Section 24: Quality requirement: UK hybrid schemes
Hybrid schemes have a mix of defined benefits and money purchase elements. In order to qualify they will be required to satisfy the quality requirement for either money purchase schemes (section 20) or defined benefits schemes (sections 21 to 23). The quality requirements set out in subsections (1)(a) and (1)(b), which are those for money purchase schemes and defined benefits schemes, respectively, can be modified by regulations in their application to certain hybrid schemes.
Employers will be directed to the quality requirement they should use for a hybrid scheme in rules made by the Department (subsection (2)).
