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The Pensions Act 2008 (Commencement No. 16) Order 2018

S.I. 2018/63 · Made 17 January 2018

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Pensions

Made 17th January 2018

The Secretary of State for Work and Pensions makes the following Order in exercise of the power conferred by section 149(1) of the Pensions Act 2008f1.

Annotations to the whole text

Footnotes

f1

2008 c. 30.

Contents

  1. 1Citation
  2. 2Commencement of provisions
  3. Signature
  4. Explanatory note

1Citation

This Order may be cited as the Pensions Act 2008 (Commencement No. 16) Order 2018.

2Commencement of provisions

The day appointed for the coming into force of paragraph 15 of Schedule 8 to the Pensions Act 2008 (amendments of Schedule 7 to the Pensions Act 2004)f1, and section 122 of that Act in so far as it relates to that paragraph, is 22nd January 2018.

Signature

Signed by authority of the Secretary of State for Work and Pensions.

Guy Opperman

Parliamentary Under Secretary of State

Department for Work and Pensions

17th January 2018

Explanatory note

(This note is not part of the Order)

This Order brings into force paragraph 15 of Schedule 8 to the Pensions Act 2008 (c. 30) (amendments of Schedule 7 to the Pensions Act 2004) and section 122 of that Act in so far as it relates to that paragraph, on 22nd January 2018. Paragraph 15 of Schedule 8 amends paragraph 33 of Schedule 7 to the Pensions Act 2004 (c. 35) (pension compensation provisions). Paragraph 33 provides a power to modify Schedule 7 in its application to such schemes as may be prescribed. The amendment inserts new sub-paragraphs into paragraph 33 to make specific provision about the exercise of the modification power in relation to “variable-rate schemes”, as defined in paragraph 33 of Schedule 7 (as amended).

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.