OpenLegislation

Pensions Act 2007 in Wales

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  33. 20Personal Accounts Delivery Authority Repealed
  34. 21Initial function of the Authority Repealed
  35. 22Management of the Authority Repealed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