|
| |
|
(a) | after “ceasing to be such a scheme” insert “(including by virtue of |
| |
section 15(1) of the Pensions Act 2007)”; |
| |
(b) | in paragraph (a) after “other than” insert “one that was”; |
| |
(c) | in paragraph (b) for “in the case of a” substitute “in the case of an |
| |
occupational pension scheme that was a”. |
| 5 |
(3) | In subsection (2) (HMRC to issue a certificate if they withdraw etc. approval |
| |
for arrangements) after “whether by” insert “virtue of section 15(1) of the |
| |
| |
(4) | In subsection (4) (regulations may provide for various provisions of the Act |
| |
to have effect with modifications where arrangements are approved) for “26 |
| 10 |
to 33” substitute “25A to 33”. |
| |
(5) | In subsection (6) (approval of arrangements for salary related occupational |
| |
scheme may be withdrawn at any time) for “which is not a money purchase |
| |
contracted-out scheme” substitute “to which subsection (1)(a) applies”. |
| |
21 (1) | Section 52 (supervision of schemes which have ceased to be certified) is |
| 15 |
| |
(2) | In subsection (2) (occupational pension schemes to which section applies) in |
| |
paragraph (a) after “contracted-out scheme” insert “(whether by virtue of |
| |
section 15(1) of the Pensions Act 2007 or otherwise)”. |
| |
(3) | In subsection (3) (personal pension schemes to which section applies) in |
| 20 |
paragraph (a) after “appropriate scheme” insert “(whether by virtue of |
| |
section 15(1) of the Pensions Act 2007 or otherwise)”. |
| |
22 | In section 55 (payment of state scheme premiums on termination of certified |
| |
status) in subsection (2) (prescribed person to pay contributions equivalent |
| |
premium) in paragraph (a) omit “(other than a money purchase contracted- |
| 25 |
| |
23 | In section 68A (safeguarded rights) in subsection (5) (interpretation) for “or |
| |
(3)” substitute “or a money purchase contracted-out scheme”. |
| |
24 | In section 87 (general protection principle) in subsection (1) (when |
| |
subsection applies) in paragraph (a)(i), for “which is not a money purchase |
| 30 |
contracted out scheme” substitute “that satisfies the requirements of section |
| |
| |
25 | In section 96 (further provisions concerning exercise of option to take cash |
| |
equivalent under section 95) in subsection (2) (circumstances in which |
| |
option must be exercised in relation to balance of cash equivalent after |
| 35 |
deducting amount sufficient to meet certain liabilities of trustees etc.) in |
| |
paragraph (a)(ii) omit “which is not an appropriate scheme”. |
| |
26 (1) | Section 156 (information for the purposes of contracting-out) is amended as |
| |
| |
(2) | In subsection (1) (Secretary of State or HMRC may give information to |
| 40 |
managers or trustees of scheme) for “or appropriate scheme” substitute “or |
| |
personal pension scheme”. |
| |
(3) | In the sidenote, for “contracting-out” substitute “of obligations under Part |
| |
| |
|
| |
|
| |
|
27 | In section 163 (exemption of certain schemes from rule against perpetuities) |
| |
in subsection (2) (schemes to which the exemption applies) omit paragraph |
| |
(c) (appropriate schemes). |
| |
28 | In section 164 (Crown employment) for subsection (2) substitute— |
| |
“(2) | A person who is employed by or under the Crown shall be treated as |
| 5 |
an employed earner for the purposes of— |
| |
(a) | sections 25A to 33A, so far as they relate to personal pension |
| |
| |
(b) | sections 38, 43 and 45; |
| |
(c) | section 48, so far as it relates to minimum contributions; |
| 10 |
(d) | section 50, so far as it relates to personal pension schemes; |
| |
| |
(f) | section 111 (and Part VIII and section 153 so far as they have |
| |
effect for the purposes of section 111); |
| |
(g) | sections 117, 154 and 155; |
| 15 |
(h) | section 159, so far as it relates to protected rights payments; |
| |
| |
(i) | sections 160 and 166.” |
| |
29 | In section 177 (general financial arrangements) in subsection (3) (amounts to |
| |
be paid out of National Insurance Fund into Consolidated Fund) in |
| 20 |
paragraph (b) (administrative expenses incurred in carrying into effect |
| |
remaining provisions of the Act) for sub-paragraph (ii) substitute— |
| |
“(ii) | sections 25A to 33A, so far as they relate to personal |
| |
| |
| 25 |
(iv) | section 50, so far as it relates to personal pension |
| |
| |
| |
(vi) | section 111 (and Part VIII and section 153 so far as |
| |
they have effect for the purposes of section 111); |
| 30 |
(vii) | sections 117, 154 and 155; |
| |
(viii) | section 159, so far as it relates to protected rights |
| |
| |
(ix) | sections 160 and 166;”. |
| |
30 (1) | Section 181 (general interpretation) is amended as follows. |
| 35 |
| |
(a) | in the appropriate places insert— |
| |
““abolition date” means the day appointed for the |
| |
commencement of section 15(1) of the Pensions Act |
| |
| 40 |
““HMRC” means the Commissioners for Her Majesty’s |
| |
| |
(b) | for the definition of “appropriate scheme certificate” and references |
| |
to an appropriate scheme, substitute— |
| |
““appropriate scheme” and “appropriate scheme |
| 45 |
certificate” are to be construed in accordance with |
| |
| |
|
| |
|
| |
|
(c) | in the definition of “contracting-out certificate” and references to |
| |
contracted-out scheme and to contracting-out, at the end insert “and |
| |
| |
(d) | for the definition of “money purchase contracted-out scheme” |
| |
| 5 |
““money purchase contracted-out scheme” is to be |
| |
construed in accordance with section 181A;”. |
| |
(3) | In subsection (4) (regulations may prescribe the persons who are to be |
| |
regarded as members or prospective members of an occupational scheme |
| |
| 10 |
31 | After section 181 insert— |
| |
“181A | Interpretation of references to money purchase contracted-out |
| |
schemes or appropriate schemes after abolition date |
| |
(1) | This section applies for the interpretation of this Act on and after the |
| |
| 15 |
(2) | An occupational pension scheme was a money purchase contracted- |
| |
out scheme at a time before the abolition date if, at that time, the |
| |
scheme was contracted-out by virtue of satisfying section 9(3) (as it |
| |
| |
(3) | A money purchase contracted-out scheme was, at a time before the |
| 20 |
abolition date, a contracted-out scheme in relation to an earner’s |
| |
employment if it was, at that time, specified in a contracting-out |
| |
certificate in relation to that employment; and references to the |
| |
contracting-out of a scheme are, in relation to a money purchase |
| |
contracted-out scheme, references to its inclusion in such a |
| 25 |
| |
(4) | Any reference to a contracting-out certificate is, in relation to a |
| |
money purchase contracted-out scheme, a reference to a certificate |
| |
issued by virtue of section 7, as it had effect before the abolition date, |
| |
in relation to the employment of an earner in employed earner’s |
| 30 |
employment which was contracted-out by reference to that scheme. |
| |
(5) | Any certificate so issued that was, at a time before the abolition date, |
| |
in force in respect of an employed earner’s employment is to be taken |
| |
as conclusive that the employment was, at that time, contracted-out |
| |
| 35 |
(6) | A personal pension scheme was an appropriate scheme at a time |
| |
before the abolition date if, at that time, there was in force a certificate |
| |
issued under section 7(1)(b) (as it then had effect) stating that the |
| |
scheme was an appropriate scheme; and “appropriate scheme |
| |
certificate” means such a certificate. |
| 40 |
(7) | Any appropriate scheme certificate in force in relation to a scheme at |
| |
any time before the abolition date is to be taken as conclusive that the |
| |
scheme was, at that time, an appropriate scheme.” |
| |
Pensions Act 1995 (c. 26) |
| |
32 (1) | Section 149 of the Pensions Act 1995 (hybrid occupational pension schemes) |
| 45 |
| |
|
| |
|
| |
|
(2) | In subsection (1) (regulations may make provision for hybrid schemes to be |
| |
treated as two contracted-out schemes) for “sections 9 and 12” substitute |
| |
| |
(3) | In paragraph (b) of that subsection, for “section 9(3)” substitute “the |
| |
requirements mentioned in section 25A(3)”. |
| 5 |
Welfare Reform and Pensions Act 1999 (c. 30) |
| |
33 | In section 1 of the Welfare Reform and Pensions Act 1999 (meaning of |
| |
“stakeholder pension scheme”)— |
| |
(a) | in subsection (1) in paragraph (a), for “(10)” substitute “(9)”; |
| |
(b) | omit subsection (10) (stakeholder pension scheme must be |
| 10 |
| |
34 | Omit section 7 of that Act (reduced rates of contributions for money |
| |
purchase contracted-out schemes and appropriate personal pension |
| |
schemes etc.: power to specify different percentages). |
| |
Pensions Act 2004 (c. 35) |
| 15 |
35 | In section 257 of the Pensions Act 2004 (conditions for pension protection on |
| |
transfer of employment) omit subsection (7) (minimum payments made |
| |
under contracted-out money purchase scheme to be disregarded). |
| |
| |
| 20 |
Social Security Contributions and Benefits Act 1992 (c. 4) |
| |
36 (1) | Section 4C of the SSCBA (power to make provision in consequence of |
| |
provision made by or by virtue of section 4B(2) etc.) is amended as follows. |
| |
(2) | In subsection (2) (purposes for which regulations may be made) omit |
| |
paragraph (d) (purposes relating to minimum payments). |
| 25 |
(3) | In subsection (5) (matters in respect of which regulations may have |
| |
| |
(a) | in paragraph (b) (amount of rebate under section 41(1D) or 42A(2C) |
| |
of the Pension Schemes Act 1993 (c. 48)) omit “or 42A(2C)”; |
| |
(b) | omit paragraphs (g) and (h) (liability to make, and amount of, |
| 30 |
| |
(c) | omit paragraphs (i) and (j) (liability to make, and amount of, |
| |
payments under section 42A(3) of that Act or minimum |
| |
| |
37 | In section 8 of the SSCBA (calculation of primary Class 1 contributions) in |
| 35 |
subsection (3) (provisions to which calculation is subject) in paragraph (c) |
| |
for “sections 41 and 42A” substitute “section 41”. |
| |
38 | In section 9 of the SSCBA (calculation of secondary Class 1 contributions) in |
| |
subsection (3) (provisions to which calculation is subject) in paragraph (c) |
| |
for “sections 41 and 42A” substitute “section 41”. |
| 40 |
39 (1) | In Schedule 1 to the SSCBA (supplementary provisions relating to |
| |
contributions of Classes 1, 1A, 1B, 2 and 3) paragraph 1 (Class 1 |
| |
|
| |
|
| |
|
contributions where earner is in more than one employment) is amended as |
| |
| |
(2) | In sub-paragraph (3) (determination of amount of primary Class 1 |
| |
contributions where aggregate earnings include earnings from contracted- |
| |
| 5 |
(a) | omit paragraphs (a) and (b); |
| |
(b) | in paragraph (c), for sub-paragraphs (i) and (ii) substitute “to such |
| |
part of the aggregated earnings attributable to COSRS service as |
| |
exceeds the current primary threshold and does not exceed the |
| |
current upper earnings limit”; |
| 10 |
(c) | in paragraph (d) for “part or parts attributable to COMPS or COSRS |
| |
service” substitute “part attributable to COSRS service”. |
| |
(3) | In sub-paragraph (6) (determination of amount of secondary Class 1 |
| |
contributions where aggregate earnings include earnings from contracted- |
| |
out employment) omit paragraphs (a) and (b). |
| 15 |
(4) | In sub-paragraph (9) (interpretation) omit the definition of “COMPS |
| |
| |
Pension Schemes Act 1993 (c. 48) |
| |
40 | The Pension Schemes Act 1993 has effect subject to the following |
| |
| 20 |
41 | In section 8 (meaning of, among other things, “minimum payment”) omit |
| |
subsection (3) (regulations may make provision about manner in which |
| |
minimum payments to be made etc.). |
| |
42 | In section 40 (scope of Chapter 2 of Part 3) omit paragraph (b) (which relates |
| |
to contributions to be paid by HMRC in respect of members of money |
| 25 |
purchase contracted-out schemes or of appropriate personal pension |
| |
| |
43 | Omit section 42A (reduced rates of contributions, and rebates, for members |
| |
of money purchase contracted-out schemes etc.). |
| |
44 | Omit section 43 (payment of minimum contributions to personal pension |
| 30 |
| |
45 | Omit section 45 (amount of minimum contributions). |
| |
46 | Omit section 45B (money purchase and personal pension schemes: |
| |
| |
47 | In section 50 (powers of HMRC to approve arrangements for scheme ceasing |
| 35 |
to be certified) in subsection (4) (regulations may provide for various |
| |
provisions of the Act to have effect with modifications where arrangements |
| |
are approved) for “, 25A to 33 and 43 to 45” substitute “and 25A to 33”. |
| |
48 | In section 164 (Crown employment) in subsection (2) (employees of Crown |
| |
to be treated as employed earners for certain purposes) in paragraph (b) |
| 40 |
| |
49 (1) | Section 177 (general financial arrangements) is amended as follows. |
| |
(2) | In subsection (2) (amounts to be paid out of the National Insurance Fund)— |
| |
|
| |
|
| |
|
(a) | in paragraph (za) (payments by HMRC under various provisions) |
| |
omit “or section 42A(2C) or (3)”; |
| |
(b) | omit paragraph (a) (minimum contributions paid by HMRC under |
| |
| |
(3) | In subsection (7) (amounts to be paid into National Insurance Fund) in |
| 5 |
paragraph (a), omit “, 42A(2D) or (5) or 43(5) or (6)”. |
| |
50 (1) | Section 181 (interpretation) is amended as follows. |
| |
(2) | In subsection (1), omit the definition of “minimum contributions”. |
| |
(3) | In subsection (4) (regulations may prescribe the persons who are to be |
| |
regarded as members or prospective members of an occupational scheme |
| 10 |
| |
51 (1) | Schedule 2 (certification regulations) is amended as follows. |
| |
(2) | In Part 1 (occupational pension schemes) in paragraph 4 (regulations may |
| |
modify certain provisions of Part 3 in cases where person employed in two |
| |
or more employments) in sub-paragraph (1), for “and 66 to 68” substitute “, |
| 15 |
| |
(3) | In paragraph 5 (state scheme premiums) in sub-paragraph (1) (regulations |
| |
may require provision of information to HMRC for purpose of certain |
| |
provisions) for the words from “sections 37” to the end substitute “sections |
| |
37, 38, 50 to 63 and 159(1) to (3) and (6) (except as they apply to personal |
| 20 |
pension schemes, the members of such schemes or rights in respect of |
| |
| |
(4) | In paragraph 6 (schemes covering different employers) in sub-paragraph (1) |
| |
(regulations may modify certain provisions in cases where earner under |
| |
different employers qualifies for benefits of same occupational pension |
| 25 |
scheme) for “and 66 to 68” substitute “, 67 and 68”. |
| |
52 (1) | Paragraph 2 of Schedule 4 (priority in bankruptcy etc.: employer’s |
| |
contributions to occupational pension scheme) is amended as follows. |
| |
(2) | Omit sub-paragraphs (2) and (3) (sums owed on account of employer’s |
| |
minimum payments to a money purchase contracted-out scheme). |
| 30 |
(3) | In sub-paragraph (3A) (definition of “the appropriate amount”)— |
| |
(a) | in the opening words, omit “or (3)”; |
| |
(b) | in paragraph (a), omit “or (2) (as the case may be)”. |
| |
(4) | In sub-paragraph (5) (interpretation)— |
| |
(a) | in the definition of “the percentage for contributing earners”, for |
| 35 |
paragraphs (a) and (b) substitute “3 per cent”; |
| |
(b) | in the definition of “the percentage for non-contributing earners”, for |
| |
paragraphs (a) and (b) substitute “4.8 per cent”. |
| |
|
| |
|
| |
|
| |
| |
Issue and cancellation etc. of certificates for periods before the abolition date |
| |
53 | Nothing in the relevant amendments and repeals affects the continued |
| |
operation of any regulations in force under section 7(1) and (7) of the PSA |
| 5 |
1993 (issue of certificates) immediately before the abolition date in relation |
| |
to the issue of a certificate having effect for a period before the abolition date. |
| |
54 (1) | Nothing in the relevant amendments and repeals affects the continued |
| |
operation of section 34 of the PSA 1993 (cancellation, variation, surrender |
| |
and refusal of certificates), or any regulations in force under it immediately |
| 10 |
before the abolition date, for the purposes of a retrospective act. |
| |
(2) | In sub-paragraph (1) “a retrospective act” means the cancellation, variation, |
| |
surrender or refusal of a certificate, or the issue of an amended certificate, |
| |
| |
(a) | the certificate was in force for a period beginning before the abolition |
| 15 |
date (or, in the case of a refusal of a certificate, would have related to |
| |
such a period if it had been issued), and |
| |
(b) | the cancellation, variation, surrender, refusal or issue— |
| |
(i) | is made after the abolition date, but |
| |
(ii) | has effect from a date before that date. |
| 20 |
(3) | An amended certificate issued by virtue of this paragraph must provide for |
| |
it to cease to have effect as from the abolition date. |
| |
(4) | In this paragraph and paragraph 53 “a certificate” means an appropriate |
| |
scheme certificate or a contracting-out certificate in respect of a money |
| |
purchase contracted-out scheme, and each of those terms has the meaning |
| 25 |
given by section 181(1) of the PSA 1993. |
| |
55 | Nothing in the relevant amendments and repeals affects the continued |
| |
operation of section 164(2) of the PSA 1993 (persons employed by or under |
| |
the Crown to be treated as employed earners for the purposes of certain |
| |
provisions) in relation to the provisions of that Act saved by paragraphs 53 |
| 30 |
| |
56 | Nothing in the relevant amendments and repeals affects the continued |
| |
operation of section 177(3)(b)(ii) of the PSA 1993 (administrative expenses of |
| |
the Secretary of State, other than those arising out of certain provisions, to be |
| |
paid out of the National Insurance Fund into the Consolidated Fund) in |
| 35 |
relation to the estimated administrative expenses of the Secretary of State in |
| |
carrying into effect the provisions of that Act saved by paragraphs 53 and 54. |
| |
Determination of question whether scheme was appropriate scheme |
| |
57 | Nothing in the relevant amendments and repeals affects the continued |
| |
operation of any regulations in force under section 7(6) of the PSA 1993 |
| 40 |
(issue of certificates) immediately before the abolition date. |
| |
Preservation of earner’s chosen scheme |
| |
58 (1) | Nothing in the relevant amendments and repeals— |
| |
|
| |
|