Pensions Act 2014 (Version in vigour from 2022-04-11 to )

Consolidated Text

As Enacted

Cited authorities 200

Cited in

Currency	No known outstanding effects
Coming into Force	11 April 2022

Contenidos

Pensions Act 2014
Part 1: State pension

Introduction

1: State pension

State pension at the full or reduced rate

2: Entitlement to state pension at full or reduced rate
3: Full and reduced rates of state pension

State pension at the transitional rate

4: Entitlement to state pension at transitional rate
5: Transitional rate of state pension
6: Recalculation and backdating of transitional rate in special cases

Transitional entitlement based on contributions of others

7: Survivor's pension based on inheritance of additional old state pension
8: Choice of lump sum or survivor's pension under section 9 in certain cases
9: Survivor's pension based on inheritance of deferred old state pension
10: Inheritance of graduated retirement benefit

Transition: women who have had a reduced rate election

11: Reduced rate elections: effect on section 4 pensions
12: Reduced rate elections: pension for women with no section 4 pension

Transition: pension sharing on divorce etc

13: Shared state pension on divorce etc
14: Pension sharing: reduction in the sharer's section 4 pension
15: Pension sharing: amendments

Postponing or suspending state pension

16: Pensioner's option to suspend state pension
17: Effect of pensioner postponing or suspending state pension
18: Section 17 supplementary: calculating weeks, overseas residents, etc

Prisoners and overseas residents

19: Prisoners
20: Overseas residents

Definitions

21: “Old state pension”
22: General definitions etc

Consequential and other amendments

23: Amendments
24: Abolition of contracting-out for salary related schemes etc

Part 2: Option to boost old retirement pensions

25: Option to boost old retirement pensions

Part 3: Pensionable age

26: Increase in pensionable age to 67

27: Periodic review of rules about pensionable age

Part 4: State pension credit

28: State pension credit: phasing out assessed income periods

29: Preserving indefinite status of certain existing assessed income periods

Part 5: Bereavement support payment

30: Bereavement support payment

31: Bereavement support payment: contribution condition and amendments

32: Bereavement support payment: prisoners

Part 6: Private pensions

Transfer of pension benefits

33: Automatic transfer of pension benefits etc: Schedule 17—
34: Power to prohibit offer of incentives to transfer pension rights
35: Expiry of power in section 34
36: Short service benefit for scheme member with money purchase benefits

Automatic enrolment

37: Automatic re-enrolment: exceptions where automatic enrolment deferred
38: Automatic enrolment: powers to create general exceptions
39: Alternative quality requirements for UK defined benefits schemes
40: Automatic enrolment: transitional period for hybrid schemes
41: Penalty notices under sections 40 and 41 of the Pensions Act 2008 etc
42: Unpaid scheme contributions

Other

43: Power to restrict charges or impose requirements in relation to schemes: Schedule 18 permits the Secretary of State to make regulations—
44: Disclosure of information about transaction costs to members etc
45: Power to require pension levies to be paid in respect of past periods
46: Prohibition and suspension orders: directors of corporate trustees
47: Preparation of guidance for pensions illustrations
48: Pensions Regulator's objectives
49: Maximum period between scheme returns to be 5 years for micro schemes
50: Pension Protection Fund: increased compensation cap for long service
51: Pension Protection Fund: compensation cap to apply separately to certain benefits
52: Public service pension schemes: transitional arrangements

Part 7: Final provisions

53: Power to make consequential amendments etc

54: Regulations and orders

55: Extent

56: Commencement

57: Short title

SCHEDULES

SCHEDULE 1 Section 5
Transitional rate of state pension: calculating the amount

Part 1: Introduction
Part 2: Amount for pre-commencement qualifying years
Part 3: Amount for post-commencement qualifying years

SCHEDULE 2 Section 5
Transitional rate of state pension: up-rating

SCHEDULE 3 Section 7
Survivor's pension under section 7: inherited amount

Introduction
Dead spouse or civil partner in old state pension system etc
Dead spouse or civil partner in new state pension system
Supplementary

SCHEDULE 4 Section 7
Survivor's pension under section 7: up-rating

Introduction
Rate of section 7 pension, when added to any priority pension, is less than the full rate
Rate of section 7 pension, when added to any priority pension, straddles the full rate
Priority pension alone is equal to or higher than the full rate

SCHEDULE 5 Section 9
Survivor's pension under section 9: inherited deferral amount

Introduction
Dead spouse or civil partner entitled to old state pension with deferral increase
Dead spouse or civil partner's entitlement to old state pension deferred at time of death
“The relevant provisions” of the Contributions and Benefits Act
Supplementary

SCHEDULE 6 Section 11
Reduced rate elections: effect on rate of section 4 pension

Introduction
Increased transitional rate for woman married to person over pensionable age etc
Increased transitional rate for widows or divorcees etc
Recalculation of transitional rate where circumstances change

SCHEDULE 7 Section 12
Reduced rate elections: basic amount of state pension under section 12

SCHEDULE 8 Section 13
Pension sharing: appropriate weekly rate under section 13

Introduction
Appropriate weekly rate for pensioner with old state scheme pension credit
Appropriate weekly rate for pensioner with new state scheme pension credit
Supplementary

SCHEDULE 9 Section 13
Pension sharing: up-rating state pension under section 13

Introduction
Rate of section 13 pension, when added to any priority pension, is less than the full rate
Rate of section 13 pension, when added to any priority pension, straddles the full rate
Priority pension alone is equal to or higher than the full rate

SCHEDULE 10 Section 14
Pension sharing: appropriate weekly reduction under section 14

Introduction
Appropriate weekly reduction for person subject to old state scheme pension debit
Appropriate...

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