Regulation 2 Amendment of regulation 36 of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010

(1)

Regulation 36 of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010^f1 (certain schemes providing average salary benefits excluded from being qualifying schemes) is amended as follows.

(2)

For paragraph (2)(c) substitute—

“(c)
a discretionary power may be exercised in the revaluation of such benefits,”.

(3)

In paragraph (4)—

(a)

in sub-paragraph (a) omit “in relation to a scheme which has members on 1st July 2012,”;

(b)

in sub-paragraph (b) omit “in relation to any scheme,”; and

(c)

in sub-paragraph (c) omit “in relation to any scheme,”.

(4)

In paragraph (5)(a)—

(i)

for “level” in each place where it occurs, substitute “index”; and

(ii)

in paragraph (ii) for “for any month” substitute “for a month”.

Annotations

Footnotes

f1: S.I. 2010/772. Regulation 36 was amended by S.I. 2012/1257, regulation 6.