Paragraph 10 I1I2

In section 89 (application of further provisions to money purchase schemes), at the end insert—

“(3)

Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this section as a separate money purchase scheme.”