Member

Part 6 and Schedule 7 make consequential amendments to other relevant legislation. Part 6 amends provisions in other legislation that give meaning to the term “scheme rules” to reflect provisions in this instrument that override rules of unconnected multiple employer collective money purchase schemes. It amends the Pensions Act 2004 to include the Pensions Regulator’s new power to issue a risk notice to a scheme proprietor of an unconnected multiple employer CDC scheme as one of its regulatory functions for the purposes of that Act. It amends the Pension Schemes Act 2017 relating to master trusts, so that the two multiple employer frameworks can operate in tandem and without duplicating authorisation requirements. This will avoid unnecessary burdens on business. Schedule 7 also amends other secondary legislation so that unconnected multiple employer collective money purchase schemes can operate as intended.