OpenLegislation

Regulation 16 ... Voluntary connectionF11I1

England, Wales and Scotland

(1)

Where trustees or managers—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

wish to connect a pension scheme to the Money and Pensions Service on a voluntary basis in circumstances where the scheme has fewer than 100 relevant members,

they must apply to the Money and Pensions Service for permission for the pension scheme to connect to the Money and Pensions Service F2... on a voluntary basis.

(2)

When applying for permission to connect under paragraph (1), trustees or managers must have regard to guidance on F3... voluntary connection issued from time to time by the Money and Pensions Service.

(3)

Subject to consultation with the Regulator, except where the Money and Pensions Service and the Regulator agree that such consultation is not needed, the Money and Pensions Service may grant permission for F4... voluntary connection by such a date as the Money and Pensions Service considers appropriate (referred to in this regulation as the “agreed deadline”).

(4)

Where permission is granted for F5... voluntary connection under paragraph (3)—

(a)

the agreed deadline remains fixed, F6... unless—

(i)

permission to defer connection is given under regulation 17, or

(ii)

all the members of the scheme become pensioner members F7.

F8(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

Once permission to connect F9... on a voluntary basis has been granted under paragraph (4), trustees or managers must—

(a)

register the scheme with the Money and Pensions Service, having regard to the guidance referred to in regulation 15(2)(d);

(b)

connect the pension scheme to the Money and Pensions Service F10by no later than the agreed deadline, in compliance with the standards referred to in regulation 15(2)(c) and having regard to the guidance referred to in regulation 15(2)(d);

(c)

meet the requirements in regulation 15(4) and (5).

Annotations

Textual amendments

F1

reg. 16(1)(a) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(b)(i)

F2

Words in reg. 16(1) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(b)(ii)

F3

Words in reg. 16(2) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(c)

F4

Words in reg. 16(3) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(c)

F5

Words in reg. 16(4) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(d)(i)

F6

Words in reg. 16(4)(a) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(d)(ii)(aa)

F7

Full stop in reg. 16(4)(a)(ii) substituted for semicolon (9.8.2023) by The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(d)(ii)(bb)

F8

Reg. 16(4)(b) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(d)(iii)

F9

Words in reg. 16(5) omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(e)(i)

F10

Words in reg. 16(5)(b) substituted (9.8.2023) by The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(e)(ii)

F11

Words in reg. 16 heading omitted (9.8.2023) by virtue of The Pensions Dashboards (Amendment) Regulations 2023 (S.I. 2023/858), regs. 1(2), 5(a)

Commencement

I1

Reg. 16 in force at 12.12.2022, see reg. 1(2)