Statutory Instruments
Pensions
Made
17th December 2011
The Secretary of State for Work and Pensions makes the following Order in exercise of the powers conferred by section 38(4) and (5) of the Pensions Act 2011(1).
1.—(1) This Order may be cited as the Pensions Act 2011 (Commencement No. 1) Order 2011.
(2) In this Order, “the Act” means the Pensions Act 2011.
2. Section 20 of the Act (pension compensation: annual increases in periodic compensation) comes into force on 1st January 2012.
3. The following provisions of the Act come into force on 3rd January 2012—
(a)section 8 (review of earnings trigger and qualifying earnings band) in so far as it is not already in force,
(b)section 19 (indexation and revaluation),
(c)section 21 (indexation requirements for cash balance benefits),
(d)section 22 (Pension Protection Fund) in so far as it relates to the paragraphs of Schedule 4 specified in paragraph (i) of this article,
(e)sections 23 and 24 (financial assistance scheme: amount of payments and transfer of assets),
(f)section 26 (contribution notices and financial support directions),
(g)section 34 (judicial pensions),
(h)section 35 (grants by the Secretary of State to advisory bodies etc),
(i)the following paragraphs of Schedule 4 (Pension Protection Fund)—
(i)paragraph 1 (introductory provision for amendments to the Pensions Act 2004(2)) in so far as it relates to the paragraphs specified in sub-paragraphs (ii) to (v) of this paragraph,
(ii)paragraph 17 (removal of restriction on transfer notices),
(iii)paragraph 18 (Parliamentary control of subordinate legislation),
(iv)paragraphs 19 and 20 (pension credit members), and
(v)paragraph 37 (calculation of compensation: admissible rules etc), and
(j)Schedule 5 (contributions towards cost of judicial pensions etc).
4. The following provisions of the Act come into force on 6th April 2012—
(a)section 2(1) to (4), (9) and (10) (abolition of certain additions to the state pension),
(b)section 2(5) in so far as it provides for the repeal of the following paragraphs of Schedule 5 to the Social Security Contributions and Benefits Act 1992(3) (pension increase of lump sum where entitlement to retirement pension is deferred)—
(i)paragraph 5A(2)(b) and (3)(a),
(ii)paragraph 6(2)(b), (3)(c) and (4)(b),
(iii)paragraph 6A(2)(b), and
(iv)paragraph 7(1),
(c)section 2(6) in so far as it relates to the paragraphs of Schedule 2 (repeals and amendments consequential on section 2(5) of the Act) specified in paragraph (f) of this article,
(d)section 2(7) in so far as it relates to the repeals made by section 2(5) referred to in paragraph (b) of this article,
(e)section 2(8) in so far as it relates to the paragraphs of Schedule 2 specified in paragraph (f) of this article, and
(f)the following paragraphs of Schedule 2—
(i)paragraph 1 in so far as it relates to the paragraphs specified in sub-paragraphs (ii) to (iv) of this paragraph,
(ii)paragraph 3(1), in so far as it relates to paragraph 3(7) and (8),
(iii)paragraph 3(7) and (8), and
(iv)paragraph 4(a) and (d).
Signed by authority of the Secretary of State for Work and Pensions.
Steve Webb
Minister of State,
Department for Work and Pensions
17th December 2011
(This note is not part of the Order)
This Order brings into force certain provisions of the Pensions Act 2011 (c.19) (“the Act”) on 1st and 3rd January 2012 and 6th April 2012.
Article 2 brings into force section 20 of the Act on 1st January 2012. Section 20 relates to annual increases in periodic compensation paid by the Pension Protection Fund.
Article 3 brings the following provisions of the Act into force on 3rd January 2012—
section 8, which relates to automatic enrolment into a workplace pension scheme,
sections 19 and 21, which relate to annual increases to be made by certain occupational pension schemes,
section 22 and parts of Schedule 4, which relate to the Pension Protection Fund,
sections 23 and 24, which relate to the financial assistance scheme,
section 26, which relates to contribution notices and financial support directions issued by the Pensions Regulator,
section 34 and Schedule 5, which relate to judicial pensions, and
section 35, which relates to grants made by the Secretary of State to advisory bodies.
Article 4 brings into force parts of section 2 of, and Schedule 2 to, the Act on 6th April 2012. These provisions relate to the abolition of certain additions to the state pension.
A full impact assessment has not been produced for this Order as it has no impact on the private sector or civil society organisations.