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The Occupational Pension Schemes (Preservation of Benefit) Amendment Regulations 1993
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- 1993 No. 1822
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations further amend the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 by substituting new paragraphs (3), (4) and (4A) for paragraphs (3) and (4) of regulation 12 and by making a consequential deletion from paragraph (5) of that regulation.
The new paragraphs vary the condition subject to which an actuary may certify that there may be a bulk transfer of members from one scheme to another without their consent. The principal change relates to the treatment, by the new scheme, of benefits that were discretionary in the transferring scheme.
The report of the Occupational Pensions Board on the draft of these Regulations which was referred to them, together with a statement showing that the Regulations give effect in substance to the Board’s recommendations, are contained in Command Paper No. 2284 published by Her Majesty’s Stationery Office.
These Regulations do not impose a charge on business.
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