Article 11 Transfers to and from other schemes

(1)

For articles 19 to 24 of the Principal Order substitute the articles set out in Schedule 1.

(2)

In article 1(2) of the Principal Order (interpretation)—

(a)

in the definition of “actual reckonable service” for paragraph (ii) substitute “any period increased pursuant to article 24C or added by a direction of the Managers made before 6th April 2006 in respect of a transfer from another pension scheme; and”,

(b)

in the definition of “aggregate period of reckonable service” for “24(2)(b)” substitute “24C (or a direction made by the Managers before 6th April 2006 in respect of a transfer from another pension scheme)”,

(c)

after the definition of “fraction of a year” insert—

““guarantee date” has the meaning assigned to it by article 20(2);

“guaranteed cash equivalent transfer payment” has the meaning assigned to it by article 21(2);”, and

(d)

after the definition of “normal retirement date” insert ““occupational pension scheme” has the meaning given in section 1 of the Pension Schemes Act 1993;“.

(3)

In article 6(1)^f1 of the Principal Order for “22” substitute “24”.

(4)

In articles 6(2)(a)(ii) and 7(13)(b) for the words from “under” to “that date”, substitute “made before that date in respect of a transfer from another pension scheme”.

(5)

In article 7(13)(ii) for the words from “under” to “that date”, substitute “in respect of a transfer from another pension scheme or increased by the appropriate period under article 24C”.

(6)

In paragraph 3(4) of Schedule 2 to the Principal Order for “19, 20 or 21” substitute “19 to 24”.

(7)

In paragraph 2(2)(ii) of Schedule 3 to the Principal Order (commutation of pensions), for “under article 24” substitute “by virtue of articles 24C(3) and 24D”.

Annotations

Footnotes

f1: Article 6 was substituted by article 3 of S.I. 1996/1493, with retrospective effect.