C3C4C6Part IV Pension sharing

Annotations:
Modifications etc. (not altering text)
C4

Pts. I-IV: power to modify conferred (6.4.2006) by Pensions Act 2004 (c. 35), ss. 321(1)(d), 322(1); S.I. 2006/560, art. 2(3), Sch. Pt. 3

C6

Pts. I-IV: power to modify conferred (26.11.2008) by Pensions Act 2008 (c. 30), ss. 146(2)(c), 149(2)

C2C5Chapter I Sharing of rights under pension arrangements

Annotations:
Modifications etc. (not altering text)
C2

Pt. IV Ch. I power to apply (with modifications) conferred (1.1.2006) by Pensions Act 2004 (c. 35), ss. 220(2), 322(1) (with s. 313); S.I. 2005/3331, art. 2(3), Sch. Pt. 3

Pension credits

C1I134“Implementation period”.

1

For the purposes of this Chapter, the implementation period for a pension credit is the period of 4 months beginning with the later of—

a

the day on which the relevant order or provision takes effect, and

b

the first day on which the person responsible for the pension arrangement to which the relevant order or provision relates is in receipt of—

i

the relevant F1... documents, and

ii

such information relating to the transferor and transferee as the Secretary of State may prescribe by regulations.

2

The reference in subsection (1)(b)(i) to the relevant F2... documents is to copies of—

a

the relevant order or provision, and

b

the order, decree or declarator responsible for the divorceF3, dissolution or annulment to which it relates,

and, if the pension credit depends on provision falling within subsection (1)(f) of section 28, to documentary evidence that the agreement containing the provision is one to which subsection (3)(a) of that section applies.

3

Subsection (1) is subject to any provision made by regulations under section 41(2)(a).

4

The Secretary of State may by regulations—

a

make provision requiring a person subject to liability in respect of a pension credit to notify the transferor and transferee of the day on which the implementation period for the credit begins;

b

provide for this section to have effect with modifications where the pension arrangement to which the relevant order or provision relates is being wound up;

c

provide for this section to have effect with modifications where the pension credit depends on a pension sharing order and the order is the subject of an application for leave to appeal out of time.

5

In this section—

  • “relevant order or provision”, in relation to a pension credit, means the pension sharing order or provision on which the pension credit depends;

  • “transferor” means the person to whose rights the relevant order or provision relates;

  • “transferee” means the person for whose benefit the relevant order or provision is made.