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Section 52 Collective money purchase benefits and schemesI1I2

(1)

For the purposes of this Part, a benefit provided under a pension scheme is a “collective money purchase benefit” if—

(a)

the benefit is a qualifying benefit (see section 53), and

(b)

the scheme is a qualifying scheme (see sections 54 and 55).

(2)

In this Part “collective money purchase scheme” means—

(a)

a qualifying scheme, or

(b)

a section of a qualifying scheme (see sections 54(6) to (9) and 56),

under which all of the benefits that may be provided are qualifying benefits.

F1(3)

In this Part—

  • “single or connected employer scheme” means a collective money purchase scheme not used, or intended to be used, by any employers other than—

    1. (a)

      a single employer, or

    2. (b)

      two or more employers that are connected with each other;

  • “unconnected multiple employer scheme” means a collective money purchase scheme used, or intended to be used, by two or more employers, some or all of which are not connected with each other.

Annotations

Textual amendments

F1

S. 52(3) inserted (31.7.2026) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations (Northern Ireland) 2026 (S.R. 2026/151), regs. 1(1), 3(1)

Commencement

I1

S. 52 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I2

S. 52 in force at 1.8.2022 in so far as not already in force by S.R. 2022/197, art. 3(a)