Paragraph 6 Exclusion of certain benefits

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 2 para. 7(1)(b) words inserted by Pension Schemes Act 2026 s. 111(2)
Sch. 2 para. 9(2) words inserted by Pension Schemes Act 2026 s. 111(4)(a)
Sch. 2 para. 9(2) word omitted by Pension Schemes Act 2026 s. 111(4)(b)(i)
Sch. 2 para. 9(2) words inserted by Pension Schemes Act 2026 s. 111(4)(b)(ii)
Sch. 2 para. 9(2) words inserted by Pension Schemes Act 2026 s. 111(4)(c)
Sch. 2 para. 9(2A)-(2D) inserted by Pension Schemes Act 2026 s. 111(5)
Sch. 2 para. 9(3) words inserted by Pension Schemes Act 2026 s. 111(6)(a)
Sch. 2 para. 9(3) words substituted by Pension Schemes Act 2026 s. 111(6)(b)

(1)

No account shall be taken of the benefits specified in sub-paragraph (2) when determining, for the purposes of this Schedule—

(a)

the assets available to be used to discharge a liability of a qualifying pension scheme;

(b)

the liabilities of such a scheme; and

(c)

the annual rate of pension from such a scheme.

(2)

The specified benefits are—

(a)

money purchase benefit; F1and

(b)

benefits derived from the payment of voluntary contributions where, on the winding up of the scheme, the assets of the scheme have first been applied to satisfy liabilities in respect of those benefits; F2...

F3(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Word in Sch. 2 para. 6(2)(a) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(a)
F2: Word in Sch. 2 para. 6(2)(b) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(b)
F3: Sch. 2 para. 6(2)(c) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(c)
F4: Sch. 2 para. 6(3) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(c)