Contracting-out conditions: age at which pension or annuity is to commence under a money purchase scheme
6(1)In section 32 of the Pensions Act, in subsection (2B) (modifications of Schedule 1 to the 1986 Act in its application for the purpose of determining whether a money purchase scheme can be contracted-out) after paragraph (d)(ii) there shall be inserted—
“(iii)for the references in sub-paragraphs (3)(a) and (7)(a)(i) to the date on which the member attains pensionable age there shall be substituted a reference to a date not earlier than that on which he attains the age of 60 nor later than that on which he attains the age of 65; and”.
(2)The amendment made by sub-paragraph (1) above shall be taken to have come into force on 17th May 1990.