The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) Order 2011

Amendment of the Pension Protection Fund (General and Miscellaneous Amendments) Regulations 2006

22.—(1) The Pension Protection Fund (General and Miscellaneous Amendments) Regulations 2006(1) are amended as follows.

(2) In regulation 1(2) (interpretation), omit the definition of “appropriate personal pension scheme”.

(3) In regulation 7 (manner of discharge of liabilities in respect of money purchase benefits)—

(a) in paragraph (1)—

(i) omit “(or in the case of protected rights, given effect to)”, and

(ii) for sub-paragraph (a) substitute—

“(a) a transfer payment to a personal pension scheme or an occupational pension scheme;”, and

(b) omit paragraphs (2) and (3).

(4) For regulation 8(5) (further provision for discharge of liabilities in respect of money purchase benefits), substitute—

“(5) Where the money purchase beneficiary dies before the Board discharges those liabilities in relation to that beneficiary, the Board shall discharge those liabilities—

(a) where there is a widow, widower or surviving civil partner, under the rules of the scheme within the limits specified in regulation 7(1); or

(b) where there is no widow, widower or surviving civil partner, in accordance with paragraph 15 of Schedule 29 to the 2004 Act (uncrystallised funds lump sum death benefit).”

(1)

S.I. 2006/580.