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| | 46. In section 20(5), after "a", in the second place, there is inserted "qualifying".
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| | 47. In section 21(7)-
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(a) after "section" there is inserted- |
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"(a) "qualifying member", in relation to a trust scheme, means a person who is an active, deferred or pensioner member of the scheme, and |
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and
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(b) before "members" there is inserted "qualifying". |
| | 48. - (1) Section 38 is amended as follows.
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(2) In subsection (1), for the words from "that the scheme" to the end there is substituted-
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"(a) that the scheme is not for the time being to be wound up but that no new members are to be admitted to it, or |
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(b) that the scheme is not for the time being to be wound up but that no new members, except pension credit members, are to be admitted to it." |
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(3) In subsection (2), the words from "but" to the end are omitted.
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(4) After that subsection there is inserted-
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"(2A) Subsection (2) does not authorise the trustees to determine-
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(a) where there are accrued rights or pension credit rights to any benefit, that the benefit is not to be increased, or |
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(b) where the power conferred by that subsection is exercisable by virtue of a determination under subsection (1)(b), that members of the scheme may not acquire pension credit rights under it." |
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| | 49. In section 51(6), after "a pension" there is inserted "which is attributable (directly or indirectly) to a pension credit or".
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| | 50. In section 53, after subsection (3) there is inserted-
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"(3A) In subsections (1) and (2), the references to a person's pension do not include any pension which is attributable (directly or indirectly) to a pension credit."
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| | 51. - (1) Section 67 is amended as follows.
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(2) In subsection (2), for "or accrued right," there is substituted "accrued right or pension credit right".
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(3) In subsection (4)(a), for "or accrued rights," there is substituted "accrued rights or pension credit rights".
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(4) For subsection (5) there is substituted-
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"(5) Subsection (2) does not apply to the exercise of a power-
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(a) for a purpose connected with debits under section 26(1)(a) of the Welfare Reform and Pensions Act 1999, or |
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(b) in a prescribed manner." |
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| | 52. In section 68(2), for "and" at the end of paragraph (d) there is substituted-
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"(da) to enable the scheme to accommodate persons with pension credits or pension credit rights, and". |
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| | 53. In section 73, after subsection (3) there is inserted-
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"(3A) No pension or other benefit which is attributable (directly or indirectly) to a pension credit may be regarded for the purposes of subsection (3)(a) as derived from the payment of voluntary contributions."
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| | 54. In section 74(3)(b), at the end there is inserted "or pension credit rights".
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| | 55. - (1) Section 91 is amended as follows.
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(2) In subsection (1), for the words from ", or has" to "occupational pension scheme" there is substituted "to a pension under an occupational pension scheme or has a right to a future pension under such a scheme".
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(3) In subsection (2), for the words from ", or" to "scheme" there is substituted "to a pension under an occupational pension scheme, or right to a future pension under such a scheme,".
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(4) In subsection (5)-
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(a) for the words from ", or has" to "scheme" there is substituted "to a pension under an occupational pension scheme, or has a right to a future pension under such a scheme", |
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(b) in paragraph (d), for "accrued right, to pension" there is substituted "right,", and |
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(c) in paragraph (e), for "accrued right, to pension" there is substituted "right". |
| | 56. - (1) Section 92 is amended as follows.
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(2) In subsection (1), for the words from ", or" to "scheme" there is substituted "to a pension under an occupational pension scheme or a right to a future pension under such a scheme".
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(3) In subsection (4), for the words from "person entitled" to "accrued" there is substituted "pensioner, or prospective pensioner".
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| | 57. - (1) Section 93 is amended as follows.
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(2) In subsection (1), for the words from ", or" to "scheme" there is substituted "to a pension under an occupational pension scheme or right to a future pension under such a scheme".
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(3) In subsection (2)-
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(a) for "accrued right to a pension" there is substituted "right", and |
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(b) for "accrued right to a pension under the scheme" there is substituted "right". |
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(4) In subsection (4), for "accrued right to a pension" there is substituted "right".
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| | 58. In section 99(2)-
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(a) in paragraph (b), after "values)," there is inserted "Chapter II of Part IVA (pension credit benefit transfer values),", and |
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(b) at the end of that paragraph there is inserted- |
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"(ba) section 30 (time for discharge of pension credit liability) or 42 (information) of the Welfare Reform and Pensions Act 1999,". |
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| | 59. - (1) Section 124 is amended as follows.
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(2) In subsection (1), in the definition of "member", for "or pensioner" there is substituted ", pensioner or pension credit".
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(3) In that subsection, after the definition of "payment schedule" there is inserted-
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""pension credit" means a credit under section 26(1)(b) of the Welfare Reform and Pensions Act 1999 or under corresponding Northern Ireland legislation, |
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"pension credit member", in relation to an occupational pension scheme, means a person who has rights under the scheme which are attributable (directly or indirectly) to a pension credit, |
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"pension credit rights", in relation to an occupational pension scheme, means rights to future benefits under the scheme which are attributable (directly or indirectly) to a pension credit,". |
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(4) After subsection (2) there is inserted-
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"(2A) In subsection (2)(a), the reference to rights which have accrued to or in respect of the member does not include any rights which are pension credit rights."
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| | 60. - (1) Section 166 is amended as follows.
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(2) In subsection (4), for "scheme" there is substituted "arrangement".
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(3) In subsection (5)(d), for "scheme" there is substituted "arrangement".
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| | 61. In section 167(4)-
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(a) for "scheme", where first occuring, there is substituted "arrangement", and |
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(b) for the words from "("pension scheme"" to the end of the subsection there is substituted "("pension arrangement" having the meaning given in subsection (1) of section 27 of that Act, as it has effect for the purposes of subsection (5) of the said section 10)." |
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Family Law Act 1996 (c. 27) |
| | 62. The Family Law Act 1996 has effect subject to the following amendments.
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| | 63. - (1) Schedule 2 is amended as follows.
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(2) In paragraph 2, for "section 21" there is substituted "sections 21 and 21A".
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(3) In the section set out in that paragraph, for the sidenote there is substituted "Financial provision orders, property adjustment orders and pension sharing orders."
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(4) In that section, in paragraphs (c) and (d) of subsection (2), there is inserted at the end ", other than one in the form of a pension arrangement (within the meaning of section 25D below)".
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(5) In that section, after subsection (2) there is inserted-
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"(3) For the purposes of this Act, a pension sharing order is an order which-
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(a) provides that one party's- |
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(i) shareable rights under a specified pension arrangement, or
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(ii) shareable state scheme rights,
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be subject to pension sharing for the benefit of the other party, and |
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(b) specifies the percentage value to be transferred." |
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(6) In that section, subsections (3), (4) and (5) become (4), (5) and (6).
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(7) In that section, after subsection (6) (new numbering) there is inserted-
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"(7) In subsection (3)-
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(a) the reference to shareable rights under a pension arrangement is to rights in relation to which pension sharing is available under Chapter I of Part IV of the Welfare Reform and Pensions Act 1999, or under corresponding Northern Ireland legislation, and |
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(b) the reference to shareable state scheme rights is to rights in relation to which pension sharing is available under Chapter II of Part IV of the Welfare Reform and Pensions Act 1999, or under corresponding Northern Ireland legislation." |
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(8) In that section, subsection (6) becomes subsection (8).
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(9) After paragraph 6 there is inserted-
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"Pension sharing orders: divorce and nullity |
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6A. For section 24B substitute-
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| "Pension sharing orders: divorce. |
24B. - (1) On an application made under this section, the court may at the appropriate time make one or more pension sharing orders.
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(2) The "appropriate time" is any time-
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(a) after a statement of marital breakdown has been received by the court and before any application for a divorce order or for a separation order is made to the court by reference to that statement; |
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(b) when an application for a divorce order has been made under section 3 of the 1996 Act and has not been withdrawn; |
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(c) when an application for a divorce order has been made under section 4 of the 1996 Act and has not been withdrawn; |
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(d) after a divorce order has been made. |
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(3) The court shall exercise its powers under this section, so far as is practicable, by making on one occasion all such provision as can be made by way of one or more pension sharing orders in relation to the marriage as it thinks fit.
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(4) This section is to be read subject to any restrictions imposed by this Act and to section 19 of the 1996 Act.
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