PART VIOCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS
Stakeholder pensions
Meaning of “stakeholder pension scheme”262
1
Article 3 of the 1999 Order (meaning of “stakeholder pension scheme”) is amended in accordance with paragraphs (2) to (4).
2
In paragraph (1) (requirements to be met by stakeholder pension schemes), in sub-paragraph (a) for “to (9)” substitute “to (10)”.
3
In paragraph (5) (prescribed requirements relating to administrative expenses of scheme), in sub-paragraph (a) for “by or on behalf of” substitute “by, or on behalf or in respect of,”.
4
After paragraph (9) add—
10
The ninth condition is that—
a
if the scheme is an occupational pension scheme, it is specified in a contracting-out certificate in relation to all categories of employment to which the scheme relates, and
b
if the scheme is a personal pension scheme, it is an appropriate scheme within the meaning of section 3(4) of the Pension Schemes Act.
5
In Article 4 of that Order (registration of stakeholder pension), in paragraph (2)(b)(i) for “to (9)” substitute “to (10)”.