Regulation 2 Salary related schemes

For the purposes of Chapter II of Part IVA of the 1993 Act M1 (requirements relating to pension credit benefit—transfer values) and these Regulations, an occupational pension scheme is salary related if it is not a money purchase scheme and it is not a scheme—

(a)

the only benefit provided by which (other than money purchase benefits) are death benefits; and

(b)

under the provisions of which no member has accrued rights (other than rights to money purchase benefits).

Annotations

Marginal citations

M1: Part IVA is inserted by section 37 of the Welfare Reform and Pensions Act 1999.