# Public Service Pensions and Judicial Offices Act 2022, Section 112: New public schemes: further provision

Extent: E+W+S+N.I.

(1) A new public scheme may include provision—
(a) for pensions or other benefits to be payable to or in respect of some or all persons described in section 111(1);
(b) for the provision of money purchase benefits or benefits that are not money purchase benefits (or both);
(c) for increasing in particular circumstances the amounts payable in respect of qualifying accrued rights;
(d) for the payment or receipt of transfer values or other lump sum payments for the purpose of creating rights to benefits under a new public scheme or otherwise.
(2) Regulations under section 111(1) may—
(a) provide for a new public scheme to be treated as an occupational pension scheme, a previously contracted-out scheme or another type of occupational pension scheme for the purposes of an enactment specified or described in the regulations;
(b) provide for the enactment to apply in relation to a new public scheme subject to modifications specified in the regulations.
(3) Regulations under section 111(1) amending a new public scheme may make retrospective provision.
(4) Regulations under section 111(1) may—
(a) confer functions on the Treasury or another person;
(b) provide for a person to exercise a discretion in dealing with a matter.
(5) The Treasury may—
(a) make arrangements for a new public scheme to be administered by any person;
(b) delegate to any person a function exercisable by the Treasury under a new public scheme.
(6) In this section, a “previously contracted-out scheme” means a scheme that before 6 April 2016 was a salary related contracted-out scheme within the meaning of Part 3 of the Pension Schemes Act 1993.

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Source: https://www.legislation.gov.uk/ukpga/2022/7/section/112 (the official version)
Page: https://openlegislation.uk/public-service-pensions-and-judicial-offices-act-2022/section-112
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.