Pensions Act 2008 in Northern Ireland
2008 c. 30 · Enacted 26 November 2008 · Extends to United Kingdom
An Act to make provision relating to pensions; and for connected purposes.
[26th November 2008]
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
- Part 1: Pension scheme membership for jobholders
- Jobholders
- 1Jobholders
- Employers' duties
- 8Jobholder's right to opt out
- Duty in relation to workers without qualifying earnings
- 9Workers without qualifying earnings
- Supplementary provision about the duties
- 11Information to be given to the Pensions Regulator
- 11AInformation to be given to pension schemes
- 12Introduction of employers' duties
- 15Pay reference period
- 15APower to specify rounded figures
- Qualifying schemes and automatic enrolment schemes
- 17Automatic enrolment schemes
- 18Occupational pension schemes
- 19Personal pension schemes
- Quality requirements
- 23AAlternative quality requirements for UK defined benefits schemes
- 25Quality requirement: non-UK occupational pension schemes
- 27Quality requirement: other personal pension schemes
- 28AMSDA approval: relevant Master Trusts
- 28BMSDA approval: group personal pension scheme
- 28CApprovals in respect of asset allocation
- 28DInformation
- 28ETransition pathway relief
- 28FNew entrant pathway relief
- 28GSuspension of asset allocation requirement: savers’ interest test
- 28HRisk notices
- 28IPenalties
- 28JEnforcement by the Financial Conduct Authority
- 28KReport about effects of pension scheme consolidation
- 28LRegulations about quality requirements
- Transitional
- 30AReview of exercise of powers under section 28C
- 33Deduction of contributions
- Effect of failure to comply
- 34Effect of failure to comply
- Compliance notices and unpaid contributions notices
- 35Compliance notices
- 36Third party compliance notices
- 37Unpaid contributions notices
- 38Calculation and payment of contributions
- 39Meaning of “relevant contributions”
- Penalty notices
- Reviews and references
- Offences and monitoring
- 45Offences of failing to comply
- 46Offences by bodies corporate
- 47Offences by partnerships and unincorporated associations
- 48Offences of providing false or misleading information
- 49Monitoring of employers' payments to personal pension schemes
- Prohibited recruitment conduct
- 50Prohibited recruitment conduct
- 51Compliance notices
- 52Penalty notices
- Inducements
- Protection of employment rights
- 55The right not to suffer detriment
- 57Right of employee not to be unfairly dismissed
- Employment Appeal Tribunal
- 59Employment Appeal Tribunal
- Records and information
- 61Powers to require information and to enter premises
- 62Disclosure of tax information etc
- 63Information for private pensions policy and retirement planning
- 64Penalty for disclosure
- Objectives of the Regulator
- 65Objectives of the Regulator
- Functions of the Pensions Ombudsman
- 66Functions of the Pensions Ombudsman
- Chapter 5: Duty to establish a pension scheme
- Pension scheme
- 67Duty to establish a pension scheme
- 68Scheme orders: general
- 69Consultation of members and employers
- 70Contribution limits Repealed
- 71Procedure for scheme orders
- 72Procedure for rules
- 73Application of enactments
- 74Review
- Trustee corporation
- 75Trustee corporation
- 76Functions
- 77Application of pension trustee legislation
- Interpretation
- 78Interpretation of Chapter
- Chapter 6: Personal Accounts Delivery Authority
- Functions
- 79Functions Repealed
- 80Principles Repealed
- 81Directions and guidance Repealed
- 82Finance Repealed
- 83Disclosure of information by the Regulator Repealed
- Constitution
- 84Non-executive committee Repealed
- 85Executive members Repealed
- Winding up
- 86Winding up of the Authority
- 87Stakeholder pension schemes
- Chapter 8: Application and interpretation
- Exceptions
- 87APower to create exceptions from the employer duties etc
- Workers
- 96Persons working on vessels
- 97Persons in offshore employment
- General
- 99Interpretation of Part
- 99AMoney purchase benefits: supplementary
- Private pensions
- 100Abolition of safeguarded rights
- 101Revaluation of accrued benefits etc
- State pensions etc
- 104Additional pension etc: minor and consequential amendments
- 106Contracting-out: abolition of all protected rights
- Chapter 1: Pension compensation on divorce etc
- 107Scope of mechanism
- 108Interpretation
- 109Activation of pension compensation sharing
- 110Activation of pension compensation sharing: supplementary (Scotland)
- 111Creation of pension compensation debits and credits
- 112Cash equivalents
- 113Reduction of compensation
- 114Time for discharge of liability
- 115“Implementation period”
- 116Discharge of liability
- 117Charges in respect of pension compensation sharing costs
- 118Supply of information about pension compensation in relation to divorce etc
- 119Supply of information about pension compensation sharing
- 120Pension compensation sharing and attachment on divorce etc
- Chapter 2: Other provision about pension compensation
- 121Charges in respect of pension sharing etc
- 123Consequential amendments
- Part 4: Financial assistance scheme
- 125Restriction on purchase of annuities
- Part 5: Miscellaneous
- 126Amendments of provisions of Pensions Act 2004 relating to contribution notices or financial support directions
- 127Review of the initial operation of sections 38A and 38B of Pensions Act 2004
- 128Pension sharing: power of Court of Session to extend time limits
- 129Interest on late payment of levies
- 130Payments to employers
- 131Appointment of trustees
- 132Intervention by Regulator where scheme's technical provisions improperly determined
- 133Delegation of powers by the Regulator
- 134Exclusion of transfers out in certain cases
- State and official pensions
- 140Pre-1948 insurance affecting German pension entitlement
- 141Pre-1948 insurance: supplementary
- 142Disclosure of information relating to state pension credit recipients
- Part 6: General
- 143Orders and regulations
- 144Orders and regulations: supplementary
- 145Power to make further provision
- 146Pre-consolidation amendments
- 149Commencement
- 150Extent
- 151Short title
- Schedule 1: The trustee corporation
- Part 1: Members and employees
- Members
- 1Paragraph 1
- Conflicts of interest
- 2Paragraph 2
- Disqualification and removal
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- Tenure of office
- 6Paragraph 6
- Remuneration etc
- 7Paragraph 7
- Staff
- 8Paragraph 8
- Part 2: Proceedings etc
- Committees and advisory committees
- 9Paragraph 9
- 10Paragraph 10
- Proceedings
- 11Paragraph 11
- 12Paragraph 12
- Disqualification for acting in relation to certain matters
- 13Paragraph 13
- Delegation
- 14Paragraph 14
- Validity of proceedings
- 15Paragraph 15
- Authentication of the trustee corporation's seal
- 16Paragraph 16
- Annual report
- 17Paragraph 17
- Part 3: Money
- Finance
- 18Paragraph 18
- 19Paragraph 19
- Accounts
- 20Paragraph 20
- Part 4: Supplementary
- Disqualification
- 21Paragraph 21
- 22Paragraph 22
- Records and freedom of information
- 23Paragraph 23
- 24Paragraph 24
- Equality
- 25Paragraph 25 Repealed
- Interpretation
- 26Paragraph 26
- Part 1: Revaluation of accrued pension benefits
- Amendments to Schedule 3 to the 1993 Act
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- Part 2: Revaluation of accrued amounts etc
- Amendments to Schedule 7 to the 2004 Act
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- Part 3: Consequential amendments
- 8Paragraph 8
- Paragraph Not yet in force
- Social Security Contributions and Benefits Act 1992 (c. 4)
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 5Paragraph 5
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13 Not yet in force
- Social Security Administration Act 1992 (c. 5) Not yet in force
- 14Paragraph 14 Not yet in force
- Pension Schemes Act 1993 (c. 48) Not yet in force
- 15Paragraph 15 Not yet in force
- 16Paragraph 16 Not yet in force
- 17Paragraph 17 Not yet in force
- 18Paragraph 18 Not yet in force
- 19Paragraph 19 Not yet in force
- 20Paragraph 20 Not yet in force
- 21Paragraph 21 Not yet in force
- 22Paragraph 22 Not yet in force
- Part 1: Introductory
- Introductory
- 1Paragraph 1
- Interpretation
- 2Paragraph 2
- Pension compensation age
- 3Paragraph 3
- Part 2: Transferee attains pension compensation age before or on transfer day
- Compensation payable to transferee
- Compensation payable to widow, widower or surviving civil partner
- Part 3: Transferee attains pension compensation age after transfer day
- Compensation payable to transferee
- Compensation payable to widow, widower or surviving civil partner
- Revaluation
- 8Paragraph 8
- Commutation of periodic compensation
- Early payment of compensation
- 10Paragraph 10
- Deferral of compensation
- Terminal illness lump sum: eligibility
- Terminal illness lump sum: application and evidence
- 13Paragraph 13
- Terminal illness lump sum: determination of application
- 14Paragraph 14
- Terminal illness lump sum: effect of successful application
- Terminal illness lump sum: information
- 16Paragraph 16
- Postponement of compensation
- 16AParagraph 16A
- Annual increase in periodic compensation
- Compensation cap
- Compensation in form of dependant's benefits
- 19Paragraph 19
- Board's power to alter rates of revaluation and indexation
- Part 1: Amendments of the Matrimonial Causes Act 1973
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- Part 2: Amendments of the Matrimonial and Family Proceedings Act 1984
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- Part 3: Amendments of the Civil Partnership Act 2004
- 14Paragraph 14
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- 18Paragraph 18
- 19Paragraph 19
- 20Paragraph 20
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 12Paragraph 12 Not yet in force
- 13Paragraph 13
- 14Paragraph 14
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- 18Paragraph 18
- Introduction
- 1Paragraph 1
- Contribution notices: material detriment test
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- Contribution notices: acting or failing to act otherwise than in good faith
- 6Paragraph 6
- Whether reasonable for Pensions Regulator to issue contribution notice
- 7Paragraph 7
- Contribution notices: series of acts or failures to act
- 8Paragraph 8
- Contribution notices and financial support directions: bulk transfers
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- Financial support directions: meaning of “insufficiently resourced”
- 14Paragraph 14
- Effect of amendments made by this Schedule
- 15Paragraph 15
- Transitional provision
- 16Paragraph 16
- Pension Schemes Act 1993 (c. 48) Not yet in force
- 1Paragraph 1 Not yet in force
- Pensions Act 2004 (c. 35)
- 2Paragraph 2
- 3Paragraph 3 Not yet in force
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6 Not yet in force
- 7Paragraph 7 Not yet in force
- 8Paragraph 8 Not yet in force
- 9Paragraph 9 Not yet in force
- 1Pension scheme membership for jobholders Not yet in force
- 2Safeguarded rights
- 3Contracting-out: abolition of all protected rights
- 4Pension compensation
- 5Financial assistance scheme Not yet in force
- 6Miscellaneous