PART 1PENSION SCHEME MEMBERSHIP FOR JOBHOLDERS
CHAPTER 1EMPLOYERS' DUTIES
Transitional
I129Transitional periods for money purchase and personal pension schemes
1
During the first transitional period for money purchase and personal pension schemes—
a
sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “
1%
”
;
b
sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “
2%
”
.
2
The first transitional period is a prescribed period of at least one year, beginning with the coming into operation of section 20.
3
During the second transitional period for money purchase and personal pension schemes—
a
sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “
2%
”
;
b
sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “
5%
”
.
4
The second transitional period is a prescribed period of at least one year, beginning with the end of the first transitional period.