Statutory Instruments
Pensions
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).
1. This Order may be cited as the Pensions Act 2011 (Commencement No. 5) Order 2014.
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
(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.
(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.
| Provision | Date of Commencement | S.I. No. |
|---|---|---|
| Section 2 (partially) | 6th April 2012 | 2011/3034 |
| Section 4 (partially) | 30th June 2012 | 2012/1681 |
| Section 5 | 30th June 2012 | 2012/1681 |
| Section 6 (partially) | 30th June 2012 | 2012/1681 |
| Section 8 | 3rd January 2012 | 2011/3034 |
| Section 9 | 6th March 2012 | 2012/682 |
| Section 11 (partially) | 30th June 2012 | 2012/1681 |
| Section 12 | 6th March 2012 | 2012/682 |
| Section 13 | 6th March 2012 | 2012/682 |
| Section 14 (partially) | 30th June 2012 | 2012/1681 |
| Section 15 (partially) | 30th June 2012 | 2012/1681 |
| Section 16 | 30th June 2012 | 2012/1681 |
| Section 17 | 30th June 2012 | 2012/1681 |
| Section 19 | 3rd January 2012 | 2011/3034 |
| Section 20 | 1st January 2012 | 2011/3034 |
| Section 21 | 3rd January 2012 | 2011/3034 |
| Section 22 (partially) | 3rd January 2012 | 2011/3034 |
| Section 22 (partially) | 23rd July 2012 | 2012/1681 |
| Section 22 (partially) | 13th March 2013 | 2013/585 |
| Section 23 | 3rd January 2012 | 2011/3034 |
| Section 24 | 3rd January 2012 | 2011/3034 |
| Section 26 | 3rd January 2012 | 2011/3034 |
| Section 34 | 3rd January 2012 | 2011/3034 |
| Section 35 | 3rd January 2012 | 2011/3034 |
| Section 36 | 30th June 2012 | 2012/1681 |
| Schedule 2 (partially) | 6th April 2012 | 2011/3034 |
| Schedule 4 (partially) | 3rd January 2012 | 2011/3034 |
| Schedule 4 (partially) | 23rd July 2012 | 2012/1681 |
| Schedule 4 (partially) | 13th March 2013 | 2013/585 |
| Schedule 5 | 3rd January 2012 | 2011/3034 |