Moved by
Baroness Altmann
28: Clause 110, page 97, line 2, at end insert—
“72B Provision of information: further provision
(1) The Regulator may, by notice in writing, require the trustees of a scheme to which section 35 of the Pensions Act 1995 applies to provide information as set out in subsection (5).
(2) A notice under subsection (1) may include a requirement for information—
(a) to be disclosed to the Regulator on a periodic basis, and
(b) in respect of specified periods of time.
(3) Where the provision of information is required by a notice under subsection (1), the information must be provided in such a manner, at such a place and within such a period as may be specified in the notice.
(4) The Regulator must publish information provided in respect of the provisions set out in subsection (5) on its website within one month of receiving it in a form that is searchable and easily accessible.
(5) For the purposes of subsection (1), information to be provided on request of the Regulator is any information set out in—
(a) regulation 29A of the Occupational and Personal Pension Scheme (Disclosure of Information) Regulations 2013 (publishing charges and transaction costs and other relevant information), and
(b) paragraph 30 of Schedule 3 of the Occupational and Personal Pension Scheme (Disclosure of Information) Regulations 2013.”
Member’s explanatory statement
This amendment would place a reporting duty on the Pensions Regulator to publish statements of investment principles (SIPs) under section 35 of the Pensions Act 1995. The amendment would place a requirement on the Pensions Regulator to create a SIP repository, accessible to the public through its website, so that all scheme members could check their scheme’s investment strategy.