4.—(1) The Occupational Pension Schemes (Contracting-out) Regulations 1996 M1 are amended as follows.
(2) In regulation 1(2) (interpretation) M2 in the definition of “overseas scheme” omit “or (3)”.
(3) In regulation 3(2)(g)(i) (notices by employers of intended election) M3, omit “whether the employment would be contracted-out by reference to a salary-related or money purchase contracted-out scheme and”.
(4) Omit regulation 6(4) (information to be included in an election).
(5) In regulation 9(3)(b) (making of elections by employers for the variation or surrender of contracting-out certificates), omit “in the case of a money purchase contracted-out scheme, the protected rights under, or in the case of any other scheme,”.
(6) In regulation 10(1)(a) (special provision with regard to elections for the issue, variation or surrender of certificates where the employment remains contracted-out) omit “or for protected rights, as the case may be,”.
(7) In regulation 16 (requirement to confirm relevant requirements are satisfied), omit paragraph (1)(b).
(8) Omit regulation 30 (further contracting-out requirements for money purchase contracted-out schemes).
(9) In regulation 31(3)(a) (deduction of minimum payments from earnings) M4 after “section 42B of the 1993 Act” insert “ as it had effect immediately prior to the abolition date ”.
(10) In regulation 32(1) (minimum payments to be made by employers to trustees)—
(a)for “section 8(1)” substitute “ section 8(1A) ”, and
(b)for “employment is contracted-out” substitute “ employment was contracted-out ”.
(11) Omit regulations 39 (circumstances in which schemes may change mode of contracting-out) and 40 (schemes which may not be contracted-out under section 9(3) of the 1993 Act).
(12) In regulation 42 (alteration of rules of contracted-out schemes) M5—
(a)in paragraph (1), omit “, (2A)”,
(b)omit paragraph (2A), and
(c)for paragraph (2B)(c), substitute—
“(c)otherwise prevent the scheme from satisfying section 9(2) of that Act.”
(13) In regulation 43 (termination of periods of contracted-out employment)—
(a)in paragraph (3)(a)(iii), omit from the words “or, as the case may be” to the end, and
(b)in paragraph (5)(a), for the words “, section 9(2B) rights or protected” substitute “ or section 9(2B) ”.
(14) In regulation 45(2) (approval of arrangements for schemes ceasing to be contracted-out) omit “, section 28(2)(b) and (3) of that Act (transfer of protected rights)”.
(15) Omit regulation 48(6) (special provision for overseas schemes).
(16) In regulation 49 (insolvent schemes) M6—
(a)omit paragraph (3)(a), and
(b)for paragraph (4)(a) substitute—
“(a)in the case of a scheme to which Part 3 of the 2004 Act applies (scheme funding), the cash equivalent of a member's rights under the scheme shall be determined as if the requirements of section 222(1) of that Act were satisfied;”.
(17) In regulation 62(3) (fixed rate revaluation of guaranteed minimum pensions for early leavers)—
(a)omit “or section 28 (ways of giving effect to protected rights)”, and
(b)for “those provisions” substitute “ that provision ”.
Marginal Citations
M1S.I. 1996/1172. See also section 1(2) of, and Schedule 2 to, the Social Security Contributions (Transfer of Functions, etc) Act 1999 (c.2) (“the 1999 Act”) which transferred to the Commissioners of Inland Revenue the functions of the Secretary of State under these Regulations.
M2The definition of “overseas scheme” was substituted by S.I. 2007/814, and amended by S.I. 2007/3014.
M3The relevant amending instrument is S.I. 2002/681.
M4The relevant amending instruments are S.I. 2002/681.
M5Paragraphs (2A) and (2B) were inserted by S.I. 1997/786.
M6The relevant amending instruments are S.I. 2005/3377 and 2008/1903.