Regulation 11 Amendment of the Stakeholder Pension Schemes Regulations 2000

(1)

Amend the Stakeholder Pension Schemes Regulations 2000^f1 as follows.

(2)

In regulation 14^f2 (charges and other permitted reductions in members’ rights)—

(a)

in paragraph (1) for “paragraphs (2) to (5)” substitute “paragraphs (2) to (5A)”; and

(b)

after paragraph (5) insert—

“(5A)
The value of a member’s rights under the scheme may be reduced by the amount of any payment made to discharge the liability of the trustees or managers in respect of any tax liability under the Finance Act 2004 in relation to that member.”.

Annotations

Footnotes

f1: S.I. 2000/1403; the relevant amending instrument is S.I. 2005/577.
f2: Regulation 14 was substituted for the original regulation 14 by S.I. 2005/577.