Amendment of the Occupational Pension Schemes (Scheme Funding) Regulations 20055
1
Amend the Occupational Pension Schemes (Scheme Funding) Regulations 20058 as follows.
2
In regulation 8 (recovery plan), omit paragraph (8).
3
In regulation 17 (exemptions – general)—
a
in paragraph (1)(l), for “subject to regulation 18” substitute “subject to paragraph (1A) and regulation 18”;
b
after paragraph (1) insert—
1A
Section 231A of the 2004 Act applies to a scheme where—
a
a recovery plan has been prepared under section 226 of the 2004 Act, and
b
the scheme begins to wind up during the recovery period.
4
after paragraph (2) insert—
2A
In paragraph (1A) “recovery period” means the period specified in the scheme’s recovery plan in accordance with section 226(2)(b) of the 2004 Act;