Section 37A Transfer of liabilities etc: schemes contracted-out on or after 6 April 1997F1
England, Wales and Scotland
Regulations may prohibit or restrict—
the transfer of any liability—
for the payment of pensions under a relevant scheme, or
in respect of accrued rights to such pensions,
the discharge of any liability to provide pensions under a relevant scheme, or
the payment of a lump sum instead of a pension payable under a relevant scheme,
except in prescribed circumstances or on prescribed conditions.
In this section “relevant scheme” means a scheme that was a salary related contracted-out scheme by virtue of section 9(2B) and references to pensions and accrued rights under the scheme are to such pensions and rights so far as attributable to an earner's service on or after the principal appointed day (including, in a case where there has been a transfer payment, any pensions or rights deriving (directly or indirectly) from—
an earner's service on or after the principal appointed day in employment that was contracted-out employment by reference to another scheme, or
in a case where the transfer payment was made before the first abolition date, protected rights under another occupational pension scheme or under a personal pension scheme which derive from payments or contributions in respect of employment on or after the principal appointed day).
Regulations under subsection (1) may provide that any provision of this Part shall have effect subject to such modifications as may be specified in the regulations.
Annotations
Textual amendments
- F1
S. 37A inserted (7.7.2015 for specified purposes, 6.4.2016 otherwise) by Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 25; S.I. 2015/1475, art. 2(1)(c)
Notes on Part III
Textual amendments
- F1
Words in Pt. 3 heading omitted (6.4.2016) by virtue of Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 3(b)
- F2
Words in Pt. 3 heading substituted (6.4.2016) by Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 3(a)
Modifications
- C1
Pt. III power to modify conferred by Social Security Administration Act 1992 (c. 5), s. 148 (as read with Pensions Act 1995 (c. 26), ss. 128(3)(4), 180(2) (with s. 128(5)(6)); Child Support, Pensions and Social Security Act 2000 (c. 19), ss. 33(2)-(4), 86(1)(b)(2))
- C2
Pt. III: power to modify conferred (1.6.1996 for specified purposes, 6.4.1997 in so far as not already in force) by Pensions Act 1995 (c. 26), ss. 149(1), 180(1); S.I. 1996/778, art. 2(6); S.I. 1997/664, art. 2(3), Sch. Pt. 2
- C3
Pt. III applied (with modifications) (6.4.1997) by The Occupational Pension Schemes (Mixed Benefit Contracted-out Schemes) Regulations 1996 (S.I. 1996/1977), regs. 1(1), 2(4)(a)-(f)
- C4
Pt. III: power to transfer functions conferred (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), ss. 23, 28(3); S.I. 1999/527, art. 2(b), Sch. 2 (with arts. 3-6)
- C5
Pt. 3 modified (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 7(2); S.I. 2014/1683, art. 2
Notes on Chapter I
Textual amendments
- F1
Pt. 3 Ch. 1 heading substituted (6.4.2016) by Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 4
Notes on Alteration of rules by former salary related contracted-out schemes
Textual amendments
- F1
Words in s. 37 cross-heading substituted (6.4.2016) by Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 23