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11(1)Paragraph 2 of Schedule 28 (scheme pensions) is amended as follows.
(2)Omit sub-paragraph (1) (special provisions for pension scheme with fewer than 50 members).
(3)In sub-paragraph (2) (pension scheme with 50 or more members), for “In the case of a pension scheme with 50 or more members, a” substitute “A”.
(4)In sub-paragraph (3)(b) (no reduction in rate of pension)—
(a)for “in respect of any” substitute “at any time during any”, and
(b)for “in respect of the previous 12 month period” substitute “at the relevant time”.
(5)After that sub-paragraph insert—
“(3A)“The relevant time” is—
(a)in the case of the first relevant 12 month period, the day on which the member becomes entitled to the pension, and
(b)in the case of any other relevant 12 month period, immediately before the beginning of that period.”
(6)In sub-paragraph (4) (things not preventing condition in sub-paragraph (3) being satisfied), omit “or” at the end of paragraph (b) and insert at the end—
“(d)the reduction of the pension in consequence of a pension sharing order or provision,
(e)forfeiture of entitlement to the pension in circumstances prescribed by regulations made by the Board of Inland Revenue,
(f)the reduction of the pension in consequence of an order of a court,
(g)if the pension is under a public service pension scheme, its reduction by abatement, or
(h)the reduction of the pension in any other circumstances prescribed by regulations made by the Board of Inland Revenue.”
(7)After that sub-paragraph insert—
“(4A)In sub-paragraph (4) references to the reduction of a pension include its ceasing to be payable (whether temporarily or permanently).”
(8)After sub-paragraph (6) insert—
“(6A)The Board of Inland Revenue may by regulations provide that if—
(a)a scheme pension payable by an insurance company selected by the scheme administrator of a registered pension scheme (“the original scheme pension”) ceases to be payable, and
(b)in consequence of the transfer of sums or assets (or both) from the insurance company to another insurance company in connection with the original scheme pension ceasing to be payable, another scheme pension becomes payable by the other insurance company (“the new scheme pension”),
the new scheme pension is to be treated, to such extent as is prescribed by the regulations and for such of the purposes of this Part as are so prescribed, as if it were the original scheme pension.”
(9)Insert at the end—
“(8)Regulations under sub-paragraph (4)(e) and (h) may include provision having effect in relation to times before they are made.”
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