# The Pensions Act 2011(Transitional, Consequential and Supplementary Provisions) Regulations 2014, Regulation 27: Indexation of cash balance benefits etc: pensions in payment before the appointed day


(1) Section 51 of the 1995 Act (annual increase in rate of pension) does not apply to a pension or part of a pension payable under an occupational pension scheme which meets the conditions specified in paragraph (2).
(2) The conditions specified in this paragraph are that—
(a) the pension or part of a pension—
(i) is derived from any of the benefits specified in paragraph (3) which were attributable to a member’s pensionable service on or after 6th April 1997; and
(ii) first came into payment on or after 6th April 2005 but before the appointed day;
(b) the trustees or managers of the scheme before the appointed day treated those benefits as if they were money purchase benefits; and
(c) the pension or part of a pension is not, under the scheme, required to be increased each year or is to be increased at a rate below that required by section 51 of the 1995 Act.
(3) The benefits specified in this paragraph are—
(a) cash balance benefits;
(b) a defined benefit minimum (in relation to money purchase underpin benefits or cash balance underpin benefits); and
(c) top-up benefits.

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Source: https://www.legislation.gov.uk/ukdsi/2014/9780111114568/regulation/27 (the official version)
Page: https://openlegislation.uk/draft-pensions-act-2011transitional-consequential-and-supplementary-provisions-regulations-2014/regulation-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.