| Guvnor

Status: In Force
Penalty ceiling: Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person18 Distributor11 Trader2 Employer1 Financial Services Firm1 Data Controller1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

Distributor — also bound by 182 other Acts

UK REACH Regulation (retained EU law) 44 duties

The Marketing of Fruit Plant and Propagating Material (England) Regulations 2017 28 duties

The Marketing of Fruit Plant and Propagating Material (Wales) Regulations 2017 26 duties

The Marketing of Fruit Plant and Propagating Material Regulations (Northern Ireland) 2017 25 duties

Electricity Safety, Quality and Continuity Regulations 2002 21 duties

Trader — also bound by 825 other Acts

Value Added Tax Regulations 1995 416 duties

Companies Act 2006 243 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 133 duties

Companies Act 1985 85 duties

Insolvency (England and Wales) Rules 2016 62 duties

Employer — also bound by 682 other Acts

The Income Tax (Pay As You Earn) Regulations 2003 241 duties

Provision and Use of Work Equipment Regulations 1998 120 duties

TULRCA 1992 72 duties

Income Tax (Earnings and Pensions) Act 2003 54 duties

Employment Rights (Northern Ireland) Order 1996 (current NI employment law) 53 duties

Financial Services Firm — also bound by 167 other Acts

Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision (Text with EEA relevance) 63 duties

Friendly Societies Act 1992 52 duties

Commission Delegated Regulation (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties (Text with EEA relevance) 52 duties

The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges , Clearing Houses and Central Securities Depositories ) Regulations 2001 50 duties

The Credit Unions (Northern Ireland) Order 1985 43 duties

Data Controller — also bound by 35 other Acts

UK GDPR (retained EU law) 127 duties

The Town and Country Planning (Entertainment Resort Complex, Bedford) Special Development (No. 2) Order 2025 50 duties

Data Protection Act 2018 46 duties

Regulation (EU) 2018/1139 (EASA Basic Regulation) 6 duties

Privacy and Electronic Communications Regulations 2003 5 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art008 Conditions for deregistration of a PEPP Regulated

PEPP provider must cease distribution upon deregistrationDistributor

s.art011 Prudential regime applicable to different types of providers Regulated

Comply with PEPP Regulation and your existing prudential regimeDistributor

s.art014 Exercise of the freedom to provide services and freedom of establishment by PEPP providers and PEPP distributors Regulated

Notify host Member State before distributing PEPPs across bordersDistributor

s.art015 Exercise of the freedom to provide services by IORPs and EU AIFM Regulated

Notify home regulator before first offering PEPPs in another EU/EEA stateFinancial Services Firm

s.art018 Provision of the portability service Regulated

Offer PEPP portability service and sub-accounts for at least 2 EU statesDistributor

s.art019 Sub-accounts of the PEPP Regulated

Ensure new PEPP sub-accounts comply with the new member state's legal requirements when providing portabilityAny Person

s.art020 Opening of a new sub-account Regulated

Inform PEPP saver about sub-account opening and provide free KID when they move to another EU countryTrader

s.art021 Provision of information on portability to the competent authorities Regulated

Notify home regulator before opening a new PEPP sub-account abroadAny Person

s.art022 General principle Regulated

Always act honestly and in your customers' best interests when selling PEPPsDistributor

s.art023 Distribution regime applicable to different types of PEPP providers and PEPP distributors Regulated

Comply with PEPP distribution rules under IDD or MiFID IIDistributor

s.art024 Electronic distribution and other durable mediums Regulated

Provide PEPP documents and information electronically and on request in other durable mediumDistributor

s.art025 Product oversight and governance requirements Regulated

Set up and maintain product oversight and governance for PEPPsAny Person

s.art026 PEPP KID Regulated

Provide a PEPP KID and supplementary pre‑contractual informationAny Person

s.art028 Content of the PEPP KID Regulated

Provide a compliant PEPP Key Information Document (KID)Any Person

s.art030 Revision of the PEPP KID Regulated

Review PEPP KID annually and revise if neededAny Person

s.art033 Provision of the PEPP KID Regulated

Provide PEPP KID to prospective savers before they sign a contractDistributor

s.art034 Specification of demands and needs and provision of advice Regulated

Assess customer needs and provide personalised PEPP adviceDistributor

s.art035 General provisions Regulated

Provide annual PEPP Benefit Statement and notify changes to PEPP saversAny Person

s.art038 Information to be given to PEPP savers during the pre-retirement phase and to PEPP beneficiaries during the decumulation phase Regulated

Provide PEPP savers and beneficiaries with decumulation informationAny Person

s.art039 Information to be given on request to PEPP savers and PEPP beneficiaries Regulated

Provide supplementary information on requestAny Person

s.art040 General provisions Regulated

Submit additional supervisory information to your competent authorityAny Person

s.art041 Investment rules Regulated

Follow prudent investment rules for PEPP pension assetsAny Person

s.art042 General provisions Regulated

Design PEPP investment options with guarantee or risk-mitigationAny Person

s.art045 The Basic PEPP Regulated

Design Basic PEPP with capital protection and cap costs at 1% annuallyAny Person

s.art046 Risk-mitigation techniques Regulated

Use sound risk-mitigation techniques in PEPP investment strategiesAny Person

s.art048 Depositary Regulated

Appoint one or more depositaries for PEPP assets and oversightEmployer

s.art050 Complaints Regulated

Set up and operate complaint handling procedures for PEPP customersDistributor

s.art052 Provision of the switching service Regulated

Provide a PEPP switching service on requestTrader

s.art055 Protection of PEPP savers against financial loss Regulated

Refund financial losses caused by PEPP switching non-complianceAny Person

s.art056 Information about the switching service Regulated

Give PEPP savers full details about the switching service and publish them on your websiteAny Person

s.art058 Forms of out-payments Regulated

Offer PEPP savers at least one form of out-payment (annuity, lump sum, drawdown, or combination)Any Person

s.art059 Modifications of the forms of out-payments Regulated

Let PEPP savers change their out-payment form for free at key timesData Controller

s.art060 Retirement planning and advice on out-payments Regulated

Offer personal retirement planning and out-payment advice at decumulationAny Person

s.art071 Processing of personal data Regulated

Process personal data in line with UK data protection laws under PEPPDistributor

40 other provisions — procedural and definitional

s.art001 Subject matter

s.art002 Definitions

s.art003 Applicable rules

s.art004 PEPP contract

s.art005 Registration

s.art006 Application for registration of a PEPP

s.art007 Registration of a PEPP

s.art009 Designation

s.art010 Distribution of PEPPs

s.art012 Publication of national provisions

s.art013 Central public register

s.art016 Powers of the competent authorities of the host Member State

s.art017 The portability service

s.art027 Language of the PEPP KID

s.art029 Marketing materials

s.art031 Civil liabilities

s.art032 PEPP contracts which cover biometric risks

s.art036 PEPP Benefit Statement

s.art037 Supplementary information

s.art043 Choice of investment option by the PEPP saver

s.art044 Conditions for modification of the chosen investment option

s.art047 Conditions related to the accumulation phase

s.art049 Coverage of biometric risks

s.art051 Out-of-court redress

s.art053 The switching service

s.art054 Fees and charges connected with the switching service

s.art057 Conditions related to the decumulation phase

s.art061 Supervision by the competent authorities and monitoring by EIOPA

s.art062 Powers of competent authorities

s.art063 Product intervention powers of competent authorities

s.art064 Facilitation and coordination

s.art065 Product intervention powers of EIOPA

s.art066 Cooperation and consistency

s.art067 Administrative penalties and other measures

s.art068 Exercise of the power to impose administrative penalties and other measures

s.art069 Publication of administrative penalties and other measures

s.art070 Duty to submit information to EIOPA in relation to administrative penalties and other measures

s.art072 Exercise of the delegation

s.art073 Evaluation and report

s.art074 Entry into force and application

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.

Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) (Text with EEA relevance)

Does it bind you?

Other Acts binding the same actors

What it requires