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Occupational Pension Schemes (Contracting-out) Regulations 1996

Status:

This is the original version (as it was originally made).

  1. Introductory Text

  2. PART I PRELIMINARY

    1. 1.Citation, commencement and interpretation.

  3. PART II CERTIFICATION OF EMPLOYMENTS

    1. 2.Making of elections for the issue of contracting-out certificates

    2. 3.Notices by employers of intended election.

    3. 4.Consultation with trade unions.

    4. 5.Time for making an election.

    5. 6.Information to be included in an election.

    6. 7.Amendment of an election.

    7. 8.Issue of contracting-out certificates.

    8. 9.Making of elections by employers for the variation or surrender of contracting-out certificates.

    9. 10.Special provision with regard to elections for the issue, variation or surrender of certificates where the employment remains contracted-out.

    10. 11.Special circumstances in which the Secretary of State may determine earners to have been in contracted-out employment

    11. 12.Special provision for holding companies and subsidiaries

    12. 13.Special provision for public service pension schemes.

    13. 14.Special provision for holders of pensionable judicial office.

    14. 15.Further information and change of circumstances.

    15. 16.Requirement to confirm relevant requirements are satisfied.

  4. PART III SALARY-RELATED CONTRACTED-OUT SCHEMES

    1. 17.Further contracting-out conditions for salary-related contracted-out schemes

    2. 18.Requirement as to resources of the scheme.

    3. 19.Lump sum benefits and salary-related contracted-out schemes.

    4. 20.Trivial commutation of benefits derived from section 9(2B) rights.

    5. 21.Payable age in salary-related contracted-out schemes.

    6. 22.Each part of scheme to comply with section 12A of the 1993 Act.

    7. 23.Requirements for meeting the statutory standard.

    8. 24.Circumstances when actuary other than actuary appointed under section 47 of the 1995 Act may certify broad equivalence.

    9. 25.Requirements for a reference scheme.

    10. 26.Reference scheme: circumstances in which widows' or widowers' pensions need not be payable.

    11. 27.Modification applying to public service pension schemes.

    12. 28.Service in a salary-related contracted-out scheme that does not qualify for further benefits

    13. 29.Schemes which cannot be certified under section 9(2B) of the 1993 Act.

  5. PART IV MONEY PURCHASE CONTRACTED-OUT SCHEMES

    1. 30.Further contracting-out requirements for money purchase contracted-out schemes

    2. 31.Deduction of minimum payments from earnings.

    3. 32.Minimum payments to be made by employers to trustees.

    4. 33.Calculation of minimum payments.

    5. 34.Manner of calculation or estimation of earnings.

    6. 35.Manner of payment of the age-related payment.

    7. 36.Verification of age.

    8. 37.Circumstances in which the age-related payments are not to be paid.

    9. 38.Adjustment of the amount of the age-related payment.

    10. 39.Circumstances in which schemes may change mode of contracting-out.

    11. 40.Schemes which may not be contracted-out under section 9(3) of the 1993 Act.

  6. PART V FURTHER REQUIREMENTS (ALL SCHEMES) AND OVERSEAS SCHEMES

    1. 41.Provision of information as to resources.

    2. 42.Alteration of rules of contracted-out schemes.

    3. 43.Termination of periods of contracted-out employment.

    4. 44.Notifications to the Secretary of State.

    5. 45.Approval of arrangements for schemes ceasing to be contracted-out.

    6. 46.Supervision of schemes that have ceased to contract out.

    7. 47.Circumstances in which the Secretary of State may vary or cancel a contracting-out certificate.

    8. 48.Special provision for overseas schemes.

  7. PART VI RESTORATION OF STATE SCHEME RIGHTS

    1. 49.Insolvent schemes.

    2. 50.Member to be informed of the option to restore state scheme rights.

    3. 51.Election to pay a contributions equivalent premium

    4. 52.Payment of a contributions equivalent premium.

    5. 53.Payment in lieu of benefit and delay in refund for the purposes of employer’s right of recovery.

    6. 54.Refund of a contributions equivalent premium.

  8. PART VII GUARANTEED MINIMUM PENSIONS

    1. 55.Scheme rules about guaranteed minimum pensions

    2. 56.Special provision for revaluation of guaranteed minimum pensions secured by insurance policies or annuity contracts.

    3. 57.Circumstances in which widower’s guaranteed minimum pension is to be payable.

    4. 58.Period for which widower’s guaranteed minimum pension is to be payable.

    5. 59.Statutory references to persons entitled to guaranteed minimum pensions application to widowers.

    6. 60.Trivial commutation of guaranteed minimum pensions.

    7. 61.Suspension and forfeiture of guaranteed minimum pensions.

    8. 62.Fixed rate revaluation of guaranteed minimum pensions for early leavers.

    9. 63.Provision of information about guaranteed minimum pensions.

    10. 64.Meaning of expression “connected employer”.

    11. 65.Modification of section 16 of the 1993 Act.

    12. 66.Circumstances in which the modifications to the 1993 Act set out in regulation 65 apply.

    13. 67.Modification of section 51(1) of the 1993 Act in relation to revaluation and schemes which have ceased to be contracted-out.

    14. 68.Additional modifications relating to transfers and increases of earnings factors by 12 per cent..

    15. 69.Miscellaneous provisions affecting section 51 of the 1993 Act.

  9. PART VIII TRANSITIONAL ARRANGEMENTS AND SAVINGS

    1. 70.Transitional arrangements for certification of schemes.

    2. 71.Elections for replacement certificates by salary-related schemes during transitional period.

    3. 72.Transitional requirements as to sufficiency of resources of salary-related schemes.

    4. 73.Transitional arrangements and savings for salary-related schemes which have begun winding up before the principal appointed day.

    5. 74.Transitional arrangements in relation to the powers of the Secretary of State to approve arrangements for schemes ceasing to contract out before the principal appointed day.

    6. 75.Transitional modifications to sections 35 and 36 of the 1993 Act.

    7. 76.Prevention of recovery by employers of Class 1 contributions where certificate cancelled under section 36(3) of the 1993 Act.

    8. 77.Savings in respect of State Scheme Premiums.

  10. PART IX REVOCATIONS

    1. 78.Revocations.

  11. Signature

  12. SCHEDULES

    1. 1

      Provisions conferring powers exercised in making these Regulations

    2. 2

      Revocations

  13. Explanatory Note

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