Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1997

JurisdictionUK Non-devolved
CitationSI 1997/786

1997No. 786

PENSIONS

The Personal and Occupational Pension Schemes (Miscellaneous

Amendments) Regulations 1997

11thMarch1997

14thMarch1997

6thApril1997

ARRANGEMENT OF REGULATIONS

1. Citation and commencement.

2. Schemes providing salary-related death benefits.

3. Miscellaneous amendments.

4. Revocations and savings.

SCHEDULES

SCHEDULE 1 Miscellaneous amendments.

SCHEDULE 2 Subordinate legislation revoked.

The Secretary of State for Social Security, in exercise of the powers conferred on him by sections 8(3)(a), 9(2A)(a), (2B), (2C), (3) and (6)(a), 10(2)(c) and (3)(c), 11(3) and (5)(a) to (c), 12C(1) and (3), 20(1), (2) and (3), 21(1), 25(2), 28(2)(b), 34, 37(1), 39, 56(2), 73(1)(b), (2)(b) and (4)(b), 93(1A)(b), 95(2)(c) and (3), 97(1), 113(1) and (3), 146(4), 168(1) and (4), 181(1) and 182(2) and (3) of and paragraphs 1, 3, 4(2) and 5(3)(e) of Schedule 2 to the Pension Schemes Act 1993 ( a), sections 10(3), 17(1)(c) and (4)(b), 19(1)(c) and (4), 21(4), (5), (6), (7) and (8)(b), 37(10), 40(1) and (2)(e), 41(1) and (6), 47(5), 49(8)(b), 56(2)(b) and (3), 57(1)(a), 58(2) and (7), 60(2)(b) and (4), 61, 69(3)(c), 73(9), 75(10), 76(8), 77(6), 87(1), 118(1)(a) and (b), 119, 124(1), 125(2), (3) and (4) and 174(2) and (3) of the Pensions Act 1995 ( b) and of all other powers enabling him in that behalf, by this instrument, the Occupational Pensions Board having agreed that the proposals to make these regulations, to the extent that they are made under the Pension Schemes Act 1993, need not be referred to them ( c) and the Secretary of State having consulted with such persons as he considered appropriate ( d), hereby makes the following regulations:-

Citation and commencement

1. These Regulations may be cited as the Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1997 and shall come into force on 6th April 1997.

(a) 1993 c. 48. Section 9 was amended by section 136(3) and (4) of and paragraph 21 of Schedule 5 to the Pensions Act 1995 (c. 26). Section 10(2) was amended by paragraph 25 of that Schedule. Section 12C was inserted by section 136(5) of that Act. Section 25(2) was amended by paragraph 33 of that Schedule. Section 34 was amended by paragraphs 21 and 37 of that Schedule. Section 37 was substituted by paragraph 39 of that Schedule. Section 93(1A)(b) was inserted by section 152(3) of that Act. Section 146(4) was substituted by section 157(2) of that Act. Section 168 was substituted by section 155(1) of that Act. Section 181 is cited for the meaning given to "prescribe" and "regulations".

(b) 1995 c. 26. Section 124(1) is cited for the meaning given to "prescribed" and "regulations".

(c) See section 185(6) of the Pension Schemes Act 1993 and section 173(1)(b) of the Social Security Admnistration Act 1992 (c. 5).

(d) See section 185(1) of the Pension Schemes Act 1993 and section 120(1) of the Pensions Act 1995. Section 185(1) of the Pension Schemes Act 1993 was amended by paragraph 80 of Schedule 5 to the Pensions Act 1995.

Schemes providing salary-related death benefits

2. Part I of the Pensions Act 1995 applies to any occupational pension scheme under which all the benefits that may be provided other than death benefits are money purchase benefits as if every reference in that Part to a money purchase scheme included such a scheme.

Miscellaneous amendments

3. The regulations specified in Schedule 1 to these Regulations shall have effect with the amendments specified in that Schedule.

Revocations and savings

4.—(1) Subject to paragraph (2), the subordinate legislation specified in Schedule 2 is revoked to the extent specified in the third column.

(2) Without prejudice to the generality of section 16 of the Interpretation Act 1978 ( a), the revocation of the Personal Pension Schemes (Personal Pension Protected Rights Premiums) Regulations 1987 ( b) does not affect the operation of those regulations as respects any premium paid before 6th April 1997 or payable immediately before that date.

Signed by authority of the Secretary of State for Social Security.

Oliver Heald

Parliamentary Under-Secretary of State,

11th March 1997

Department of Social Security

(a) 1978 c. 30.

(b) S.I. 1987/1111.

SCHEDULE 1

Regulation 3

MISCELLANEOUS AMENDMENTS

The Personal Pension Schemes (Disclosure of Information) Regulations 1987

1.—(1) The Personal Pension Schemes (Disclosure of Information) Regulations 1987 ( a) shall have effect with the following amendments.

(2) In regulation 1(2) in the definition of "scheme year" for paragraph (b) substitute—

"(b) such other period (if any) exceeding 6 months but not exceeding 18 months as is selected by the trustees in connection with—(i) the commencement or termination of the scheme, or(ii) a variation of the date on which the year or period referred to in paragraph (a) is to commence;".

(3) In regulation 5(9)—

(a) for the words "the Occupational Pensions Board have" substitute the words "the Secretary of State has" ; and(b) in sub-paragraph (a) for the words "it was communicated to the trustees by the Occupational Pensions Board" substitute the words "the date on which the trustees receive notification of that determination".

(4) In paragraph 5 of Schedule 1 for the words "the Occupational Pensions Board" substitute the words "the Secretary of State".

(5) In paragraph 10 of Schedule 2 for the words" the Occupational Pensions Board" substitute the words "the Secretary of State".

The Personal Pension Schemes (Transfer Values) Regulations 1987

2.—(1) In regulation 2(b) of the Personal Pension Schemes (Transfer Values) Regulations 1987 ( b) for the words "regulations 2 and 3 of the Protected Rights (Transfer Payment) Regulations 1987" substitute the words "regulation 2 of the Protected Rights (Transfer Payment) Regulations 1996.".

(2) Paragraph (1) shall not apply where the cash equivalent is used on or after 6th April 1997 in pursuance of an application made under section 95 of the Pension Schemes Act 1993 before that date.

The Occupational Pensions Schemes (Preservation of Benefit) Regulations 1991

3.—(1) The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 ( c) shall have effect with the following amendments.

(2) In regulations 6(2)(b) and 9(4)(a) for the words "regulation 2 of the Occupational Pension Schemes (Discharge of Liability) Regulations 1985" substitute the words "regulation 3 of the Occupational Pension Schemes (Discharge of Liability) Regulations 1997".

(3) In regulation 12(3)—

(a) in sub-paragraph (a) after the word "favourable" insert the words "and, if that scheme were wound up immediately after the transfer, would not be likely to be materially less secure than they would be if the transferring scheme were wound up immediately before the transfer" ; and(b) after the sub-paragraph insert—"(aa) no beneficiary or contingent beneficiary under the transferring scheme will receive materially inferior benefits in the receiving scheme; and".

The Occupational Pension Schemes (Contracting-out) Regulations 1996

4.—(1) The Occupational Pension Schemes (Contracting-out) Regulations 1996 ( d) shall have effect with the following amendments.

(a) S.I. 1987/1110. A relevant amending instrument is S.I. 1992/1531.

(b) S.I. 1987/1112. a relevant amending instrument is S.I. 1994/1062.

(c) S.I. 1991/167. Relevant amending instruments are S.I. 1992/1531, 1993/1822, 1994/1062 and 1996/2131.

(d) S.I. 1996/1172. A relevant amending instrument is S.I. 1996/1577.

(2) In regulation 1(2) for the definition of "section 9(2B) rights" substitute—

""section 9(2B) rights" are—

(a) rights to the payment of pensions and accrued rights to pensions (other than rights attributable to voluntary contributions) under a scheme contracted-out by virtue of section 9(2B) of the 1993 Act, so far as attributable to an earner's service in contracted-out employment on or after the principal appointed day; and(b) where a transfer payment has been made to such a scheme, any rights arising under the scheme as a consequence of that payment which are derived directly or indirectly from—(i) such rights as are referred to in sub-paragraph (a) under another scheme contracted-out by virtue of section 9(2B) of that Act; or(ii) protected rights under another occupational pension scheme or under a personal pension scheme attributable to payments or contributions in respect of contracted-out employment on or after the principal appointed day;".

(3) In regulation 2 for paragraph (2) (grounds for discrimination in elections) substitute—

"(2) In making or abstaining from making an election as to the inclusion of an employment in a contracting-out certificate, an employer may discriminate between different earners (otherwise than on the ground of the nature of their employment) in any case where such discrimination would be lawful apart from section 11(3) of the 1993 Act.".

(4) In regulation 3 (notices by employers of intended elections), for paragraphs (4) and (5) substitute—

"(4) Unless paragraph (5) applies, a notice under this regulation must specify a date of expiry which is not earlier than the date three months after the date on which the notice is given.

(5) Where—

(a) there is no independent trade union recognised in relation to the earners concerned, or(b) before the notice has been given every such trade union has consented in writing to the notice specifying an earlier date than that which is required under paragraph (4),

the notice may specify an earlier date (but not earlier than the date one month after that on which the notice is given).".

(5) In regulation 6 in paragraph (2)(f), omit paragraph (i).

(6) At the end of regulation 7 (amendment of an election with a view to the issue of a contracting-out certificate) add the words "or the date from which it is intended that the certificate is to have effect".

(7) At the end of regulation 9(8) (amendment of an election for the variation or surrender of a contracting-out certificate) add the...

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