SCHEDULES
SCHEDULE 13Abolition of contracting-out for salary related schemes
Part 1Pension Schemes Act 1993: amendments
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In section 37 (alteration of rules of contracted-out schemes) for subsections (1) to (3) substitute—
1
Except in prescribed cases, the rules of a scheme that was a salary related contracted-out scheme cannot be altered unless the alteration is of a prescribed description.
2
Regulations made by virtue of subsection (1) may operate so as to validate with retrospective effect any alteration of the rules which would otherwise be void under this section.
3
Subsection (1) does not apply to a scheme if no person is entitled to receive, or has accrued rights to, any benefits under the scheme attributable to a period when the scheme was contracted-out.