2013) established under section 1 of that Act;\n“scheme manager”, in relation to a scheme for local government workers, means a person who is a scheme manager by virtue of section 4(5) of PSPA 2013 (being a person responsible for the local administration of pensions and other benefits payable under the scheme who maintains a pension fund for the purposes of providing pensions and other benefits under its part of the scheme);\n“scheme regulations” means regulations made under section 1 of PSPA 2013.\n(2) A reference in this Chapter to the funds and other assets for which a scheme manager is responsible is to the funds and other assets which are (or should be) held as part of its pension fund for the purpose of providing pensions and other benefits under its part of a scheme for local government workers.\n(3) Nothing in this Chapter is to be taken as affecting the generality of the powers conferred by section 1 or 3(1) of, or any provision of Schedule 3 to, PSPA 2013.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 8 in force at Royal Assent for specified purposes, see s. 133(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/22/section/8",
    "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."
}