PERG 10 Annex 4 Table summarising regulatory position of employers and affinity groups.

Establishing or setting up an occupational pension scheme or a group personal pension scheme or a stakeholder pension scheme.

Establishing an occupational pension scheme is not a regulated activity. Setting up a group personal pension scheme is likely to involve arranging (see Q43).

Establishing a stakeholder pension scheme is a regulated activity in its own right. But an employer who is designating a stakeholder pension scheme as required by law is not, as a result of that fact alone, establishing the scheme (see Q46).

In any event, the employer or affinity group will only need to be authorised or exempt if they are carrying on regulated activity by way of business which, in most instances, should not be the case (see Q6, Q44 and Q45).

Acting as trustee of a trust-based stakeholder pension scheme.

This willbe a regulated activity ifthe trustee is operating the stakeholder pension scheme. But the employer or affinity group will only need to be authorised or exempt if, as trustee, they are acting by way of business which, in most instances, should not be the case (see Q6, Q44 and Q45).

Arranging for employees to participate in an occupational pension scheme or a group personal pension scheme or a stakeholder pension scheme.

Arranging for employees to participate in an occupational pension scheme (other than one that is also a stakeholder pension scheme) is not a regulated activity as the employees are not acquiring investments. Arranging for employees to participate in a grouppersonal pension scheme is likely to involve arranging as is arranging for employees to participate in a stakeholder pension scheme. But the employer or affinity group will only need to be authorised or exempt if they are acting by way of business which, in most instances, should not be the case (see Q6, Q44 and Q45).

Advising employees on the merits of participating in an occupational pension scheme or a group personal pension scheme or a stakeholder pension scheme, including advising employees against joining a personal pension scheme or advising them to transfer from a personal pension scheme.

Advice on the merits of participating in an occupational pension scheme (other than one that is also a stakeholder pension scheme) is not a regulated activity as the employees are not acquiring investments. Advice on the merits of participating in a group personal pension scheme or astakeholder pension scheme will be a regulated activity. Advice against joining or to transfer from a personal pension scheme will be a regulated activity if the advice relates to a particular security or relevant investment that is or is to be held under the scheme or if the scheme is a stakeholder pension scheme. If the advice relates to personal pension schemes generally but not one in particular it will not be a regulated activity (see Q39 and Q40).

But the employer or affinity group will only need to be authorised or exempt if they are acting by way of business which, in most instances, should not be the case (see Q6, Q44 and Q45).

Assisting in the administration of an occupational pension scheme or a group personal pension scheme or a stakeholder pension scheme.

Any of these could involve regulated activity (see Q31). But the employer or affinity group will only need to be authorised or exempt if they are acting by way of business which, in most instances, should not be the case (see Q6, Q44 and Q45).

Providing in-house administration services to the trustee of the employer's OPS and safekeeping services for documents of title such as bearer certificates.

This may amount to safeguarding and administering investments if the employer undertakes both activities.

But the employer or affinity group will only need to be authorised or exempt if they are acting by way of business which, in most instances, should not be the case (see Q6, Q44 and Q45).