The Occupational Pension Schemes (Modification of Schemes) Regulations 2006
These Regulations prescribe certain requirements which must be met where an occupational pension scheme is modified using a power conferred on any person by a scheme and where the subsisting rights provisions apply. The subsisting rights provisions are contained in sections 67 to 67I of the Pensions Act 1995 (c. 26) (amended and inserted by section 262 of the Pensions Act 2004 (c. 35)) and require that modifications to which they apply must either comply with the consent requirements or the actuarial equivalence requirements, as well as, the trustee approval and reporting requirements. These Regulations also enable trustees, in prescribed circumstances, to modify a trust scheme by way of a resolution.