Paragraph 77

Schedule 5 (pension credits: mode of discharge) is amended as follows.

In paragraph 8(1)(b), for the words from “section 56” to “related schemes)” substitute “ Part 3 of the Pensions Act 2004 (scheme funding) ”.

After paragraph 13 insert—

“13A

The provisions of this Schedule are subject to—

(a)

section 73A(3) and (6) of the Pensions Act 1995 (prohibition on new members during winding up of scheme: exception for discharge of pension credit derived from the scheme), and

(b)

section 133(2) and (8) of the Pensions Act 2004 (prohibition on new members during an assessment period in relation to a scheme: exception for discharge of pension credit derived from the scheme).”