Chwilio Deddfwriaeth

Welfare Reform and Pensions Act 1999

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3(1)Section 25D of that Act is amended as follows.E+W

(2)For subsection (1) there is substituted—

(1)Where—

(a)an order made under section 23 above by virtue of section 25B or 25C above imposes any requirement on the person responsible for a pension arrangement (“the first arrangement”) and the party with pension rights acquires rights under another pension arrangement (“the new arrangement”) which are derived (directly or indirectly) from the whole of his rights under the first arrangement, and

(b)the person responsible for the new arrangement has been given notice in accordance with regulations made by the Lord Chancellor,

the order shall have effect as if it had been made instead in respect of the person responsible for the new arrangement.

(3)In subsection (2)—

(a)for “Regulations may” there is substituted “ The Lord Chancellor may by regulations ”,

(b)in paragraph (a), for “trustees or managers of a pension scheme” there is substituted “ person responsible for a pension arrangement ”,

(c)after that paragraph there is inserted—

(ab)make, in relation to payment under a mistaken belief as to the continuation in force of a provision included by virtue of section 25B or 25C above in an order under section 23 above, provision about the rights or liabilities of the payer, the payee or the person to whom the payment was due,

(d)after paragraph (b) there is inserted—

(ba)make provision for the person responsible for a pension arrangement to be discharged in prescribed circumstances from a requirement imposed by virtue of section 25B or 25C above,

(e)paragraphs (c) and (d) are omitted,

(f)for paragraph (e) there is substituted—

(e)make provision about calculation and verification in relation to the valuation of—

(i)benefits under a pension arrangement, or

(ii)shareable state scheme rights,

for the purposes of the court’s functions in connection with the exercise of any of its powers under this Part of this Act., and

(g)the words after paragraph (e) are omitted.

(4)After that subsection there is inserted—

(2A)Regulations under subsection (2)(e) above may include—

(a)provision for calculation or verification in accordance with guidance from time to time prepared by a prescribed person, and

(b)provision by reference to regulations under section 30 or 49(4) of the Welfare Reform and Pensions Act 1999.

(2B)Regulations under subsection (2) above may make different provision for different cases.

(2C)Power to make regulations under this section shall be exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(5)For subsections (3) and (4) there is substituted—

(3)In this section and sections 25B and 25C above—

  • occupational pension scheme” has the same meaning as in the M1Pension Schemes Act 1993;

  • the party with pension rights” means the party to the marriage who has or is likely to have benefits under a pension arrangement and “the other party” means the other party to the marriage;

  • pension arrangement” means—

    (a)

    an occupational pension scheme,

    (b)

    a personal pension scheme,

    (c)

    a retirement annuity contract,

    (d)

    an annuity or insurance policy purchased, or transferred, for the purpose of giving effect to rights under an occupational pension scheme or a personal pension scheme, and

    (e)

    an annuity purchased, or entered into, for the purpose of discharging liability in respect of a pension credit under section 29(1)(b) of the Welfare Reform and Pensions Act 1999 or under corresponding Northern Ireland legislation;

  • personal pension scheme” has the same meaning as in the Pension Schemes Act 1993;

  • prescribed” means prescribed by regulations;

  • retirement annuity contract” means a contract or scheme approved under Chapter III of Part XIV of the M2Income and Corporation Taxes Act 1988;

  • shareable state scheme rights” has the same meaning as in section 21A(1) above; and

  • trustees or managers”, in relation to an occupational pension scheme or a personal pension scheme, means—

    (a)

    in the case of a scheme established under a trust, the trustees of the scheme, and

    (b)

    in any other case, the managers of the scheme.

(4)In this section and sections 25B and 25C above, references to the person responsible for a pension arrangement are—

(a)in the case of an occupational pension scheme or a personal pension scheme, to the trustees or managers of the scheme,

(b)in the case of a retirement annuity contract or an annuity falling within paragraph (d) or (e) of the definition of “pension arrangement” above, the provider of the annuity, and

(c)in the case of an insurance policy falling within paragraph (d) of the definition of that expression, the insurer.

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Commencement Information

I1Sch. 4 para. 3 wholly in force at 1.12.2000; Sch. 4 para. 3 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 4 para. 3 in force at 1.12.2000 by S.I. 2000/1116, art. 2(e)

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