Pension Schemes (Conversion of Guaranteed Minimum Pensions) Bill

Explanatory Notes

Overview of the Bill

1 The Bill will amend provisions in the Pension Schemes Act 1993, the Pension Schemes (Northern Ireland) Act 1993, the Pensions Act 2007 and the Pensions Act (Northern Ireland) 2008 which allow occupational pension schemes to convert Guaranteed Minimum Pension (GMP) benefits into other scheme benefits. The amendments will simplify and clarify how these provisions operate.


10 March 2022