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The Pensions Act 2011 (Commencement No. 5) Order 2014

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Statutory Instruments

2014 No. 1683 (C. 71)

Pensions

The Pensions Act 2011 (Commencement No. 5) Order 2014

Made

30th June 2014

The Secretary of State for Work and Pensions makes the following Order in exercise of the power conferred by section 38(4) of the Pensions Act 2011(1).

Citation

1.  This Order may be cited as the Pensions Act 2011 (Commencement No. 5) Order 2014.

Commencement of provision

2.  Section 29 of the Pensions Act 2011 (definition of money purchase benefits) comes into force on 24th July 2014.

Signed by authority of the Secretary of State for Work and Pensions.

Steve Webb

Minister of State,

Department for Work and Pensions

30th June 2014

EXPLANATORY NOTE

(This note is not part of the Order)

This Order brings into force section 29 of the Pensions Act 2011 (c. 19) on 24th July 2014. Section 29 inserts new section 181B into the Pension Schemes Act 1993 (c. 48), which supplements the definition of ‘money purchase benefits’ in section 181 of that Act, with retrospective effect to 1st January 1997. Section 29 also inserts new section 99A into the Pensions Act 2008 (c. 30), which supplements the definition of ‘money purchase benefits’ in section 99 of that Act, with retrospective effect to 5th July 2010. Section 29 further amends the definition of ‘money purchase benefits’ in paragraph 1(2) of Schedule 10A to the Building Societies Act 1986 (c. 53).

A full impact assessment has not been prepared for this Order as no impact on the private, public or voluntary sectors is foreseen.

NOTE AS TO EARLIER COMMENCEMENT ORDERS

(This note is not part of the Order)

The following provisions of the Pensions Act 2011 were brought into force by Statutory Instrument before this Order was made.

ProvisionDate of CommencementS.I. No.
Section 2 (partially)6th April 20122011/3034
Section 4 (partially)30th June 20122012/1681
Section 530th June 20122012/1681
Section 6 (partially)30th June 20122012/1681
Section 83rd January 20122011/3034
Section 96th March 20122012/682
Section 11 (partially)30th June 20122012/1681
Section 126th March 20122012/682
Section 136th March 20122012/682
Section 14 (partially)30th June 20122012/1681
Section 15 (partially)30th June 20122012/1681
Section 1630th June 20122012/1681
Section 1730th June 20122012/1681
Section 193rd January 20122011/3034
Section 201st January 20122011/3034
Section 213rd January 20122011/3034
Section 22 (partially)3rd January 20122011/3034
Section 22 (partially)23rd July 20122012/1681
Section 22 (partially)13th March 20132013/585
Section 233rd January 20122011/3034
Section 243rd January 20122011/3034
Section 263rd January 20122011/3034
Section 343rd January 20122011/3034
Section 353rd January 20122011/3034
Section 3630th June 20122012/1681
Schedule 2 (partially)6th April 20122011/3034
Schedule 4 (partially)3rd January 20122011/3034
Schedule 4 (partially)23rd July 20122012/1681
Schedule 4 (partially)13th March 20132013/585
Schedule 53rd January 20122011/3034

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