The Teachers' Pensions (Sharing of Pensions on Divorce or Annulment) Regulations 2000

Regulation 3(2)

SCHEDULE 5 FURTHER AMENDMENTS TO THE 1994 REGULATIONS

1.  In regulation 2(2) after the words “Income and Corporation Taxes Act 1988,” there shall be inserted the words “references to the 1999 Act are references to the Welfare Reform and Pensions Act 1999”.

2.  In regulation 2(3) there shall be inserted in the appropriate places in alphabetical order the following definitions—

“the AVC Scheme” means the occupational pension scheme (within the meaning of section 1 of the Pension Schemes Act 1993) established under section 9 of the Superannuation Act 1972 and these Regulations;

“pension credit” means a credit under section 29(1)(b) of the 1999 Act or under corresponding Northern Ireland legislation;

“pension credit benefits” means in relation to the AVC Scheme the benefits payable under that Scheme which are attributable (directly or indirectly) to a pension credit;

“pension credit member” means a person who has rights under the AVC Scheme which are attributable (directly or indirectly) to a pension credit either solely or wholly separately from any other rights under the AVC Scheme;

“pension debit” means a debit under section 29(1)(a) of the 1999 Act or under corresponding Northern Ireland legislation;

“pension debit member” means a person who has rights under the AVC Scheme and whose shareable rights under that Scheme are subject to a pension debit;

“pension sharing order” means a pension sharing order or other provision referred to in section 28(1) of the 1999 Act or Article 25(1) of the Welfare Reform and Pensions (Northern Ireland) Order 1999;

“shareable rights” means any rights a person has under the AVC Scheme except those rights referred to in regulation 2 of the Pension Sharing (Valuation) Regulations 2000.(1)

3.  At the end of regulation 11 there shall be inserted the following paragraph–

“(3) The Secretary of State may pay a transfer value representing the value of a person’s pension credit or of investments made under regulation 13A(2) in the circumstances of Chapter II of Part IVA of the Pension Schemes Act 1993(2) and regulations made under that Chapter(3).”.

4.  In regulation 12(11) the words “arising from the participator’s service” shall be deleted.

(1)

S.I. 2000/1052. See the Welfare Reform and Pensions Act 1999, section 27(2).

(2)

Part IVA was inserted into the Pension Schemes Act 1993 by section 37 of the Welfare Reform and Pensions Act 1999.

(3)

See Part III of the Pension Sharing (Pension Credit Benefit) Regulations 2000, S.I. 2000/1054.