Commentary on Sections Part 3 – General Changes to Pensions Legislation about Pension Schemes Section 38: Disclosure of information about schemes
104.Section 113 of the Pension Schemes Act 1993 sets out a power for the Secretary of State to make regulations in relation to occupational and personal pension schemes, setting out requirements to keep certain persons informed of various matters including the scheme’s constitution, its administration and finances, and the rights and obligations that may arise under the scheme.
105.This section amends section 113, removing the list at subsection (2) of the persons who can be kept informed under provisions of the regulations, and instead specifying that it applies in respect of ‘persons of prescribed descriptions’ – that is, the persons who should be kept informed will be set out in secondary legislation.
106.The section also introduces a requirement for schemes to have regard to any guidance prepared by the Secretary of State when complying with disclosure requirements.