Paragraph 2 I1I2
(1)
Section 84 (basis of revaluation of accrued benefits) is amended as follows.
(2)
In subsection (3), after “money purchase benefit” insert “ other than a collective money purchase benefit ”.
(3)
After subsection (3A) insert—
“(3AA)If any such benefit as is mentioned in section 83(1)(a) is a collective money purchase benefit, the benefit shall be revalued using the cash balance method.”
Annotations
Commencement
- I1
Sch. 3 para. 2 in force at Royal Assent for specified purposes, see s. 131(3)(a)
- I2
Sch. 3 para. 2 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)