19 Occupational pension schemes: requirements to refer members to guidance etc
Financial Guidance and Claims Act 2018 (2018 c 10) | Legislation

19  Occupational pension schemes: requirements to refer members to guidance etc

(1)     The Pension Schemes Act 1993 is amended as set out in subsections (2) to (5).

(2)     After section 113A insert—

“113B Occupational pension schemes: requirements to refer members to guidance etc

(1)     The Secretary of State must make regulations requiring the trustees or managers of an occupational pension scheme to take the steps mentioned in subsections (2) and (3) in relation to an application from a relevant beneficiary—

(a)     to transfer any rights accrued under the scheme, or

(b)     to start receiving benefits provided by the scheme.

(2)     As part of the application process, the trustees or managers must ensure that—

(a)     the beneficiary is referred to appropriate pensions guidance, and

(b)     the beneficiary is provided with an explanation of the nature and purpose of such guidance.

(3)     Before proceeding with the application, the trustees or managers must ensure that the beneficiary has either received appropriate pensions guidance or has opted out of receiving such guidance.

(4)     The regulations may—

(a)     specify what constitutes appropriate pensions guidance;

(b)     make further provision about how the trustees or managers must comply with the duties in subsections (2) and

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