These Regulations revoke, on a phased basis, the existing regulations relating to disclosure of information and replace them, again on a phased basis, with these Regulations.
The Regulations regulate the disclosure of financial and other information by occupational pension schemes. Under the Regulations the trustees of schemes are required to obtain annual audited accounts, including the auditor's report, and containing specified financial information, prepared by an auditor who fulfils certain requirements. The trustees must also obtain an actuarial valuation of the scheme at specified intervals, prepared by a qualified actuary (who is defined in the Regulations). Copies of the actuary's report must be made available for inspection free of charge or furnished, on request, to specified persons on payment of a reasonable charge.
In addition, trustees of schemes must provide an annual report containing, inter alia, a copy of the annual audited accounts for the scheme year, a copy of the
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