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Section 28I Penalties

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

F1Regulations may make provision about the imposition by the Regulatory Authority of a penalty on the trustees or managers of a relevant Master Trust or the provider of a group personal pension scheme where the scheme—

(a)

fails to meet the condition in section 20(1A) by virtue of not being approved under section 28A or 28C, and

(b)

accepts contributions from an employer in relation to a jobholder on the basis that it is an automatic enrolment scheme in relation to that jobholder.

(2)

Regulations may make provision about the imposition by the Regulatory Authority of a penalty on the provider of a group personal pension scheme where the scheme—

(a)

fails to meet the condition in section 26(7A) or (7B), and

(b)

accepts contributions from an employer in relation to a jobholder on the basis that it is an automatic enrolment scheme in relation to that jobholder.

(3)

The regulations must provide—

(a)

that a penalty must not exceed £100,000 in relation to each employer from which contributions are accepted as mentioned in subsection (1)(b) or (2)(b), and

(b)

that there is a right of appeal against the imposition of the penalty.

Annotations

Textual amendments

F1

Ss. 28A-28L inserted (29.4.2026 for specified purposes) by Pension Schemes Act 2026 (c. 22), ss. 40(12), 133(1)(4)(c)