|
| |
|
(b) | if greater, the appropriate percentage of the rate of that pension. |
| |
(8) | For the purposes of sub-paragraph (7)(a), no increase in the rate of a pension |
| |
which is made at the discretion of the trustees or managers of the scheme, |
| |
the employer or any other person is to be regarded as an increase required |
| |
by virtue of the admissible rules. |
| 5 |
(9) | For the purposes of sub-paragraph (7)(b), “the appropriate percentage” is |
| |
the percentage increase in the general level of prices in Great Britain during |
| |
| |
(a) | beginning when the rate of the pension was last increased or, if there |
| |
has been no previous increase, the date the pension first became |
| 10 |
payable (or would have been payable but for its being postponed), |
| |
| |
(b) | ending with the time the relevant increase was made. |
| |
Accrual rate, pensionable service and pensionable earnings |
| |
33 (1) | In this Schedule, in relation to a member’s entitlement to benefits under the |
| 15 |
scheme, each of the following expressions has the meaning given by this |
| |
| |
| |
| “pensionable earnings”, and |
| |
| 20 |
(2) | “Accrual rate” means the rate at which under the admissible rules rights to |
| |
the benefits accrue over time by reference to periods of pensionable service. |
| |
(3) | “Pensionable earnings” means the earnings by reference to which the |
| |
benefits are calculated under the admissible rules. |
| |
(4) | Subject to sub-paragraphs (5) and (6), “pensionable service” means— |
| 25 |
(a) | service in any description of category of employment to which the |
| |
scheme applies which qualifies the member (on the assumption that |
| |
it continues for the appropriate period) for benefits under the |
| |
| |
(b) | any service attributable to transfer credits, and |
| 30 |
(c) | service which under the admissible rules of the scheme is |
| |
attributable to voluntary contributions paid by the member. |
| |
(5) | The service within sub-paragraph (4)(a) does not include service notionally |
| |
attributable for any purpose of the scheme. |
| |
(6) | In determining “pensionable service” no account is to be taken of admissible |
| 35 |
rules by which a period of service can be treated for any purpose as being |
| |
longer or shorter than it actually is. |
| |
| |
| |
| “deferred member”, in relation to the scheme, means a person who, |
| 40 |
under the admissible rules, has accrued rights under the scheme |
| |
| |
| |
(b) | a person who in respect of his pensionable service under the |
| |
scheme or by reason of transfer credits is entitled to the |
| 45 |
present payment of pension or other benefits; |
| |
|
| |
|
| |
|
| “normal benefit age”, in relation to the scheme and a person with |
| |
rights to a pension or lump sum under it attributable (directly or |
| |
indirectly) to a pension credit, means the age specified in the |
| |
admissible rules as the earliest age at which that pension or lump |
| |
sum becomes payable without actuarial adjustment (disregarding |
| 5 |
any scheme rule making special provision as to early payment on |
| |
grounds of ill health or otherwise); |
| |
| “pension credit” means a credit under section 29(1)(b) of the Welfare |
| |
Reform and Pensions Act 1999 (c. 30); |
| |
| “pension credit member”, in relation to the scheme, means a person |
| 10 |
who has rights under the scheme which are attributable (directly or |
| |
indirectly) to a pension credit; |
| |
| “pension credit rights”, in relation to the scheme, means rights to |
| |
future benefits under the scheme which are attributable (directly or |
| |
indirectly) to a pension credit; |
| 15 |
| “retail prices index” means— |
| |
(a) | the general index of retail prices (for all items) published by |
| |
the Office for National Statistics, or |
| |
(b) | where that index is not published for a month, any |
| |
substituted index or figures published by that Office; |
| 20 |
| “the scheme” is to be construed in accordance with paragraph 1; |
| |
| “transfer credits” means rights allowed to a member under the |
| |
admissible rules of the scheme by reference to a transfer to that |
| |
scheme of his accrued rights from another scheme (including any |
| |
transfer credits allowed by that scheme). |
| 25 |
(2) | For the purposes of this Schedule the accrued rights of a member of the |
| |
scheme at any time are the rights (other than rights attributable (directly or |
| |
indirectly) to a pension credit) which, in accordance with the admissible |
| |
rules, have accrued to or in respect of him at that time to future benefits |
| |
| 30 |
(3) | In this Schedule references to a pension or lump sum under the admissible |
| |
rules of the scheme, or a right to such a pension or lump sum, do not include |
| |
a pension or lump sum, or right to a pension or lump sum, which is a money |
| |
| |
(4) | In this Schedule references to “ill health” are to be construed in accordance |
| 35 |
with regulations under this sub-paragraph. |
| |
|
| |
|
| |
|
| | | | | | The Department of Enterprise, |
| | | | | Trade and Investment in Northern |
| (a) | Part 15 of the Companies |
| | | | | | | | | | 1986 (S.I. 1986/1032 (N.I. |
| | 5 | | | | | | | | (b) | the Insolvency (Northern |
| | | | | Ireland) Order 1989 (S.I. |
| | | | | | | | | | (c) | Part 2 of the Companies |
| | 10 | | | (No. 2) (Northern Ireland) |
| | | | | Order 1990 (S.I. 1990/1504 |
| | | | | | | | | The Department for Social |
| Functions under Part 3 of the |
| | | | Development in Northern Ireland. |
| Pension Schemes (Northern |
| | 15 | | | Ireland) Act 1993 (c. 49). |
| | | | An Inspector appointed by the |
| Functions under Part 15 of the |
| | | | Department of Enterprise, Trade |
| Companies (Northern Ireland) |
| | | | and Investment in Northern |
| | | | | | | | 20 | | A recognised professional body |
| Functions in its capacity as such a |
| | | | within the meaning of Article 350 |
| | | | | of the Insolvency (Northern |
| | | | | | | | | | The Gaming Board for Great |
| | | 25 | | | | | | | | | | | | | | | | | | | | | | | | | 30 |
|
|
| |
| |
Use and supply of information: private pensions policy and retirement |
| |
| |
Use of information held by Secretary of State etc |
| |
1 (1) | Section 3 of the Social Security Act 1998 (c. 14) (use of information) is |
| 35 |
| |
(2) | In subsection (1), for the words from “social security” to “training” substitute |
| |
“any of the matters specified in subsection (1A) below”. |
| |
(3) | After subsection (1) insert— |
| |
| 40 |
(a) | social security, child support or war pensions; |
| |
(b) | employment or training; |
| |
|
| |
|
| |
|
(c) | private pensions policy; |
| |
(d) | retirement planning.” |
| |
(4) | In subsection (2)(a), for the words from “social security” to “training” |
| |
substitute “any of the matters specified in subsection (1A) above”. |
| |
(5) | After subsection (4) insert— |
| 5 |
| |
| “private pensions policy” means policy relating to occupational |
| |
pension schemes or personal pension schemes (within the |
| |
meaning given by section 1 of the Pension Schemes Act 1993); |
| |
| “retirement planning” means promoting financial planning for |
| 10 |
| |
Supply of information held by tax authorities |
| |
2 (1) | This paragraph applies to information which is held— |
| |
(a) | by the Commissioners of Inland Revenue; |
| |
(b) | by a person providing services to the Commissioners of Inland |
| 15 |
Revenue, in connection with the provision of those services; |
| |
(c) | by the Commissioners of Customs and Excise; |
| |
(d) | by a person providing services to the Commissioners of Customs |
| |
and Excise, in connection with the provision of those services. |
| |
(2) | Information to which this paragraph applies may be supplied— |
| 20 |
(a) | to the Secretary of State or the Northern Ireland Department, or |
| |
(b) | to a person providing services to the Secretary of State or the |
| |
Northern Ireland Department, |
| |
| for use for the purposes of functions relating to private pensions policy or |
| |
| 25 |
(3) | An authorised officer may require information to which this paragraph |
| |
| |
(a) | to the Secretary of State or the Northern Ireland Department, or |
| |
(b) | to a person providing services to the Secretary of State or the |
| |
Northern Ireland Department, |
| 30 |
| for use for the purposes of functions relating to private pensions policy or |
| |
| |
(4) | In sub-paragraph (3) “authorised officer” means an officer of the Secretary of |
| |
State or the Northern Ireland Department authorised for the purposes of this |
| |
paragraph by the Secretary of State or the Northern Ireland Department. |
| 35 |
| |
| “private pensions policy” means policy relating to occupational |
| |
pension schemes or personal pension schemes; |
| |
| “retirement planning” means promoting financial planning for |
| |
| 40 |
| “the Northern Ireland Department” means the Department for Social |
| |
Development in Northern Ireland. |
| |
|
| |
|