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The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016
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Amendment of the Occupational Pension Schemes (Winding Up) Regulations 1996
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9.—(1) The Occupational Pension Schemes (Winding Up) Regulations 1996(1) are amended as follows.
(2) In regulation 8 (requirements to be satisfied by transferee schemes, annuities etc.)—
(a)in paragraph (5), before “contracted-out scheme” insert “scheme that was a”; and
(b)for paragraph (7)(a)(2), substitute—
“(a)regulation 18 or 25 of the Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 2015 (payment of a lump sum instead of a pension);”.
(3) In regulation 10(3) (disapplication of section 38) in the definition of “relevant lump sum retirement benefits scheme”, in paragraph (b), for “is not contracted-out” substitute “was not contracted-out at any time before the second abolition date”.
(1)
(2)
Paragraphs (6) to (10) were inserted by S.I. 2005/706. Paragraph (7) was amended by S.I. 2009/615.
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