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Pension Schemes Act 1993

1993 c. 48 · Enacted 5 November 1993 · Extends to United Kingdom

Not fully up to date. 105 changes made by later legislation have not yet been written into this text, which is revised to 1 October 2026.

See the changes not yet applied
ProvisionChangeMade by
s. 127(2)(b)words substitutedJudicial Factors (Scotland) Act 2025 sch. 2 para. 4(3)
s. 123(2)(b)words substitutedJudicial Factors (Scotland) Act 2025 sch. 2 para. 4(2)
s. 181(3)words repealedPensions Act 2004 Sch. 13
s. 34(1)(a)(ii)words repealedPensions Act 2004 Sch. 13
s. 131(b)words repealedPensions Act 2004 Sch. 13
s. 145(1A)-(1C)insertedPensions Act 2004 Sch. 12 para. 23
s. 146(6A)insertedPensions Act 2004 Sch. 12 para. 24(b)
s. 181(4)word repealedPensions Act 2004 Sch. 13
s. 177(2)(za)words repealedPensions Act 2007 Sch. 4 para. 57(2)(a) Sch. 7 Pt. 7
s. 164(2)(b)words repealedPensions Act 2007 Sch. 4 para. 56 Sch. 7 Pt. 7
s. 50(4)words substitutedPensions Act 2007 Sch. 4 para. 55
s. 177(7)(a)words repealedPensions Act 2007 Sch. 4 para. 57(3) Sch. 7 Pt. 7
s. 177(2)(a)repealedPensions Act 2007 Sch. 4 para. 57(2)(b) Sch. 7 Pt. 7
s. 45repealedPensions Act 2007 Sch. 4 para. 53 Sch. 7 Pt. 7
s. 43repealedPensions Act 2007 Sch. 4 para. 52 Sch. 7 Pt. 7
s. 42ArepealedPensions Act 2007 Sch. 4 para. 51 Sch. 7 Pt. 7
s. 40(b)repealedPensions Act 2007 Sch. 4 para. 50 Sch. 7 Pt. 7
s. 20(3)words repealedPensions Act 2007 Sch. 4 para. 48 Sch. 7 Pt. 7
s. 181(4)words repealedPensions Act 2007 Sch. 4 para. 58(3) Sch. 7 Pt. 7
s. 181(1)words repealedPensions Act 2007 Sch. 4 para. 58(2) Sch. 7 Pt. 7
s. 46(3)repealedWelfare Reform Act 2007 Sch. 8
Sch. 8 para. 39repealedWelfare Reform Act 2007 Sch. 8
s. 175AinsertedPensions Act 2008 Sch. 10 para. 1
s. 46A headingwords substitutedPensions Act 2011 Sch. 3 para. 11(b)
s. 46(1A)words substitutedPensions Act 2011 Sch. 3 para. 10
s. 46A(1)(c)words substitutedPensions Act 2011 Sch. 3 para. 11(a)
s. 94(2A)(a)(viii)insertedPensions Act 2014 Sch. 17 para. 20(2)(a)
s. 101AI(8)(b)(vi)insertedPensions Act 2014 Sch. 17 para. 20(3)(b)
s. 94(2A)(b)(vi)insertedPensions Act 2014 Sch. 17 para. 20(2)(b)
s. 101AI(8)(a)(viii)insertedPensions Act 2014 Sch. 17 para. 20(3)(a)
Sch. 3 para. 4omittedPension Schemes Act 2015 Sch. 1 para. 9
s. 70(1)words insertedPension Schemes Act 2015 s. 39(3)(a)
s. 70(1)words omittedPension Schemes Act 2015 s. 39(3)(b)
s. 71(1)(aa)substitutedPension Schemes Act 2015 s. 39(2)(a)
s. 71(1A)insertedPension Schemes Act 2015 s. 39(2)(b)
s. 71(7)-(10)substituted for s. 71(7)-(11)Pension Schemes Act 2015 s. 39(4)
s. 74(3)words insertedPension Schemes Act 2015 s. 39(5)
s. 74(4)words insertedPension Schemes Act 2015 s. 39(5)
s. 82AinsertedPension Schemes Act 2015 Sch. 1 para. 2
s. 83(1A)-(1AC)substituted for s. 83(1A)Pension Schemes Act 2015 Sch. 1 para. 3
s. 83(4)(a)substitutedPension Schemes Act 2015 Sch. 2 para. 2
s. 84-84Fsubstituted for s. 84Pension Schemes Act 2015 Sch. 1 para. 4
s. 85AinsertedPension Schemes Act 2015 Sch. 1 para. 5
s. 86A 86BinsertedPension Schemes Act 2015 Sch. 1 para. 6
s. 113(1)words substitutedPension Schemes Act 2015 s. 38(2)(a)
s. 113(1)(ca)words omittedPension Schemes Act 2015 s. 38(2)(b)
s. 113(2)omittedPension Schemes Act 2015 s. 38(3)
s. 113(4)(4A)substituted for s. 113(4)Pension Schemes Act 2015 s. 38(5)
s. 113(10)words substitutedPension Schemes Act 2015 Sch. 2 para. 3
s. 124(3A)substitutedPension Schemes Act 2015 Sch. 2 para. 4
s. 181(1)words insertedPension Schemes Act 2015 Sch. 2 para. 5(2)
s. 181(1)words omittedPension Schemes Act 2015 Sch. 2 para. 5(3)
s. 186(3)(ba)insertedPension Schemes Act 2015 Sch. 1 para. 7
Sch. 3 para. 3AomittedPension Schemes Act 2015 Sch. 1 para. 9
s. 113(5)words substitutedPension Schemes Act 2015 s. 38(6)
Sch. 3 para. 5(1)words substitutedPension Schemes Act 2015 Sch. 1 para. 10
Sch. 3 para. A1 and cross-headinginsertedPension Schemes Act 2015 Sch. 1 para. 8
s. 185(2)(ca)insertedFinancial Guidance and Claims Act 2018 s. 19(5)
s. 1(1)modifiedPension Schemes Act 2026 s. 97(2)
s. 48(2)(c)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 15
s. 55(2A)(c)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 16
s. 60words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 17
s. 87(2)(c)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 18(a)
s. 87(3)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 18(b)
s. 87(3)(a)(4)(d)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 18(c)
s. 88(1)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 19
s. 89(1)(a)(b)(2)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 20
s. 90(2)(a)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 21
s. 109(2)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 22
s. 109(2)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 23
s. 109(2)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 24(1)
s. 109(2)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 24(2)
s. 47(1)words insertedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 14(a)
s. 38(2)words insertedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 13(b)
s. 38(2)word insertedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 13(a)
s. 37(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 12
s. 29(1)(b)(3)(b)(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 11
s. 28A(1)(3)(5)(b)(ii)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 10
s. 28(8)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 9(c)(ii)
s. 28(8)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 9(c)(i)
s. 28(4B)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 9(b)
s. 28(3)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 9(a)
s. 23(3)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 8
s. 21(2)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 7
s. 20(6)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 6
s. 19(5)(a)(i)(ii)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 5
s. 17(8)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(h)
s. 17(7)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(g)
s. 17(6)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(f)
s. 17(4B)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(e)
s. 17(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(d)(iv)
s. 17(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(d)(iii)
s. 47(3)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 14(b)(i)
s. 17(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(d)(i)
s. 17(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(c)
s. 17(2)(c)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(b)
s. 17(1)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(a)
s. 12B(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 3
s. 12A(1)(2)(b)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 2
s. 8(2)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 1
s. 17(4)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 4(d)(ii)
s. 47(3)words substitutedThe Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 art. 2(1) Sch. 1 para. 14(b)(ii)
s. 84(1)modifiedThe Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010 reg. 37(3)
Pt. 4 Ch. 3modifiedThe Firefighters’ Pension Scheme (England) (Consequential Provisions) Regulations 2015 reg. 10
Pt. 4 Ch. 3modifiedThe Public Service (Civil Servants and Others) Pensions (Consequential and Amendment) Regulations 2015 reg. 10
An Act to consolidate certain enactments relating to pension schemes with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.[5th November 1993]

X1I1E1Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C1C2C3C4C5C6C7C8C9C10C11C12C13C14

Contents

  1. Part I: Preliminary
  2. 1Categories of pension schemes.
  3. Part II: Administration
  4. The Occupational Pensions Board
  5. 2Constitution and functions of the Board. Repealed
  6. 3Membership of the Board. Repealed
  7. 4Reports of the Board. Repealed
  8. 5Further provisions as to constitution and procedure of the Board. Repealed
  9. Registration of schemes
  10. 6Registration of occupational and personal pension schemes. Repealed
  11. Part III: Schemes that were contracted-out etc and Effects on Members’ State Scheme Rights ...
  12. Chapter I: Schemes that were contracted-out: guaranteed minimum pensions and alteration of scheme rules etc
  13. Preliminary
  14. 7Issue of contracting-out certificates. Repealed
  15. 7AMeaning of “the first abolition date” and “the second abolition date”
  16. 7BMeaning of “contracted-out scheme” and “appropriate scheme” etc.
  17. 8Meaning of “contracted-out employment”, “guaranteed minimum pension” and “minimum payment”.
  18. ...
  19. 9Requirements for certification of schemes: general. Repealed
  20. 10Protected rights and money purchase benefits. Repealed
  21. 11Elections as to employments covered by contracting-out certificates. Repealed
  22. 12Determination of basis on which scheme is contracted-out. Repealed
  23. ...
  24. 12AThe statutory standard Repealed
  25. 12BReference scheme Repealed
  26. 12CTransfer, commutation, etc Repealed
  27. 12DEntitlement to benefit Repealed
  28. Guaranteed minimum pensions
  29. 12EFormer salary related contracted-out schemes to comply with GMP requirements
  30. 13Minimum pensions for earners.
  31. 14Earner’s guaranteed minimum.
  32. 15Increase of guaranteed minimum where commencement of guaranteed minimum pension postponed.
  33. 15AReduction of guaranteed minimum in consequence of pension debit.
  34. 16Revaluation of earnings factors for purposes of s. 14: early leavers etc.
  35. 17Minimum pensions for widows and widowers.
  36. 18Treatment of insignificant amounts.
  37. 19Discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts.
  38. 20Transfer of accrued rights.
  39. 21Commutation, surrender and forfeiture.
  40. 22Financing of benefits. Repealed
  41. 23Securing of benefits.
  42. 24Sufficiency of resources. Repealed
  43. 24AConversion of guaranteed minimum pension into other benefits: introduction
  44. 24BThe conversion conditions
  45. 24CActuarial equivalence
  46. 24DSurvivors' benefits
  47. 24EProcedural requirements
  48. 24FTransfer out
  49. 24GPowers to amend schemes
  50. 24HEnforcement of GMP conversion conditions
  51. Discretionary requirements
  52. 25Power for Board to impose conditions as to investments and resources.
  53. Requirements for certification of occupational and personal money purchase schemes
  54. 25ARequirements for schemes with members with protected rights Repealed
  55. 26Persons who may establish scheme. Repealed
  56. 27Identification and valuation of protected rights. Repealed
  57. 27ARequirements in relation to giving effect to protected rights Repealed
  58. 28Ways of giving effect to protected rights. Repealed
  59. 28ARequirements for interim arrangements Repealed
  60. 28BInformation about interim arrangements Repealed
  61. 29The pension and annuity requirements. Repealed
  62. 30Securing of liability for protected rights. Repealed
  63. 31Investment and resources of schemes. Repealed
  64. 32Suspension or forfeiture. Repealed
  65. 32ADischarge of protected rights on winding up: insurance policies Repealed
  66. 33Tax requirements to prevail over requirements of section 31. Repealed
  67. 33AAppropriate schemes: “Blowing the whistle” Repealed
  68. Cancellation, variation, surrender and refusal of certificates
  69. 34Cancellation, variation, surrender and refusal of certificates. Repealed
  70. 35Surrender and cancellation of contracting-out certificates: issue of further certificates. Repealed
  71. 36Surrender and cancellation of contracting-out certificates: cancellation of further certificates. Repealed
  72. Alteration of rules by former salary related contracted-out schemes
  73. 37Alteration of rules of contracted-out schemes.
  74. 37ATransfer of liabilities etc: schemes contracted-out on or after 6 April 1997
  75. 38Alteration of rules of appropriate schemes. Repealed
  76. General regulations as to administration of Part III
  77. 38ARegulations about relevant gender change cases
  78. 39General power to make regulations.
  79. Chapter II: Reduction in social security benefits for members of schemes that were contracted-out
  80. Preliminary
  81. 40Scope of Chapter II.
  82. ...
  83. 41Reduced rates of Class 1 contributions Repealed
  84. 42Review and alteration of rates of contributions applicable under s. 41. Repealed
  85. Reduced rates of contributions, and rebates, for members of money purchase contracted-out schemes
  86. 42AReduced rates of Class 1 contributions, and rebates
  87. 42BDetermination and alteration of rates of contributions, and rebates, applicable under section 42A Repealed
  88. Minimum contributions: members of appropriate personal pension schemes
  89. 43Payment of minimum contributions to personal pension schemes.
  90. 44Earner’s chosen scheme. Repealed
  91. 45Amount of minimum contributions.
  92. 45ADetermination and alteration of rates of minimum contributions under section 45 Repealed
  93. 45BMoney purchase and personal pension schemes: verification of ages Repealed
  94. Effect of entitlement to guaranteed minimum pensions on payment of social security benefits
  95. 46Effect of entitlement to guaranteed minimum pensions on payment of social security benefits.
  96. 46ARetirement in tax year after 5th April 2020 Repealed
  97. 47Further provisions concerning entitlement to guaranteed minimum pensions for the purposes of s. 46.
  98. 48Reduced benefits where minimum payments or minimum contributions paid.
  99. Effect of reduced contributions and rebates on social security benefits
  100. 48AAdditional pension and other benefits
  101. Women, married women and widows
  102. 49Women, married women and widows. Repealed
  103. Chapter III: Termination of contracted-out or appropriate scheme status: state scheme premiums
  104. Approval of arrangements for schemes ceasing to be certified
  105. 50Powers of Inland Revenue to approve arrangements for scheme ceasing to be certified. Repealed
  106. 51Calculation of guaranteed minimum pensions preserved under approved arrangements.
  107. Supervision of formerly certified schemes
  108. 52Supervision of former salary related contracted-out schemes
  109. 53Supervision: former contracted-out schemes.
  110. 54Supervision: former appropriate personal pension schemes. Repealed
  111. State scheme premiums
  112. 55Payment of state scheme premiums on termination of certified status. Repealed
  113. 56Provisions supplementary to s. 55. Repealed
  114. 57Elections to pay contributions equivalent premiums. Repealed
  115. 58Amount of premiums payable under s. 55. Repealed
  116. 59Alternative basis for revaluation of earnings factors for calculation of certain premiums. Repealed
  117. 60Effect of payment of premiums on rights. Repealed
  118. 61Deduction of contributions equivalent premium from refund of scheme contributions. Repealed
  119. 62No recovery of state scheme premiums from earners etc. Repealed
  120. 63Further provisions concerning calculations relating to premiums. Repealed
  121. 64Actuarial tables for purposes of calculations relating to premiums. Repealed
  122. 65Inclusion of former and future earners for some purposes of this Chapter. Repealed
  123. 66Power to apply certain provisions to widowers. Repealed
  124. 67Non-payment of contributions equivalent premiums. Repealed
  125. 68Unpaid premiums: supplementary. Repealed
  126. Part IIIA: Safeguarded rights Repealed
  127. 68ASafeguarded rights. Repealed
  128. 68BRequirements relating to safeguarded rights. Repealed
  129. 68CReserve powers in relation to non-complying schemes. Repealed
  130. 68DPower to control transfer or discharge of liability. Repealed
  131. Part IV: Protection for early leavers
  132. Chapter I: preservation of benefit under occupational schemes
  133. 69Scope of Chapter I: the preservation requirements.
  134. 70Interpretation.
  135. 71Basic principle as to short service benefit.
  136. 72No discrimination between short service and long service beneficiaries.
  137. 73Form of short service benefit and its alternatives.
  138. 74Computation of short service benefit.
  139. 75Credits.
  140. 76Pension increases.
  141. 77Assignment, surrender and commutation of benefit. Repealed
  142. 78Forfeiture, etc. Repealed
  143. 79Charges, liens and set-offs. Repealed
  144. 80Power to modify ss. 77 to 79 as respects alternative benefits. Repealed
  145. 81Discharge of liability where short service or alternative benefits secured by insurance policies or annuity contracts.
  146. 82Supplementary regulations.
  147. Chapter II: Revaluation of accrued benefits (excluding guaranteed minimum pensions)
  148. 83Scope of Chapter II.
  149. 84Basis of revaluation.
  150. 85Revaluation not to apply to substituted benefit.
  151. 86Supplementary provisions.
  152. Chapter III: Protection of increases in guaranteed minimum pensions (“anti-franking”)
  153. 87General protection principle.
  154. 88The relevant sum.
  155. 89The appropriate addition.
  156. 90The later earnings addition.
  157. 91Special provision where employment continues after it ceases to be contracted-out by reference to scheme.
  158. 92Supplementary provisions.
  159. IVTransfer values
  160. 5Early leavers: cash transfer sums and contribution refunds
  161. Part 4ZA: Transfers and contribution refunds
  162. Chapter 1: Transfer rights: general
  163. 93Scope of Chapter 1.
  164. 93ARight to statement of entitlement: benefits other than money purchase
  165. 94Right to cash equivalent.
  166. 95Ways of taking right to cash equivalent.
  167. 96Further provisions concerning exercise of option under s. 95.
  168. 97Calculation of cash equivalents.
  169. 97ADesignation of funded public service defined benefits schemes
  170. 97BDesignation of funded public service defined benefits schemes: Scotland
  171. 97CReduction of cash equivalents in case of designated schemes
  172. 98Loss of right to cash equivalent
  173. 99Trustees’ duties after exercise of option.
  174. 99ATrustees' further duties: collective money purchase benefits
  175. 100Withdrawal of applications.
  176. 100AProhibition on excluding future accruals etc
  177. 100BMeaning of “scheme rules”: occupational pension schemes
  178. 100CMeaning of “normal pension age” in this Chapter
  179. 100DInterpretation of Chapter
  180. 101Supplementary provisions.
  181. Chapter 2: Early leavers: cash transfer sums and contribution refunds
  182. 101AAScope of Chapter 5
  183. 101ABRight to cash transfer sum and contribution refund
  184. 101ACNotification of right to cash transfer sum or contribution refund
  185. 101ADExercise of right under section 101AB
  186. 101AEPermitted ways of using cash transfer sum
  187. 101AFCalculation of cash transfer sum and contribution refund
  188. 101AGDuties of trustees or managers following exercise of right
  189. 101AHPowers of trustees or managers where right not exercised
  190. 101AIRights under section 101AB: further provisions
  191. Part IVA: Requirements relating to pension credit benefit
  192. Chapter I: Pension credit benefit under occupational schemes
  193. 101AScope of Chapter I.
  194. 101BInterpretation.
  195. 101CBasic principle as to pension credit benefit.
  196. 101DForm of pension credit benefit and its alternatives.
  197. 101EDischarge of liability where pension credit or alternative benefits secured by insurance policies or annuity contracts.
  198. Chapter II: Transfer values
  199. 101FPower to give transfer notice.
  200. 101GRestrictions on power to give transfer notice.
  201. 101HBenefits other than money purchase: statements of entitlement.
  202. 101ICalculation of cash equivalents.
  203. 101JTime for compliance with transfer notice.
  204. 101KWithdrawal of transfer notice.
  205. 101LVariation of the amount required to be used.
  206. 101MEffect of transfer on trustees’ duties.
  207. 101NMatters to be disregarded in calculations.
  208. 101NAProhibition on excluding transfers of some rights without others etc
  209. 101OService of notices.
  210. 101PInterpretation of Chapter II.
  211. 101QPower to modify Chapter II in relation to hybrid schemes. Repealed
  212. Part V: Annual Increases of Pensions in Payment
  213. Chapter I: Pensions under Final Salary Schemes etc.
  214. 102Scope of Chapter I: annual increase of certain occupational pensions. Repealed
  215. 103Annual increase of later service component. Repealed
  216. 104Annual increase of earlier service component where scheme is in surplus. Repealed
  217. 105Proportional increase where first period is less than 12 months. Repealed
  218. 106Restriction on increase where member is under 55. Repealed
  219. 107Application of Chapter I to pensions not attributable to pensionable service. Repealed
  220. 108No payments to employers from non-complying schemes. Repealed
  221. Chapter II: Guaranteed minimum pensions
  222. 109Annual increase of guaranteed minimum pensions.
  223. 110Requirement as to resources for annual increase of guaranteed minimum pensions.
  224. Part VI: Further Requirements for Protection of Scheme Members
  225. 111Voluntary contributions. Repealed
  226. 111AMonitoring of employers’ payments to personal pension schemes.
  227. 111BObtaining information for purposes of section 111A and corresponding Northern Ireland legislation. Repealed
  228. 112Restrictions on investment of scheme’s resources in employer-related assets. Repealed
  229. 113Disclosure of information about schemes to members etc.
  230. 113ADisclosure of information about transfers etc
  231. 113BOccupational pension schemes: requirements to refer members to guidance etc
  232. 114Additional documents for members etc. and Registrar. Repealed
  233. 115Powers as respects failure to comply with information requirements.
  234. 116Regulations as to auditors. Repealed
  235. 117Regulations as to form and content of advertisements.
  236. 118Equal access requirements. Repealed
  237. Part VII: Insolvency of employers
  238. Chapter I: Independent trustees
  239. 119Requirement for independent trustee where employer becomes insolvent etc. Repealed
  240. 120Members’ powers to apply to court to enforce duty under s. 119. Repealed
  241. 121Further provisions as to appointment and powers of independent trustees. Repealed
  242. 122Duty of insolvency practitioner or official receiver to give information to scheme trustees. Repealed
  243. Chapter II: Payment by Secretary of State of unpaid scheme contributions
  244. 123Interpretation of Chapter II.
  245. 124Duty of Secretary of State to pay unpaid contributions to schemes.
  246. 125Certification of amounts payable under s. 124 by insolvency officers.
  247. 126Complaint to industrial tribunal.
  248. 127Transfer to Secretary of State of rights and remedies.
  249. Chapter III: Priority in bankruptcy
  250. 128Priority in bankruptcy etc.
  251. Part VIII: Relationship between requirements and scheme rules
  252. 129Overriding requirements.
  253. 130Extra-statutory benefits.
  254. 131Relationship of preservation requirements and scheme rules.
  255. 132Duty to bring schemes into conformity with indirectly-applying requirements.
  256. 133Advice of the Board as to conformity of schemes with requirements. Repealed
  257. 134Determination of questions whether schemes conform with requirements. Repealed
  258. 135Persons competent to make applications under s. 134. Repealed
  259. Part IX: Modification and winding up of schemes
  260. Modification
  261. 136Applications to the Board to modify schemes (other than public service schemes). Repealed
  262. 137Persons competent to make applications under s. 136. Repealed
  263. 138Further provisions concerning the Board’s powers under s. 136. Repealed
  264. 139Other functions of the Board as respects modification of schemes. Repealed
  265. 140Effect of orders under ss. 136 and 139. Repealed
  266. 141Modification of public service schemes. Repealed
  267. Winding up
  268. 142Powers of the Board to wind up schemes. Repealed
  269. 143Winding up of public service schemes. Repealed
  270. 144Deficiencies in the assets of a scheme on winding up. Repealed
  271. Part X: Investigations: the Pensions Ombudsman
  272. 145The Pensions Ombudsman.
  273. 145ADeputy Pensions Ombudsmen
  274. 146Functions of the Pensions Ombudsman.
  275. 147Death, insolvency or disability of authorised complainant.
  276. 148Staying court proceedings where a complaint is made or a dispute is referred.
  277. 149Procedure on an investigation.
  278. 150Investigations: further provisions.
  279. 151Determinations of the Pensions Ombudsman.
  280. 151AInterest on late payment of benefit
  281. 152Power to make special county court rules.
  282. Part XI: General and miscellaneous provisions
  283. Modification powers
  284. 153Power to modify certain provisions of this Act.
  285. 154Application of enactments as respects personal pension schemes.
  286. Information about schemes
  287. 155Requirement to give information to the Secretary of State or the Board for the purposes of certain provisions.
  288. 156Information for purposes of contracting-out.
  289. 157Power of Secretary of State to obtain information in connection with applications under s. 124.
  290. 158Disclosure of information between government departments etc.
  291. 158AOther disclosures by the Secretary of State.
  292. Avoidance of certain transactions and provisions
  293. 159Inalienability of guaranteed minimum pension ....
  294. 159ANo forfeiture on bankruptcy of rights under personal pension schemes.
  295. 160Terms of contracts of service or schemes restricting choice to be void.
  296. 161Provisions excluding Chapter II of Part VII to be void.
  297. 162Removal of restrictions on friendly societies’ pension business.
  298. 163Exemption of certain schemes from rule against perpetuities.
  299. Special classes of earner
  300. 164Crown employment.
  301. 165Application of certain provisions to cases with foreign element.
  302. Reciprocity with other countries
  303. 166Reciprocity with other countries.
  304. Application of provisions relating to social security administration
  305. 167Application of general provisions relating to administration of social security.
  306. General provisions as to offences
  307. 168Breach of regulations.
  308. 168AOffence in connection with the Registrar Repealed
  309. 169Offences by bodies corporate.
  310. General provisions as to determinations and appeals
  311. 170Decisions and appeals
  312. 171Questions arising in proceedings.
  313. 171AReports by Inland Revenue.
  314. 172Review of the Board’s determinations. Repealed
  315. 173References and appeals from the Board. Repealed
  316. Financial provisions
  317. 174Grants to advisory bodies etc
  318. 175Levies towards certain expenditure
  319. 176Fees for official services to schemes.
  320. 177General financial arrangements.
  321. Part XII: Supplementary Provisions
  322. Interpretation
  323. 178Trustees and managers of schemes.
  324. 179Linked qualifying service.
  325. 180Normal pension age.
  326. 180AInsurer and long-term insurance business
  327. 181General interpretation.
  328. 181AInterpretation of references to money purchase contracted-out schemes or appropriate schemes after abolition date Repealed
  329. 181BMoney purchase benefits: supplementary
  330. Subordinate legislation etc.
  331. 182Orders and regulations (general provisions).
  332. 183Sub-delegation.
  333. 184Consultation with Social Security Advisory Committee about regulations under s. 36(6).
  334. 185Consultations about other regulations.
  335. 186Parliamentary control of orders and regulations.
  336. 187Northern Ireland Constitution Act 1973: “reserved matters”. Repealed
  337. Supplemental provisions
  338. 188Repeals.
  339. 189Transitional provisions and savings.
  340. 190Prospective and consequential amendments.
  341. 191Transitory modifications.
  342. 192Extent.
  343. 193Short title and commencement.
  344. Schedule 1: The Occupational Pensions Board
  345. Introductory
  346. 1Paragraph 1 Repealed
  347. Membership Repealed
  348. 2Paragraph 2 Repealed
  349. 3Paragraph 3 Repealed
  350. 4Paragraph 4 Repealed
  351. 5Paragraph 5 Repealed
  352. Expenses, remuneration, etc. of members Repealed
  353. 6Paragraph 6 Repealed
  354. 7Paragraph 7 Repealed
  355. 8Paragraph 8 Repealed
  356. 9Paragraph 9 Repealed
  357. Procedure Repealed
  358. 10Paragraph 10 Repealed
  359. 11Paragraph 11 Repealed
  360. Proceedings Repealed
  361. 12Paragraph 12 Repealed
  362. 13Paragraph 13 Repealed
  363. 14Paragraph 14 Repealed
  364. Staff etc. Repealed
  365. 15Paragraph 15 Repealed
  366. Fees Repealed
  367. 16Paragraph 16 Repealed
  368. Instruments and contracts
  369. 17Paragraph 17 Repealed
  370. 18Paragraph 18 Repealed
  371. Schedule 2: Certification Regulations
  372. Part I: Occupational Pension Schemes
  373. General regulations: beginning and ending of employment
  374. 1Paragraph 1 Repealed
  375. 2Paragraph 2 Repealed
  376. 3Paragraph 3 Repealed
  377. Power to modify Part III etc.
  378. 4Paragraph 4 Repealed
  379. State scheme premiums
  380. 5Paragraph 5
  381. Schemes covering different employers
  382. 6Paragraph 6 Repealed
  383. Special provisions for certain public service pension schemes
  384. 7Paragraph 7 Repealed
  385. Incidental matters
  386. 8Paragraph 8 Repealed
  387. Part II: Personal Pension Schemes
  388. 9Paragraph 9 Repealed
  389. Schedule 3: Methods of revaluing accrued pension benefits
  390. The final salary method
  391. 1Paragraph 1
  392. The revaluation percentage and the appropriate revaluation percentage
  393. 2Paragraph 2
  394. 2AParagraph 2A
  395. The average salary method
  396. 3Paragraph 3
  397. The cash balance method
  398. 3AParagraph 3A
  399. The flat rate method
  400. 4Paragraph 4
  401. The money purchase method
  402. 5Paragraph 5
  403. Schedule 4: Priority in Bankruptcy etc
  404. Earner’s contributions to occupational pension scheme
  405. 1Paragraph 1
  406. Employer’s contributions to occupational pension scheme
  407. 2Paragraph 2
  408. State scheme premiums
  409. 3Paragraph 3
  410. Interpretation
  411. 4Paragraph 4
  412. Schedule 5: Repeals
  413. IGeneral
  414. IIProvisions relating to equal access Not yet in force
  415. IIIProvisions repealed as respects Great Britain only
  416. IVSubordinate legislation revoked
  417. Schedule 6: Transitional Provisions and Savings
  418. Part I: General Provisions
  419. 1Paragraph 1
  420. 2Paragraph 2
  421. 3Paragraph 3
  422. 4Paragraph 4
  423. 5Paragraph 5
  424. 6Paragraph 6
  425. Part II: Specific Provisions
  426. Contracting-out requirements for schemes providing guaranteed minimum pensions
  427. 7Paragraph 7
  428. 8Paragraph 8
  429. 9Paragraph 9
  430. 10Paragraph 10
  431. Overriding effect of certain requirements for existing contracted-out and appropriate schemes
  432. 11Paragraph 11 Repealed
  433. 12Paragraph 12
  434. Transactions discharging trustees
  435. 13Paragraph 13
  436. Contributions equivalent premiums: earnings before 1987-88
  437. 14Paragraph 14
  438. Preservation
  439. 15Paragraph 15
  440. Anti-franking
  441. 16Paragraph 16
  442. Modifications in consequence of enactment of Part I of the Social Security Act 1986
  443. 17Paragraph 17
  444. Savings for statutory instruments
  445. 18Paragraph 18
  446. 19Paragraph 19
  447. Provisions contained in this Act by virtue of statutory instruments
  448. 20Paragraph 20
  449. Saving for application of general provisions relating to social security
  450. 21Paragraph 21
  451. Saving for section 7 of the Social Security Act 1986
  452. 22Paragraph 22
  453. Schedule 7: Re-enactment or amendment of certain provisions not in force Not yet in force
  454. The Equal Pay Act 1970 (c. 41) Not yet in force
  455. 1Paragraph 1 Not yet in force
  456. The Social Security Act 1989 (c.24) Not yet in force
  457. 2Paragraph 2 Not yet in force
  458. This Act Not yet in force
  459. 3Paragraph 3 Not yet in force
  460. Schedule 8: Consequential Amendments
  461. The Parliamentary Commissioner Act 1967 (c. 13)
  462. 1Paragraph 1
  463. The Administration of Justice Act 1970 (c. 31)
  464. 2Paragraph 2
  465. The Equal Pay Act 1970 (c. 41)
  466. 3Paragraph 3 Repealed
  467. The Attachment of Earnings Act 1971 (c. 32)
  468. 4Paragraph 4
  469. The Pensions (Increase) Act 1971 (c. 56)
  470. 5Paragraph 5
  471. The Superannuation Act 1972 (c. 11)
  472. 6Paragraph 6
  473. 7Paragraph 7
  474. 8Paragraph 8
  475. The Social Security Pensions Act 1975 (c. 60)
  476. 9Paragraph 9
  477. The Rent Act 1977 (c. 42)
  478. 10Paragraph 10
  479. The Employment Protection (Consolidation) Act 1978 (c. 44)
  480. 11Paragraph 11 Repealed
  481. The Justices of the Peace Act 1979 (c. 55)
  482. 12Paragraph 12
  483. The Judicial Pensions Act 1981 (c. 20)
  484. 13Paragraph 13
  485. 14Paragraph 14
  486. The Forfeiture Act 1982 (c. 34)
  487. 15Paragraph 15
  488. The Companies Act 1985 (c. 6)
  489. 16Paragraph 16 Repealed
  490. The Bankruptcy (Scotland) Act 1985 (c. 66)
  491. 17Paragraph 17 Repealed
  492. The Insolvency Act 1986 (c. 45)
  493. 18Paragraph 18
  494. The Coal Industry Act 1987 (c. 3)
  495. 19Paragraph 19 Repealed
  496. The Income and Corporation Taxes Act 1988 (c. 1)
  497. 20Paragraph 20 Repealed
  498. The Official Secrets Act 1989 (c. 6)
  499. 21Paragraph 21
  500. The Finance Act 1989 (c. 26)
  501. 22Paragraph 22
  502. The Electricity Act 1989 (c. 29)
  503. 23Paragraph 23
  504. The Social Security Administration Act 1992 (c. 5)
  505. 24Paragraph 24 Repealed
  506. 25Paragraph 25
  507. 26Paragraph 26 Repealed
  508. 27Paragraph 27
  509. 28Paragraph 28
  510. 29Paragraph 29
  511. 30Paragraph 30
  512. 31Paragraph 31
  513. The Social Security Contributions and Benefits Act 1992 (c. 4)
  514. 32Paragraph 32
  515. 33Paragraph 33
  516. 34Paragraph 34
  517. 35Paragraph 35
  518. 36Paragraph 36
  519. 37Paragraph 37
  520. 38Paragraph 38
  521. 39Paragraph 39
  522. 40Paragraph 40
  523. 41Paragraph 41
  524. 42Paragraph 42
  525. 43Paragraph 43
  526. The Tribunals and Inquiries Act 1992 (c. 53)
  527. 44Paragraph 44
  528. The Social Security Act 1993 (c.3)
  529. 45Paragraph 45
  530. The Judicial Pensions and Retirement Act 1993 (c.8)
  531. 46Paragraph 46
  532. Schedule 9: Transitory Modifications
  533. 1Paragraph 1
  534. Rule against perpetuities
  535. 2Paragraph 2
  536. Limited price indexation
  537. 3Paragraph 3 Repealed
  538. Guaranteed minimum for married women and widows paying reduced rate contributions
  539. 4Paragraph 4 Repealed
  540. 5Paragraph 5 Repealed
  541. Friendly societies
  542. 6Paragraph 6
  543. Judicial pensions
  544. 7Paragraph 7
  545. Schedule: TABLE OF DERIVATIONS
  546. 1Notes:
  547. 2Paragraph 2
  548. 3Paragraph 3
  549. 4Paragraph 4
  550. 5Paragraph 5
  551. 6Paragraph 6