|
|
|
|
|
| (a) | his pensionable service terminates on the commencement of the |
|
| |
| (b) | as a result, he has rights, in relation to the scheme, under Chapter |
|
| 5 of Part 4 of the Pension Schemes Act 1993 (c. 48) (early leavers: |
|
| cash transfer sums and contribution refunds). |
|
| (2) | Where this paragraph applies, for the purposes of this Schedule the |
|
| member is to be treated as if, immediately before the assessment date, |
|
| |
| (a) | had relevant accrued rights to benefits under the scheme (within |
|
| the meaning of section 101AA(4) of that Act), and |
|
| (b) | did not have any other rights to benefits (other than benefits |
|
| attributable (directly or indirectly) to a pension credit) under the |
|
| |
551 | Page 282, line 26, at end insert— |
|
| “Power to modify Schedule in its application to certain schemes |
|
| 30B | Where the scheme is a prescribed scheme or a scheme of a prescribed |
|
| description, this Schedule applies with such modifications as may be |
|
| |
552 | Page 283, leave out line 4 |
|
553 | Page 283, line 8, leave out sub-paragraph (2) |
|
554 | Page 283, line 25, leave out from “disregarding” to end of line 26 and insert “— |
|
| (a) | in a case where sub-paragraph (4) applies, the recent rule |
|
| |
| (b) | in any case, any scheme rule which comes into operation on, or |
|
| operates by reference, to the winding up of the scheme or any |
|
| |
555 | Page 283, leave out line 40 |
|
556 | Page 283, line 46, leave out “changes attributable to” and insert “any scheme rules |
|
| or changes attributable to paragraph 3 of Schedule 5 to the Social Security Act |
|
| |
557 | Page 283, line 47, after “1995” insert “, section 31(4) of the Welfare Reform and |
|
| |
558 | Page 284, line 1, leave out paragraph (b) and insert— |
|
| “(b) | any enactment, or any scheme rules or changes which are |
|
| required or reasonably necessary to comply with an |
|
| |
| (ba) | any scheme rules or changes that come into operation on, |
|
| or operate by reference to, the winding up of the scheme |
|
| or any associated event, and” |
|
559 | Page 284, line 3, at beginning insert “any scheme rules or” |
|
560 | Page 284, line 5, after “scheme” insert “rules” |
|
561 | Page 284, line 12, at end insert “or” |
|
562 | Page 284, line 16, leave out from beginning to “or” in line 19 |
|
563 | Page 284, line 44, leave out from beginning to end of line 8 on page 285 and insert— |
|
|
|
|
|
|
| “(4) | Subject to sub-paragraph (5), “pensionable service” means— |
|
| (a) | actual service in any description of employment to which the |
|
| scheme applies which qualifies the member for benefits under |
|
| |
| (b) | any notional service allowed in respect of the member under the |
|
| admissible rules which qualifies the member for such benefits. |
|
| (5) | The service within sub-paragraph (4)(b) does not include— |
|
| (a) | service attributable (directly or indirectly) to a pension credit, or |
|
| (b) | service of a prescribed description.” |
|
564 | Page 285, line 12, leave out “under the scheme” |
|
565 | Page 285, line 15, leave out from “service” to “is” in line 16 |
|
566 | Page 285, leave out lines 25 and 26 |
|
567 | Page 285, leave out lines 39 to 48 |
|
568 | Page 286, line 5, leave out “under the scheme” |
|
|
569 | Page 289, line 43, leave out paragraph 1 |
|
570 | Page 289, line 43, at end insert— |
|
| “ | The issue of a determination notice under section (Approval of notices |
|
| issued under section 116) approving a notice issued under section 116. |
|
| | The failure to issue a determination notice under section (Approval of |
|
| notices issued under section 116).” |
|
571 | Page 290, line 1, leave out from “section” to end of line 2 and insert “116 by the |
|
| Board by virtue of section 117 (Board’s duty where failure to comply with section |
|
| |
572 | Page 290, line 4, after “a” insert “scheme failure” |
|
573 | Page 290, line 14, at end insert— |
|
| “ | The failure by the Board to obtain an actuarial valuation of a scheme |
|
| |
574 | Page 290, line 20, leave out “140(5)(a)” and insert “(Withdrawal following issue of |
|
| |
575 | Page 290, line 35, at end insert— |
|
| “ | Any determination by the Board under section 172(3)(a) (the eligible |
|
| schemes in respect of which the initial levy or the pension protection |
|
| levy is imposed) or the failure to make such a determination.” |
|
576 | Page 291, line 19, at end insert— |
|
| “26 | Any determination by the Board under section 180(6A)(a) (occupational |
|
| pension schemes in respect of which any fraud compensation levy is |
|
| imposed) or the failure to make such a determination. |
|
| 27 | The amount of any fraud compensation levy payable in respect of an |
|
| occupational pension scheme determined by the Board under section |
|
| |
|
|
|
|
|
|
577 | Page 292, line 17, leave out sub-paragraphs (3) and (4) |
|
|
578 | Page 293, leave out lines 32 to 35 and insert— |
|
| |
| (a) | may enable a person who has made an election under sub- |
|
| paragraph (1) (including one that the person is treated by sub- |
|
| paragraph (2) as having made) to change the election within a |
|
| prescribed period and in a prescribed manner, if prescribed |
|
| conditions are satisfied, and |
|
| (b) | if they enable a person to make an election under sub-paragraph |
|
| (1)(b) in respect of a period of deferment after receiving any |
|
| increase of pension under paragraph 1 by reference to that |
|
| period, may for the purpose of avoiding duplication of |
|
| |
| (i) | enable an amount determined in accordance with the |
|
| regulations to be recovered from the person in a |
|
| prescribed manner and within a prescribed period, or |
|
| (ii) | provide for an amount determined in accordance with |
|
| the regulations to be treated as having been paid on |
|
| account of the amount to which the person is entitled |
|
| |
579 | Page 296, leave out lines 26 to 29 and insert— |
|
| |
| (a) | may enable a person who has made an election under sub- |
|
| paragraph (2) (including one that the person is treated by sub- |
|
| paragraph (3) as having made) to change the election within a |
|
| prescribed period and in a prescribed manner, if prescribed |
|
| conditions are satisfied, and |
|
| (b) | if they enable a person to make an election under sub-paragraph |
|
| (2)(b) in respect of a period of deferment after receiving any |
|
| increase of pension under paragraph 4 by reference to that |
|
| period, may for the purpose of avoiding duplication of |
|
| |
| (i) | enable an amount determined in accordance with the |
|
| regulations to be recovered from the person in a |
|
| prescribed manner and within a prescribed period, or |
|
| (ii) | provide for an amount determined in accordance with |
|
| the regulations to be treated as having been paid on |
|
| account of the amount to which the person is entitled |
|
| |
580 | Page 300, leave out lines 1 to 4 and insert— |
|
| |
| (a) | may enable a person who has made an election under sub- |
|
| paragraph (1) (including one that the person is treated by sub- |
|
| paragraph (2) as having made) to change the election within a |
|
| prescribed period and in a prescribed manner, if prescribed |
|
| conditions are satisfied, and |
|
|
|
|
|
|
| (b) | if they enable a person to make an election under sub-paragraph |
|
| (1)(b) in respect of a period of deferment after receiving any |
|
| increase of pension under paragraph 2 by reference to that |
|
| period, may for the purpose of avoiding duplication of |
|
| |
| (i) | enable an amount determined in accordance with the |
|
| regulations to be recovered from the person in a |
|
| prescribed manner and within a prescribed period, or |
|
| (ii) | provide for an amount determined in accordance with |
|
| the regulations to be treated as having been paid on |
|
| account of the amount to which the person is entitled |
|
| |
|
581 | Page 304, line 2, at end insert— |
|
| “Public Records Act 1958 (c. 51) |
|
| | In Schedule 1 to the Public Records Act 1958 (definition of public |
|
| records), in Part 2 of the Table in paragraph 3 insert at the appropriate |
|
| |
| | “The Pensions Regulator.” |
|
| | “The Board of the Pension Protection Fund.” |
|
| | “The Ombudsman for the Board of the Pension Protection Fund.”” |
|
582 | Page 304, line 7, leave out “and” and insert— |
|
| | ““Employment by the Ombudsman for the Board of the Pension |
|
| |
583 | Page 304, line 11, leave out “and” |
|
584 | Page 304, line 12, at end insert— |
|
| | ““A deputy to the Ombudsman for the Board of the Pension |
|
| |
| | “A deputy to the Pensions Ombudsman.”, and |
|
| | “The Ombudsman for the Board of the Pension Protection Fund.”” |
|
585 | Page 304, line 12, at end insert— |
|
| “Matrimonial Causes Act 1973 (c. 18) |
|
| | After section 25D of the Matrimonial Causes Act 1973 (pensions: |
|
| |
| “25E | The Pension Protection Fund |
|
| (1) | The matters to which the court is to have regard under section |
|
| |
| (a) | in the case of paragraph (a), any PPF compensation to |
|
| which a party to the marriage is or is likely to be entitled, |
|
| |
| (b) | in the case of paragraph (h), any PPF compensation |
|
| which, by reason of the dissolution or annulment of the |
|
|
|
|
|
|
| marriage, a party to the marriage will lose the chance of |
|
| acquiring entitlement to, |
|
| | and, accordingly, in relation to PPF compensation, section |
|
| 25(2)(a) shall have effect as if “in the foreseeable future” were |
|
| |
| (2) | Subsection (3) applies in relation to an order under section 23 so |
|
| far as it includes provision made by virtue of section 25B(4) |
|
| |
| (a) | imposed requirements on the trustees or managers of an |
|
| occupational pension scheme for which the Board has |
|
| assumed responsibility in accordance with Chapter 3 of |
|
| Part 2 of the Pensions Act 2004 (pension protection) or |
|
| any provision in force in Northern Ireland corresponding |
|
| |
| (b) | was made before the trustees or managers of the scheme |
|
| received the transfer notice in relation to the scheme. |
|
| (3) | The order is to have effect from the time when the trustees or |
|
| managers of the scheme receive the transfer notice— |
|
| (a) | as if, except in prescribed descriptions of case— |
|
| (i) | references in the order to the trustees or managers |
|
| of the scheme were references to the Board, and |
|
| (ii) | references in the order to any pension or lump |
|
| sum to which the party with pension rights is or |
|
| may become entitled under the scheme were |
|
| references to any PPF compensation to which that |
|
| person is or may become entitled in respect of the |
|
| |
| (b) | subject to such other modifications as may be prescribed. |
|
| (4) | Subsection (5) applies to an order under section 23 if— |
|
| (a) | it includes provision made by virtue of section 25B(7) |
|
| which requires the party with pension rights to exercise |
|
| his right of commutation under an occupational pension |
|
| scheme to any extent, and |
|
| (b) | before the requirement is complied with the Board has |
|
| assumed responsibility for the scheme as mentioned in |
|
| |
| (5) | From the time the trustees or managers of the scheme receive the |
|
| transfer notice, the order is to have effect with such modifications |
|
| |
| (6) | Regulations may modify section 25C as it applies in relation to an |
|
| occupational pension scheme at any time when there is an |
|
| assessment period in relation to the scheme. |
|
| (7) | Where the court makes a pension sharing order in respect of a |
|
| person’s shareable rights under an occupational pension scheme, |
|
| or an order which includes provision made by virtue of section |
|
| 25B(4) or (7) in relation to such a scheme, the Board subsequently |
|
| assuming responsibility for the scheme as mentioned in |
|
| subsection (2)(a) does not affect— |
|
|
|
|
|
|
| (a) | the powers of the court under section 31 to vary or |
|
| discharge the order or to suspend or revive any provision |
|
| |
| (b) | on an appeal, the powers of the appeal court to affirm, |
|
| reinstate, set aside or vary the order. |
|
| (8) | Regulations may make such consequential modifications of any |
|
| provision of, or made by virtue of, this Part as appear to the Lord |
|
| Chancellor necessary or expedient to give effect to the provisions |
|
| |
| |
| | “assessment period” means an assessment period within the |
|
| meaning of Part 2 of the Pensions Act 2004 (pension |
|
| protection) (see sections 124 and 150 of that Act) or an |
|
| equivalent period under any provision in force in |
|
| Northern Ireland corresponding to that Part; |
|
| | “the Board” means the Board of the Pension Protection |
|
| |
| | “occupational pension scheme” has the same meaning as in |
|
| the Pension Schemes Act 1993; |
|
| | “prescribed” means prescribed by regulations; |
|
| | “PPF compensation” means compensation payable under |
|
| Chapter 3 of Part 2 of the Pensions Act 2004 (pension |
|
| protection) or any provision in force in Northern Ireland |
|
| corresponding to that Chapter; |
|
| | “regulations” means regulations made by the Lord |
|
| |
| | “shareable rights” are rights in relation to which pension |
|
| sharing is available under Chapter 1 of Part 4 of the |
|
| Welfare Reform and Pensions Act 1999 or any provision |
|
| in force in Northern Ireland corresponding to that |
|
| |
| | “transfer notice” has the same meaning as in section 151 of |
|
| the Pensions Act 2004 or any corresponding provision in |
|
| force in Northern Ireland. |
|
| (10) | Any power to make regulations under this section is exercisable |
|
| by statutory instrument, which shall be subject to annulment in |
|
| pursuance of a resolution of either House of Parliament.”” |
|
586 | Page 304, line 12, at end insert— |
|
| “Matrimonial and Family Proceedings Act 1984 (c. 42) |
|
| (1) | The Matrimonial and Family Proceedings Act 1984 is amended as |
|
| |
| (2) | In section 18 (matters to which the court is to have regard in exercising |
|
| its powers under section 17)— |
|
| |
| (i) | in paragraph (a) after “have” insert “and any PPF |
|
| compensation to which a party to the marriage is or is |
|
| |
| (ii) | in paragraph (b) after “include” insert “— |
|
|