Explanatory note

These Regulations make miscellaneous amendments to regulations about personal and occupational pension schemes.

Regulation 2 makes amendments to the Occupational Pension Schemes (Contracting-out) Regulations 1984 by providing for an increase, from £16 to £17, in the amount of a state scheme premium below which it need not be paid.

Regulation 3 makes amendments to the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987 by adding a new regulation 6 which provides for the guaranteed minimum pension to which a member of an appropriate personal pension scheme or a money purchase contracted-out scheme is treated as entitled to be treated as if it were also subject to increments on deferment of pension and for those increments to be subject to annual up-rating.

Regulation 4 makes amendments to the Personal Pension Schemes (Appropriate Schemes) Regulations 1988. It extends in certain circumstances the deadline for notifying the Secretary of State of the date from which a scheme is to be the earner’s chosen scheme.

The report of the Occupational Pensions Board on the draft of these Regulations which had been referred to them, together with a statement showing that the regulations give effect to the Board’s recommendations, is contained in Command Paper No. 653 published by Her Majesty’s Stationery Office.