PERG 12.1 Background

1Q1. What is the purpose of these questions and answers ('Q&As') and who should be reading them?

These Q&As are aimed at, and should be read by, persons involved in the running of a personal pension scheme and those who give advice about or provide services to such schemes. They are intended to help such persons understand whether they will be carrying on a regulated activity and need authorisation or exemption under section 19 of the Financial Services and Markets Act 2000 following the changes to pension legislation that took1 effect on 6 April 2007and on 6 April 20152. The Q&As complement the general guidance on regulated activities which is in Chapter 2 of our Perimeter Guidance manual ('PERG') and the general guidance about pensions-related activities which is in Chapter 10 of PERG.

The Q&As are set out under five 2 sections:

• 1establishing, operating or winding up a personal pension scheme (PERG 12.2);
• 1rights under a personal pension scheme (PERG 12.3);
• the application of EU Directives (PERG 12.4); and1
• financial promotion issues (PERG 12.5)1; and221
• advising on conversion or transfer of pension benefits (PERG 12.6).2