Pension Schemes Act 1993 (c. 48)

Part III Certification of Pension Schemes and Effects on Members' State Scheme Rights and Duties

Chapter II Reduction in state scheme contributions and Social Security benefits for members of certified schemes

Preliminary

40 Scope of Chapter II

This Chapter has effect for the purpose—

(a) of reducing the rates at which certain national insurance contributions are payable by or in respect of earners whose employment is contracted-out by reference to contracted-out occupational pension schemes;

(b) of providing for contributions to be paid by the Secretary of State in respect of earners who are members of appropriate personal pension schemes; and

(c) of making provision concerning the payment of certain social security benefits payable in respect of members and former members of such schemes.