Article 8 Amendment of the Pension Sharing (Pension Credit Benefit) Regulations 2000

(1)

The Pension Sharing (Pension Credit Benefit) Regulations 2000^f1 are amended in accordance with this article.

(2)

In regulation 1(2) (interpretation), omit the definition of “safeguarded rights”.

(3)

In regulation 10 (transfer of a person’s pension credit rights without consent)^f2, omit paragraph (9).

(4)

Omit—

(a)

regulation 16 (transfer payments in respect of safeguarded rights – general),

(b)

regulation 17 (transfer payments to money purchase contracted-out schemes and appropriate schemes),

(c)

regulation 18 (transfer payments to salary related contracted-out schemes), and

(d)

regulation 19 (transfer payments to overseas schemes or overseas arrangements)^f3.

(5)

In regulation 20 (requirements to be met by annuities), for “Subject to regulation 19, the prescribed” substitute “The prescribed”.

(6)

In regulation 21 (requirements of other pension arrangements)—

(a)

in paragraph (1)(a), add “or” at the end,

(b)

omit paragraph (1)(b), and

(c)

in paragraph (3), for “paragraph (1)(b) and (c)” substitute “paragraph (1)(c)”.

(7)

In regulation 22 (requirements to be met by an eligible scheme)^f4, omit sub-paragraph (a) of paragraph (1).

(8)

In regulation 35 (definition of eligible pension credit rights)^f5, omit paragraph (2)(b) and the word “or” immediately preceding it.

Annotations