Statutory Instruments
2011 No. 1724
Pensions
The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) (No. 2) Regulations 2011
Made
12th July 2011
Coming into force
6th April 2012
The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by section 15(5) and (6) of the Pensions Act 2007( 1 ).
The Secretary of State has consulted such persons as the Secretary of State considers appropriate in accordance with section 25(3) of that Act.
A draft of these Regulations has been laid before Parliament in accordance with section 15(7) of that Act and has been approved by a resolution of each House of Parliament.
Citation and commencement
1. —(1) These Regulations may be cited as the Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) (No. 2) Regulations 2011.
(2) These Regulations come into force on 6th April 2012.
Amendments to the Social Security Administration Act 1992
2. —(1)The Social Security Administration Act 1992( 2 ) is amended as follows.
(2) In section 150 (annual up-rating of benefits) in subsection (10A)( 3 ), after “a member of”, insert “a scheme which was at a time before the abolition date, as defined by section 181(1) of the Pensions Act,”.
(3) In section 191 (interpretation – general)—
(a) for the definition of “money purchase contracted-out scheme”( 4 ) substitute—
“ “money purchase contracted-out scheme” is to be construed in accordance with section 181A of the Pensions Act; ” , and
(b) in the definition of “personal pension scheme”( 5 ), for “section 7(4)” substitute “section 181A(6)”.
Amendments to the Pensions Act 2008
3. In the Pensions Act 2008( 6 ), omit sections 20(2) (quality requirement: UK money purchase schemes) and 26(8) (quality requirement: UK personal pension schemes).
Signed by authority of the Secretary of State for Work and Pensions.
Steve Webb
Minister of State
Department for Work and Pensions
12th July 2011
1992 c.5 .
Section 150(10A) was inserted by section 190 of, and paragraph 28(b) of Schedule 8 to, the Pension Schemes Act 1993 (c.48) .
The definition of “money purchase contracted-out scheme” was inserted by section 190 of, and paragraph 31(a) of Schedule 8 to, the Pension Schemes Act 1993.
The definition of “personal pension scheme” was amended by section 190 of, and paragraph 31(d) of Schedule 8 to, the Pension Schemes Act 1993.