Regulation 3 Amendment of the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987

After regulation 5 of the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987^f1 there is inserted–

“Modification of the provisions of Part VI of the Social Security Act 1986 in consequence of Part I of that Act

6

Where a member of an appropriate personal pension scheme or a money purchase contracted-out scheme continues in employment after attaining pensionable age and the commencement of his pension under the scheme is postponed, section 63 of the Social Security Act 1986^f2 shall have effect as if–

(a)

the guaranteed minimum pension to which he is treated as entitled by virtue of section 4(1)(a) of that Act or, as the case may be, by virtue of section 29(2A) of the Social Security Pensions Act 1975^f3 was subject to increases in accordance with the provisions of section 35(6) of the Social Security Pensions Act 1975^f4, and

(b)

the amounts of any notional increases referred to in paragraph (a) were subject to annual up-rating in the same way as if they were sums to which section 63(1)(d)(i) of the Social Security Act 1986 applied.”.