# Pensions Act 2008, Section 29: Transitional periods for money purchase and personal pension schemes

Extent: E+W+S

(1) During the first transitional period ...—
(a) sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “ 1% ”;
(b) sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “ 2% ”.
(2) The first transitional period is a prescribed period of at least one year, beginning with the coming into force of section 20.
(3) During the second transitional period ...—
(a) sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “ 2% ”;
(b) sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “ 5% ”.
(4) The second transitional period is a prescribed period of at least one year, beginning with the end of the first transitional period.

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Source: https://www.legislation.gov.uk/ukpga/2008/30/section/29 (the official version)
Page: https://openlegislation.uk/pensions-act-2008/section-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.