SCHEDULE 2Transitional provisions

PART 3Exceptions to section 18(1) of the Act: tapered protection members of an existing scheme

Member of an existing scheme on scheme closing date12

1

A person (P) is a tapered protection member of an existing scheme if sub-paragraph (2) or sub-paragraph (3) applies—

2

This sub-paragraph applies if—

a

P was an active member of an existing scheme on 31st March 2012;

b

P was an active member of an existing scheme on the scheme closing date; and

c

unless P dies, P would reach normal pension age during the period beginning with 2nd April 2022 and ending with 1st September 2025.

3

This sub-paragraph applies if—

a

P was an active member of an existing scheme (“P's transitional scheme”) on 31st March 2012;

b

P was an active member of an existing scheme (“Scheme A”) on the scheme closing date; and

c

P would, unless P dies, reach normal pension age under—

i

Scheme A during the period beginning with 2nd April 2022 and ending with 1st September 2025; and

ii

P's transitional scheme on or before 1st September 2025.