Explanatory note

These Regulations set out the circumstances in which a person responsible for a pension arrangement may recover charges in respect of the provision of information in connection with pensions on divorce, separation or nullity, complying with an earmarking or attachment order, or in connection with pension sharing activity.

Regulation 1 provides for citation, commencement and interpretation of the Regulations.

Regulation 2 specifies the requirements which must be met by persons responsible for pension arrangements before they may recover charges.

Regulation 3 specifies what charges a person responsible for a pension arrangement may recover as a result of providing information in accordance with the Pensions on Divorce etc. (Provision of Information) Regulations 2000.

Regulation 4 sets out how a person responsible for a pension arrangement may recover charges in respect of the provision of information.

Regulation 5 specifies the charges which are recoverable in respect of pension sharing activity.

Regulation 6 provides that additional amounts such as interest may be recovered by a person responsible for a pension arrangement in respect of pension sharing activity even though these amounts may not have been included in the schedule of charges issued to the member.

Regulation 7 provides that a person responsible for a pension arrangement may postpone the commencement of the implementation period pending the payment in full or in part of outstanding charges in respect of pension sharing activity.

Regulation 8 provides that if one party to pension sharing pays the other party’s proportion of the charges, he may recover from the other party the amount paid as a debt.

Regulation 9 sets out how a person responsible for a pension arrangement may recover charges in respect of pension sharing activity.

Regulation 10 specifies the prescribed charges which are recoverable by a person responsible for a pension arrangement in relation to complying with an earmarking order.

An assessment of the cost to business of the provisions of the Welfare Reform and Pensions Act 1999, including these Regulations, is detailed in the Regulatory Impact Assessment for that Act. A copy of this Assessment has been placed in the libraries of both Houses of Parliament. Copies can be obtained by post from the Department of Social Security, Pensions on Divorce, 3rd Floor, The Adelphi, 1-11 John Adam Street, London WC2N 6HT.