Regulation 45 Quality requirements: non-UK occupational pension schemes

A money purchase scheme within section F118(c) (occupational pension schemes) of the Act satisfies the quality requirement for the purposes of section 25 (quality requirement: non-UK occupational pension schemes) of the Act in relation to a jobholder—

For the purposes of paragraph (1), section 20(1) of the Act is to be read as if for the words “that has its main administration in the United Kingdom” there were substituted “ ;within section 18(c)”.

A defined benefits scheme within section 18(c) of the Act satisfies the quality requirement for the purposes of section 25 of the Act in relation to the jobholder—

For the purposes of paragraph (3), F5sections 21 and 23A of the Act are to be read as if for the words “that has its main administration in the United Kingdom” there were substituted “;within section 18(c)”.

Section 24 (quality requirement: UK hybrid schemes) of the Act applies to any hybrid scheme within section 18(c) of the Act as it applies to a hybrid scheme that has its main administration in the United Kingdom.

For the purposes of paragraph (5)—

are to be read subject to the modifications made by paragraphs (2) and (4).

Accordingly, a hybrid scheme within section F718(c) of the Act satisfies the quality requirement for the purposes of section 25 of the Act in relation to the jobholder if the scheme falls within a description of hybrid schemes specified in any rule made under section 24(2) to (4) of the Act and either—