Interpretation of Part IV23

• “occupational pension scheme” has the same meaning as in the Pension Schemes Act;

• “pension arrangement” means—

  1. a

     an occupational pension scheme,

  2. b

     a personal pension scheme,

  3. c

     a retirement annuity contract,

  4. d

     an annuity or insurance policy purchased, or transferred, for the purpose of giving effect to rights under an occupational pension scheme or a personal pension scheme, and

  5. e

     an annuity purchased, or entered into, for the purpose of discharging liability in respect of a pension credit under Article 26(1)(b) or under section 29(1)(b) of the Welfare Reform Act;

• “personal pension scheme” has the same meaning as in the Pension Schemes Act;

• “prescribed” means prescribed by regulations made by the Department;

• F1“retirement annuity contract” means an annuity contract or trust scheme approved under section 620 or 621 of the Income and Corporation Taxes Act 1988 or a substituted contract within the meaning of section 622(3) of that Act which became a registered pension scheme by virtue of paragraph 1(1)(f) of Schedule 36 to the Finance Act 2004,

• “trustees or managers”, in relation to an occupational pension scheme or a personal pension scheme, means—

  1. a

     in the case of a scheme established under a trust, the trustees of the scheme, and

  2. b

     in any other case, the managers of the scheme.