Pension Schemes Act 2015

Prospective

Section 40

SCHEDULE 1E+W+SEarly leavers: revaluation of accrued benefits

This Atodlen has no associated Nodiadau Esboniadol

F11E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F12E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F14E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F15E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F16E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

8E+W+SIn Schedule 3 to that Act (revaluation methods), before paragraph 1 insert—

“The default methodE+W+S

A1The default method is to revalue the benefits in any way in which they would have been revalued if—

(a)in the case of an occupational pension scheme, the member's pensionable service had not terminated, or

(b)in the case of a personal pension scheme, contributions in respect of the member had not ceased to be paid.”

9E+W+SOmit paragraphs 3A and 4 of that Schedule.

10E+W+SIn paragraph 5(1) of that Schedule, for “if his pensionable service had not terminated” substitute “if—

(a)in the case of an occupational pension scheme, the member's pensionable service had not terminated, or

(b)in the case of a personal pension scheme, contributions in respect of the member had not ceased to be paid.”

11E+W+SOmit the following, which are no longer needed given the earlier provisions of this Schedule—

(a)paragraph 31(3) of Schedule 12 to the Welfare Reform and Pensions Act 1999;

(b)section 19(1) to (3) of the Pensions Act 2011.