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The Pension Schemes Act 2017 (Commencement No. 2) Regulations 2018

S.I. 2018/965 · Made 4 September 2018

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 4th September 2018

The Secretary of State for Work and Pensions makes the following Regulations in exercise of the power conferred by section 44(2) of the Pension Schemes Act 2017f1.

Annotations to the whole text

Footnotes

f1

2017 c. 17.

Contents

  1. 1Citation
  2. 2Commencement of Part 1 of the Pension Schemes Act 2017
  3. Signature
  4. Explanatory note

1Citation

These Regulations may be cited as the Pension Schemes Act 2017 (Commencement No. 2) Regulations 2018.

2Commencement of Part 1 of the Pension Schemes Act 2017

The day appointed for the coming into force of Part 1 of the Pension Schemes Act 2017 (Master Trusts), so far as not already in force, is—

(a)

the day after the day on which these Regulations are made, for the purposes of making regulations, and

(b)

1st October 2018, for all other purposes.

Signature

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

Guy Opperman

Parliamentary Under Secretary of State

Department for Work and Pensions

4th September 2018

Explanatory note

(This note is not part of the Regulations)

These Regulations bring into force on 1st October 2018 the provisions of Part 1 of the Pension Schemes Act 2017 (c. 17) (“the Act”) which are not already in force. However, for the specific purpose of making regulations under it, Part 1 is brought into force the day after these Regulations are made.

These are the second commencement regulations made under the Act, and bring into force the last remaining provisions of the Act.

Part 1 of the Act defines Master Trust occupational pension schemes and sets out requirements for the authorisation and operation of those schemes. The Explanatory Notes for the Act explain its provisions and are available online (http://www.legislation.gov.uk/ukpga/2017/17/notes) and in hard copy from TSO (The Stationery Office), PO Box 29, Norwich NR3 1GN (telephone orders/general enquiries: 0333 202 5070; email: [email protected]).

These Regulations have no effect on the costs of business or the voluntary sector, and no impact assessment has been produced.