OpenLegislation

Pension Schemes Act 1993 in Scotland

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(4)word repealedPensions Act 2004 Sch. 13
s. 146(6A)insertedPensions Act 2004 Sch. 12 para. 24(b)
s. 145(1A)-(1C)insertedPensions Act 2004 Sch. 12 para. 23
s. 131(b)words repealedPensions Act 2004 Sch. 13
s. 181(3)words repealedPensions Act 2004 Sch. 13
s. 34(1)(a)(ii)words repealedPensions Act 2004 Sch. 13
s. 50(4)words substitutedPensions Act 2007 Sch. 4 para. 55
s. 45repealedPensions Act 2007 Sch. 4 para. 53 Sch. 7 Pt. 7
s. 20(3)words repealedPensions Act 2007 Sch. 4 para. 48 Sch. 7 Pt. 7
s. 40(b)repealedPensions Act 2007 Sch. 4 para. 50 Sch. 7 Pt. 7
s. 42ArepealedPensions Act 2007 Sch. 4 para. 51 Sch. 7 Pt. 7
s. 43repealedPensions Act 2007 Sch. 4 para. 52 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. 177(7)(a)words repealedPensions Act 2007 Sch. 4 para. 57(3) Sch. 7 Pt. 7
s. 164(2)(b)words repealedPensions Act 2007 Sch. 4 para. 56 Sch. 7 Pt. 7
s. 177(2)(a)repealedPensions Act 2007 Sch. 4 para. 57(2)(b) Sch. 7 Pt. 7
s. 177(2)(za)words repealedPensions Act 2007 Sch. 4 para. 57(2)(a) 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. 46A(1)(c)words substitutedPensions Act 2011 Sch. 3 para. 11(a)
s. 46(1A)words substitutedPensions Act 2011 Sch. 3 para. 10
s. 101AI(8)(a)(viii)insertedPensions Act 2014 Sch. 17 para. 20(3)(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. 94(2A)(a)(viii)insertedPensions Act 2014 Sch. 17 para. 20(2)(a)
s. 86A 86BinsertedPension Schemes Act 2015 Sch. 1 para. 6
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(5)words substitutedPension Schemes Act 2015 s. 38(6)
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
Sch. 3 para. 4omittedPension Schemes Act 2015 Sch. 1 para. 9
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. 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. 113(1)words substitutedPension Schemes Act 2015 s. 38(2)(a)
s. 185(2)(ca)insertedFinancial Guidance and Claims Act 2018 s. 19(5)
s. 1(1)modifiedPension Schemes Act 2026 s. 97(2)
s. 55(2A)(c)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 16
s. 48(2)(c)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 15
s. 17(2)(c)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(b)
s. 17(1)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(a)
s. 8(2)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 1
s. 12A(1)(2)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 2
s. 12B(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 3
s. 109(2)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 22
s. 109(2)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 23
s. 109(2)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 24(1)
s. 109(2)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 24(2)
s. 17(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(c)
s. 17(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(d)(i)
s. 17(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(d)(ii)
s. 17(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(d)(iii)
s. 17(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(d)(iv)
s. 17(4B)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(e)
s. 17(6)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(f)
s. 17(7)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(g)
s. 17(8)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 4(h)
s. 19(5)(a)(i)(ii)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 5
s. 20(6)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 6
s. 21(2)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 7
s. 23(3)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 8
s. 28(3)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 9(a)
s. 28(4B)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 9(b)
s. 28(8)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 9(c)(i)
s. 28(8)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 9(c)(ii)
s. 28A(1)(3)(5)(b)(ii)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 10
s. 29(1)(b)(3)(b)(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 11
s. 37(4)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 12
s. 38(2)word insertedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 13(a)
s. 60words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 17
s. 88(1)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 19
s. 89(1)(a)(b)(2)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 20
s. 90(2)(a)(b)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 21
s. 38(2)words insertedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 13(b)
s. 47(1)words insertedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 14(a)
s. 47(3)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 14(b)(i)
s. 47(3)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 14(b)(ii)
s. 87(2)(c)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 18(a)
s. 87(3)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 18(b)
s. 87(3)(a)(4)(d)words substitutedCivil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) 2005 art. 2(1) Sch. 1 para. 18(c)
s. 84(1)modifiedOccupational and Personal Pension Schemes (Automatic Enrolment) 2010 reg. 37(3)
Pt. 4 Ch. 3modifiedFirefighters’ Pension Scheme (Consequential Provisions) 2015 reg. 10
Pt. 4 Ch. 3modifiedPublic Service (Civil Servants and Others) Pensions (Consequential and Amendment) 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

Annotations to the whole text

Modifications

C1

Act modified (19.7.1995) by Pensions Act 1995 (c. 26), Sch. 4 para. 1

C2

Act applied (4.12.1995 for specified purposes, 1.1.1996 for specified purposes, 6.4.1996 in so far as not already in force) by Pensions Act 1995 (c. 26), s. 124(5) (with s. 121(5)); S.I. 1995/3104, art. 2; S.I. 1996/778, art. 2(4), Sch. Pt. 4

C3

Act: power to modify conferred (6.4.1997 in so far as not already in force) by Pensions Act 1995 (c. 26), s. 149(2); S.I. 1996/778, art. 2(6); S.I. 1997/664, art. 2(3), Sch. Pt. 2

C4

Act: power to modify conferred (25.2.1999 for specified purposes, 1.4.1999 in so far as not already in force) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 15(1)(2)(b); S.I. 1999/527, art. 2(b), Sch. 2 (with arts. 3-6)

C5

Act: power to modify conferred (11.11.1999) by Welfare Reform and Pensions Act 1999 (c. 30), s. 85(1)(b)(i)

C6

Act: power to amend conferred (2.12.1999) by Northern Ireland Act 1998 (c. 47), s. 87 (with s. 95); S.I. 1999/3209, art. 2, Sch.

C7

Act: transfer of functions (6.4.2005) by Pensions Act 2004 (c. 35), ss. 7(1)(a), 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7 (with transitional provisions and savings in S.I. 2005/695, arts. 5(8), 6, Schs. 2, 3 (as amended by S.I. 2005/1108, art. 3(b))

C8

Act modified (6.4.2006) by Pensions Act 2004 (c. 35), ss. 254(1)(3)(a), 322(1) (with s. 313); S.I. 2006/560, art. 2(3), Sch. Pt. 3

C9

Act: power to modify conferred (6.4.2006) by Pensions Act 2004 (c. 35), ss. 321(1)(b), 322(1); S.I. 2006/560, art. 2(3), Sch. Pt. 3

C10

Act modified (1.4.2008) by The Agriculture and Horticulture Development Board Order 2008 (S.I. 2008/576), art. 1(3), Sch. 4 para. 5

C11

Act: power to modify conferred (26.11.2008) by Pensions Act 2008 (c. 30), ss. 146(2)(a), 149(2)

C12

Act modified (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (S.I. 2009/317), arts. 1, 3, Sch.

C13

Act modified (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 1, Sch. 6 Pt. 1 (with reg. 27(a))

C14

Act modified (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 3 paras. 2, 3 (with reg. 5) (as amended (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 4)

Commencement

I1

Act not in force at Royal Assent, see s. 193(2)(3) and Sch. 9

Extent

E1

Act's amending/repealing provisions are co-extensive with the enactments they affect see s. 192(1)

Extent attributes have been set without reference to the co-extensive extent provision except in the repeal and amendment schedules

Editorial notes

X1

[A Table showing the derivation of the provisions of this consolidation Act will be found at the end of the Act. The Table has no official status]

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