Section 16 Qualifying schemesI1

England, Wales and Scotland

(1)

A pension scheme is a qualifying scheme in relation to a jobholder (J) if—

(a)

the scheme is an occupational pension scheme or a personal pension scheme,

C1(b)

the scheme is registered under Chapter 2 of Part 4 of the Finance Act 2004 (c. 12), and

(c)

while J is an active member, the scheme satisfies the quality requirement in relation to J.

(2)

The Secretary of State may by regulations provide that subsection (1)(b) does not apply in relation to a scheme to which section 25 or 27 applies, if prescribed requirements are satisfied.

(3)

The Secretary of State may by regulations provide that a scheme is not a qualifying scheme in relation to J if—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2(aa)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(ab)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

while J is an active member, the contributions that must be paid to the scheme by, or on behalf or in respect of, J exceed a prescribed amount, or

(c)

the scheme provides for average salary benefits to be provided to or in respect of J and contains prescribed features.

F4(3A)

See also paragraphs 1(4) and 2(4) of Schedule 18 to the Pensions Act 2014, which confer power to make regulations providing for a scheme not to be a qualifying scheme in relation to a jobholder in certain circumstances.

F5(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: S. 16(3)(a) omitted (11.9.2014) by virtue of Pensions Act 2014 (c. 19), s. 56(1), Sch. 18 para. 11(2); S.I. 2014/2377, art. 2(1)(a)(i)(2)(k)
F2: S. 16(3)(aa) omitted (11.9.2014) by virtue of Pensions Act 2014 (c. 19), s. 56(1), Sch. 18 para. 11(2); S.I. 2014/2377, art. 2(1)(a)(i)(2)(k)
F3: S. 16(3)(ab) omitted (11.9.2014) by virtue of Pensions Act 2014 (c. 19), s. 56(1), Sch. 18 para. 11(2); S.I. 2014/2377, art. 2(1)(a)(i)(2)(k)
F4: S. 16(3A) inserted (11.9.2014) by Pensions Act 2014 (c. 19), s. 56(1), Sch. 18 para. 11(3); S.I. 2014/2377, art. 2(1)(a)(i)(2)(k)
F5: S. 16(4)(5) omitted (11.9.2014) by virtue of Pensions Act 2014 (c. 19), s. 56(1), Sch. 18 para. 11(4); S.I. 2014/2377, art. 2(1)(a)(i)(2)(k)

Modifications

C1: S. 16(1)(b) excluded (1.7.2012) by The Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations (S.I. 2010/772), regs. 1(1) (as amended by S.I. 2012/1257, reg. 3(b)) and 47

Commencement

I1: S. 16 wholly in force at 30.6.2012; s. 16 in force for certain purposes at Royal Assent see s. 149(2)(k); s. 16 in force so far as not already in force at 30.6.2012 by S.I. 2012/1682, art. 2(1)(2)(a), Sch. 1

Notes on Part 1

Modifications

C1: Pt. 1 applied (with modifications) (temp. 1.7.2012 to 30.6.2020) by The Automatic Enrolment (Offshore Employment) Order 2012 (S.I. 2012/1388), art. 2 (with saving in art. 5)