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The Pensions Act 2004 (Disclosure of Restricted Information by the Pensions Regulator) (Amendment of Specified Persons) Order 2022

S.I. 2022/1285 · Made 5 December 2022

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Pensions

Made 5th December 2022

Laid before Parliament 7th December 2022

Coming into force 28th December 2022

The Secretary of State for Work and Pensions, in exercise of the powers conferred by section 86(2)(a)(i) of the Pensions Act 2004f1, makes the following Order.

In accordance with section 86(2) of that Act, the Secretary of State has consulted with the Pensions Regulator.

Annotations to the whole text

Footnotes

f1

2004 c. 35.

Contents

  1. 1Citation, extent and commencement
  2. 2Disclosure of restricted information held by the Regulator
  3. Signature
  4. Explanatory note

1Citation, extent and commencement

(1)

This Order may be cited as the Pensions Act 2004 (Disclosure of Restricted Information by the Pensions Regulator) (Amendment of Specified Persons) Order 2022.

(2)

This Order extends to England and Wales and Scotland.

(3)

It comes into force on 28th December 2022.

2Disclosure of restricted information held by the Regulator

In Schedule 3 to the Pensions Act 2004 (restricted information held by the Regulator: certain permitted disclosure to facilitate exercise of functions), at the end of the table insert—

“

The Money and Pensions Service f1

Functions under-

(a) sections 238A to 238G, or

(b) section 3(1)(a) of the Financial Guidance and Claims Act 2018 in relation to the dashboards ecosystem (as defined in Schedule 1 to the Pensions Dashboards Regulations 2022 (S.I. 2022/1220)) or a pensions dashboard service.

”

Signature

Signed by authority of the Secretary of State for Work and Pensions

Laura Trott

Parliamentary Under Secretary of State

Department for Work and Pensions

5th December 2022

Explanatory note

(This note is not part of the Order)

Article 2 of this Order amends Schedule 3 to the Pensions Act 2004 to enable the Pensions Regulator to disclose restricted information to the Money and Pensions Service (“MaPS”) to facilitate the exercise by MaPS of certain functions. These are MaPS functions under: (a) sections 238A to 238G of the Pensions Act 2004, as inserted by the Pension Schemes Act 2021, in respect of which the Pensions Dashboard Regulations 2022/1220 have been made, and (b) the Financial Guidance and Claims Act 2018 in relation to the dashboard ecosystem and pensions dashboard services.

A pensions dashboard service is an electronic communications service intended to enable individuals (or other authorised persons) to request and view information relating to an individual’s pension entitlements electronically. The dashboards ecosystem is a term used and defined in the Pensions Dashboards Regulations 2022 for the interconnected system that enables pensions dashboard services to work in accordance with those Regulations.

The functions exercised by MaPS include setting standards on matters such as connection and security and the provision of the dashboards ecosystem including the connection and disconnection of pension schemes to it.

An impact assessment has not been prepared for this instrument as no impact on the costs of business or the voluntary sector is foreseen.