- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
5. In regulation 6(3), for “his 65th birthday” substitute “the day before his 75th birthday”.
6. In regulation 9, omit paragraph (1A).
7. After regulation 11, insert—
“11A.—(1) This regulation applies where a member’s pay (calculated in accordance with regulation 13) in the year ending 5th April 2006 exceeds £105,600.
(2) In such a case, his period of membership for calculating his entitlement to any benefits payable under these Regulations is obtained by aggregating his period of membership after that date with the period obtained by applying the formula set out in paragraph (3).
(3) That formula is M times 105,600 divided by P, where M is his period of membership after 5th April 1989 and before 6th April 2006 (excluding any membership credited by virtue of a transfer under regulation 121) and P is his pay as mentioned in paragraph (1).”
8.—(1) Omit regulation 15.
(2) Where, before its omission by paragraph (1), a member’s liability to make contributions to the Scheme has been reduced or, as the case may be, extinguished in accordance with regulation 15, his employing authority may recover any such contributions as would have otherwise have been made.
9. Omit regulation 16.
10. After regulation 19 insert—
19A.—(1) A member and any dependant of his shall not be entitled, under any provision of these Regulations, to receive benefits the capital value of which exceeds his lifetime allowance increased, where applicable, by his primary protection or enhanced protection.
(2) In this regulation, “lifetime allowance”, “primary protection” and “enhanced protection” are to be construed in accordance with section 218 of, and Schedule 36 to, the Finance Act 2004(1).
(3) Any calculation of the capital value of a member’s benefits is to be carried out in accordance with guidance issued by the Government Actuary.
(4) The appropriate administering authority is responsible for deducting from any payments of benefits under the Scheme any tax to which they may become chargeable under the Finance Act 2004.”
11. For regulation 20(4A) substitute—
“(4A) Where no benefit crystallisation event has occurred before the day after a member’s 65th birthday in respect of any benefits payable under the Scheme, those benefits shall be increased at such a rate as is shown as appropriate in guidance issued by the Government Actuary.”.
12. In regulation 21(1), omit the words “and Schedule 4”.
13. For regulation 25A(2) substitute—
“(2) The pension and retirement grant are payable immediately on retirement or, if earlier, on the day before the member’s 75th birthday.”.
14.—(1) In regulation 31(7), at the beginning insert “Subject to paragraph (7A)”.
(2) After regulation 31(7), insert—
“(7A) A member who continues to be employed by a Scheme employer listed in Schedule 2 is only entitled to receive a pension and grant without reduction payable from his NRD if his employer consents to his doing so.”.
15. In regulation 32, omit sub-paragraphs (a) and (b) of paragraph (2).
16. Omit regulation 33.
17.—(1) After regulation 35(1) insert—
“(1A) But where, after 5th April 2006, a member who has attained the age of 50, with his employer’s consent, reduces the hours he works, or the grade in which he is employed, he may elect in writing to the appropriate administering authority and such benefits may be paid to him notwithstanding that he has not retired from that employment.
(1B) If the payment of benefits referred to in paragraph (1A) takes effect before the member’s 65th birthday, the benefits payable are reduced in accordance with guidance issued by the Government Actuary.
(1C) But the employer may choose to waive, in whole or in part, any such reduction.
(1D) Where the employer so chooses, it shall pay to the fund the cost incurred as a result of such waiver as calculated by the fund’s actuary.
(1E) Any benefits paid following an election under paragraph (1A) are not subject to abatement under regulation 110 in respect of any subsequent employment with the person who is his employer at the date of his election.”
(2) In paragraph (2), for “But they” substitute “In any event, retirement benefits under this Chapter”.
18. In regulation 36, omit paragraphs (7), (8) and (9).
19. In regulation 41(6), after “death” insert “or half his pension before any commutation under regulation 20(3A), whichever is the greater”.
20. In regulation 44—
(a)at the beginning of paragraph (2) insert “Subject to paragraph (2A)”; and
(b)after paragraph (2) insert—
“(2A) Notwithstanding paragraph (2)(b), a pension coming into payment on or after 5th April 2006 which would otherwise be payable by virtue of that paragraph shall only continue while the child is aged under 23.”.
21.—(1) After regulation 50(1) insert—
“(1A) An administering authority cannot be satisfied as mentioned in paragraph (1) unless they have first obtained a certificate from a fully registered person within the meaning of the Medical Act 1983(2) to the effect that the member’s life expectancy is less than one year.”.
(2) In regulation 50(2), omit the words “(except the guaranteed minimum)”.
(3) Omit regulation 50(3).
22. In regulation 51, omit paragraph (2).
23. In regulation 52—
(a)at the end of sub-paragraph (2)(a) insert “or”;
(b)omit sub-paragraph (2)(b); and
(c)after paragraph (10) insert—
“(11) An additional period arising from a resolution under this regulation on or after 1st October 2006 shall be treated as a period of membership after that date.”.
24. Omit regulation 54.
25. For regulation 55(2) substitute—
“(2) That period must not exceed 6⅔ years.”.
26. Omit regulation 57.
27. Omit regulation 58.
28. Omit regulation 59.
29.—(1) Regulation 76 is renumbered “76(1)”.
(2) After regulation 76(1) (as so renumbered in accordance with paragraph (1)) insert—
“(2) The input period for the purposes of section 238 of the Finance Act 2004 is the year ending 31st March 2007 and each year ending 31st March thereafter.”.
30. Omit regulation 85.
31. For regulation 93(2)(b) substitute—
“(b)otherwise, unless he elects to defer payment, with his NRD (but any such deferral shall not extend beyond the day before his 75th birthday).”.
32. After regulation 96 insert—
“96A. Any payment of employment-related benefits made to a member by an administering authority other than in accordance with regulations made under section 7 of the Superannuation Act 1972 shall be treated as if it had been made under the Scheme.”.
33. In regulation 97(6) —
(a)at the end of sub-paragraph (b), insert “and”;
(b)in sub-paragraph (c), for “membership; and” substitute “membership.”; and
(c)omit sub-paragraph (d).
34. In Schedule 1—
(a)after the definition of “Base rate” insert—
““Benefit crystallisation event” shall be construed in accordance with section 216 of the Finance Act 2004.”,
(b)omit the definitions of “Class A member”, “Class B member” and “Class C member”, and
(c)omit the definition of “Continuity conditions”.
35. In the Table in Schedule 3—
(a)in paragraph 1, in the second column, omit the words “or paragraph 2, 4, 5 or 6(1) of Schedule 4”; and
(b)omit paragraphs 4 and 5.
36. Omit Schedule 4.
37. In Schedule 8—
(a)omit paragraph 1;
(b)omit paragraph 3;
(c)omit paragraph (3) of regulation 20 as substituted by paragraph 5, and substitute “65” for “70” in paragraph (5) as so substituted;
(d)for paragraph 7, substitute—
“In regulation 25A(1) omit the words “with the consent of his employing authority”.”;
(e)in paragraph 9, omit sub-paragraph (b) and the word “and” immediately preceding it;
(f)in paragraph 10, omit sub-paragraph (a);
(g)omit paragraph 12;
(h)omit paragraph (5)(b) of regulation 38 as substituted by paragraph 15; and
(i)omit paragraph 19.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: