OpenLegislation

Pensions Act 2007

2007 c. 22 · Enacted 26 July 2007 · Extends to United Kingdom

Not fully up to date. 5 changes made by later legislation have not yet been written into this text, which is revised to 28 April 2022.

See the changes not yet applied
ProvisionChangeMade by
Sch. 1 para. 25repealedWelfare Reform Act 2009 Sch. 7 Pt. 1
Sch. 1 para. 14repealedWelfare Reform Act 2009 Sch. 7 Pt. 2
Sch. 1 para. 15repealedWelfare Reform Act 2009 Sch. 7 Pt. 2
Sch. 1 para. 25repealedWelfare Reform Act 2012 Sch. 14 Pt. 1
Sch. 1 para. 42repealedWelfare Reform Act 2012 Sch. 14 Pt. 9
An Act to make provision about pensions and other benefits payable to persons in connection with bereavement or by reference to pensionable age; to make provision about the establishment and functions of the Personal Accounts Delivery Authority; and for connected purposes.[26th July 2007]

Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Contents

  1. Part 1: State pension
  2. Entitlement to Category A and B retirement pensions
  3. 1Category A and B retirement pensions: single contribution condition
  4. 2Category B retirement pension: removal of restriction on entitlement
  5. Credits for basic state pension
  6. 3Contributions credits for relevant parents and carers
  7. Abolition of adult dependency increases
  8. 4Category A and C retirement pensions: abolition of adult dependency increases
  9. Up-rating of basic state pension and other benefits
  10. 5Up-rating of basic pension etc. and standard minimum guarantee by reference to earnings
  11. 6Preservation of link with prices in case of other benefits
  12. 7Removal of link between lower earnings limit and basic pension
  13. 8Removal of link between lower earnings limit and basic pension: Northern Ireland
  14. Additional pension: deemed earnings factors
  15. 9Deemed earnings factors for purposes of additional pension
  16. Additional pension: simplification of accrual rates
  17. 10Additional pension: removal of accrual band from 2010-11
  18. 11Additional pension: simplified accrual rates as from flat rate introduction year
  19. 12Additional pension: upper accrual point
  20. Increase in state pension age
  21. 13Increase in pensionable age for men and women
  22. Part 2: Occupational and personal pension schemes
  23. Contracting-out
  24. 14Conversion of guaranteed minimum pensions
  25. 15Abolition of contracting-out for defined contribution pension schemes
  26. Dispute resolution
  27. 16Dispute resolution arrangements
  28. Actuarial guidance Not yet in force
  29. 17Removal of Secretary of State's role in approving actuarial guidance
  30. Financial assistance scheme
  31. 18Financial assistance scheme: increased levels of payments
  32. 19Temporary restriction on purchase of annuities
  33. Part 3: Personal Accounts Delivery Authority
  34. 20Personal Accounts Delivery Authority Repealed
  35. 21Initial function of the Authority Repealed
  36. 22Management of the Authority Repealed
  37. 23Winding up of the Authority
  38. Part 4: General
  39. 24Review of operation of Act
  40. 25Orders and regulations
  41. 26Interpretation
  42. 27Consequential etc. provision, repeals and revocations
  43. 28Financial provisions
  44. 29Extent
  45. 30Commencement
  46. 31Short title
  47. Schedule 1: State pension: consequential and related amendments
  48. Part 1: Category A and B retirement pensions: single contribution condition
  49. 1Paragraph 1
  50. 2Paragraph 2
  51. 3Paragraph 3
  52. 4Paragraph 4
  53. 5Paragraph 5
  54. Part 2: Category B retirement pension: removal of restriction on entitlement
  55. 6Paragraph 6
  56. 7Paragraph 7
  57. 8Paragraph 8
  58. Part 3: Contributions credits for relevant parents and carers
  59. Social Security Contributions and Benefits Act 1992 (c. 4)
  60. 9Paragraph 9
  61. 10Paragraph 10
  62. Welfare Reform Act 2007 (c. 5)
  63. 11Paragraph 11
  64. Part 4: Category A and C retirement pensions: abolition of adult dependency increases
  65. 12Paragraph 12
  66. 13Paragraph 13
  67. 14Paragraph 14
  68. 15Paragraph 15
  69. 16Paragraph 16
  70. 17Paragraph 17
  71. 18Paragraph 18
  72. Part 5: Up-rating of basic pension etc. and standard minimum guarantee by reference to earnings
  73. Social Security Contributions and Benefits Act 1992 (c. 4)
  74. 19Paragraph 19
  75. 20Paragraph 20 Repealed
  76. Social Security Administration Act 1992 (c. 5)
  77. 21Paragraph 21
  78. 22Paragraph 22
  79. 23Paragraph 23
  80. 24Paragraph 24
  81. 25Paragraph 25
  82. 26Paragraph 26
  83. 27Paragraph 27
  84. 28Paragraph 28
  85. 29Paragraph 29
  86. 30Paragraph 30
  87. 31Paragraph 31
  88. 32Paragraph 32
  89. Part 6: Deemed earnings factors for purposes of additional pension
  90. 33Paragraph 33
  91. 34Paragraph 34
  92. Part 7: Additional pension: simplified accrual rates
  93. Social Security Contributions and Benefits Act 1992 (c. 4)
  94. 35Paragraph 35
  95. Pension Schemes Act 1993 (c. 48)
  96. 36Paragraph 36
  97. 37Paragraph 37 Repealed
  98. 38Paragraph 38
  99. 39Paragraph 39 Repealed
  100. Part 8: Increase in pensionable age for men and women
  101. Social Security Contributions and Benefits Act 1992 (c. 4)
  102. 40Paragraph 40
  103. 41Paragraph 41
  104. 42Paragraph 42
  105. 43Paragraph 43
  106. State Pension Credit Act 2002 (c. 16)
  107. 44Paragraph 44 Repealed
  108. Schedule 2: Additional pension: simplified accrual rates
  109. Part 1: New Schedule 4B to the SSCBA
  110. 1Paragraph 1
  111. Part 2: Revaluation of flat rate accrual amount
  112. 2Paragraph 2
  113. Part 3: Consequential and related amendments
  114. Social Security Contributions and Benefits Act 1992 (c. 4)
  115. 3Paragraph 3
  116. 4Paragraph 4
  117. 5Paragraph 5
  118. 6Paragraph 6
  119. 7Paragraph 7
  120. 8Paragraph 8
  121. 9Paragraph 9
  122. 10Paragraph 10
  123. 11Paragraph 11
  124. Pension Schemes Act 1993 (c. 48)
  125. 12Paragraph 12
  126. Schedule 3: Increase in pensionable age for men and women
  127. 1Paragraph 1
  128. 2Paragraph 2
  129. 3Paragraph 3
  130. 4Paragraph 4
  131. Schedule 4: Abolition of contracting-out for defined contribution pension schemes
  132. Part 1: Amendments having effect as from abolition date
  133. Pension Schemes Act 1993 (c. 48)
  134. 1Paragraph 1
  135. 2Paragraph 2
  136. 3Paragraph 3
  137. 4Paragraph 4
  138. 5Paragraph 5 Repealed
  139. 6Paragraph 6
  140. 7Paragraph 7 Repealed
  141. 8Paragraph 8 Repealed
  142. 9Paragraph 9 Repealed
  143. 10Paragraph 10 Repealed
  144. 11Paragraph 11
  145. 12Paragraph 12 Repealed
  146. 13Paragraph 13 Repealed
  147. 14Paragraph 14 Repealed
  148. 15Paragraph 15
  149. 16Paragraph 16 Repealed
  150. 17Paragraph 17
  151. 18Paragraph 18
  152. 19Paragraph 19
  153. 20Paragraph 20
  154. 21Paragraph 21
  155. 22Paragraph 22
  156. 23Paragraph 23
  157. 24Paragraph 24 Repealed
  158. 25Paragraph 25 Repealed
  159. 26Paragraph 26
  160. 27Paragraph 27 Repealed
  161. 28Paragraph 28
  162. 29Paragraph 29
  163. 30Paragraph 30 Repealed
  164. 31Paragraph 31
  165. 32Paragraph 32 Repealed
  166. 33Paragraph 33 Repealed
  167. 34Paragraph 34
  168. 35Paragraph 35
  169. Pensions Act 1995 (c. 26)
  170. 36Paragraph 36 Repealed
  171. Welfare Reform and Pensions Act 1999 (c. 30)
  172. 37Paragraph 37
  173. 38Paragraph 38
  174. 39Paragraph 39
  175. 40Paragraph 40 Repealed
  176. Pensions Act 2004 (c. 35)
  177. 41Paragraph 41
  178. Part 2: Further amendments
  179. Social Security Contributions and Benefits Act 1992 (c. 4)
  180. 42Paragraph 42
  181. 43Paragraph 43 Not yet in force
  182. 44Paragraph 44 Not yet in force
  183. 45Paragraph 45 Not yet in force
  184. Pension Schemes Act 1993 (c. 48)
  185. 46Paragraph 46
  186. 47Paragraph 47
  187. 48Paragraph 48 Not yet in force
  188. 49Paragraph 49
  189. 50Paragraph 50 Not yet in force
  190. 51Paragraph 51 Not yet in force
  191. 52Paragraph 52 Not yet in force
  192. 53Paragraph 53 Not yet in force
  193. 54Paragraph 54
  194. 55Paragraph 55 Not yet in force
  195. 56Paragraph 56 Not yet in force
  196. 57Paragraph 57 Not yet in force
  197. 58Paragraph 58 Not yet in force
  198. 59Paragraph 59
  199. 60Paragraph 60
  200. Part 3: Savings
  201. Issue and cancellation etc. of certificates for periods before the abolition date
  202. 61Paragraph 61
  203. 62Paragraph 62
  204. 63Paragraph 63
  205. 64Paragraph 64
  206. Determination of question whether scheme was appropriate scheme
  207. 65Paragraph 65
  208. Preservation of earner's chosen scheme
  209. 66Paragraph 66
  210. Interpretation etc.
  211. 67Paragraph 67
  212. Schedule 5: Removal of Secretary of State's role in approving actuarial guidance
  213. Bankruptcy (Scotland) Act 1985 (c. 66)
  214. 1Paragraph 1 Repealed
  215. 2Paragraph 2 Repealed
  216. Insolvency Act 1986 (c. 45)
  217. 3Paragraph 3
  218. 4Paragraph 4
  219. Pension Schemes Act 1993 (c. 48)
  220. 5Paragraph 5
  221. 6Paragraph 6
  222. Pensions Act 1995 (c. 26)
  223. 7Paragraph 7
  224. 8Paragraph 8
  225. Pensions Act 2004 (c. 35)
  226. 9Paragraph 9
  227. Schedule 6
  228. Part 1: Members and employees etc.
  229. Members
  230. 1Paragraph 1
  231. Qualifications for non-executive members
  232. 2Paragraph 2
  233. Tenure of office of non-executive members
  234. 3Paragraph 3
  235. Remuneration etc. of non-executive members
  236. 4Paragraph 4
  237. Deputy chairman
  238. 5Paragraph 5
  239. Executive members and employees
  240. 6Paragraph 6
  241. Terms and conditions of executive members
  242. 7Paragraph 7
  243. Terms and conditions of other employees
  244. 8Paragraph 8
  245. Part 2: Proceedings etc.
  246. Non-executive committee
  247. 8AParagraph 8A
  248. Other committees and advisory committees
  249. 9Paragraph 9
  250. 10Paragraph 10
  251. Proceedings of the Authority, committees and sub-committees
  252. 11Paragraph 11
  253. 12Paragraph 12
  254. Disqualification for acting in relation to certain matters
  255. 13Paragraph 13
  256. Delegation
  257. 14Paragraph 14
  258. Validity of proceedings
  259. 15Paragraph 15
  260. Authentication of the Authority's seal
  261. 16Paragraph 16
  262. Annual report
  263. 17Paragraph 17
  264. Part 3: Money
  265. Finance
  266. 18Paragraph 18
  267. Accounts
  268. 19Paragraph 19
  269. Part 4: Supplementary
  270. Disqualification
  271. 20Paragraph 20
  272. 21Paragraph 21
  273. Records and freedom of information
  274. 22Paragraph 22
  275. 23Paragraph 23
  276. Interpretation
  277. 24Paragraph 24
  278. Schedule 7: Repeals and revocations
  279. 1Category B retirement pension: removal of restriction on entitlement
  280. 2Category A and C retirement pensions: abolition of adult dependency increases
  281. 3Up-rating
  282. 4Removal of link between lower earnings limit and basic pension
  283. 5Additional pension: simplified accrual rates
  284. 6Abolition of contracting-out for defined contribution pension schemes: repeals and revocations having effect on abolition date
  285. 7Abolition of contracting-out for defined contribution pension schemes: further repeals
  286. 8Removal of Secretary of State's role in approving actuarial guidance