Part V

Miscellaneous and general

Pensions

Pensions.
134
1
Section 1 of the Superannuation Act 1972 (persons to or in respect of whom benefits may be provided by schemes under that section) shall apply to persons falling within subsection (2).
2
This subsection applies to a person if—
a
he has rights and obligations as a pensioner or deferred pensioner under a salary related occupational pension scheme, and
b
the rights and obligations arose by virtue of his or another person’s employment with any of the employers specified in subsection (3).
3
The employers are—
a
a person with whom the Secretary of State or the National Assembly for Wales has made arrangements under section 2 of the Employment and Training Act 1973 and who is specified in an order made by the Secretary of State or is of a description so specified;
b
a company which is a subsidiary of a person falling within paragraph (a) and which is specified in an order made by the Secretary of State or is of a description so specified.
4
A scheme under section 1 of the Superannuation Act 1972 (a new scheme) may not be made in relation to the persons falling within subsection (2) unless—
a
the trustees of the occupational scheme consent in writing to the new scheme being made,
b
the rights of the persons under the new scheme are no less generous than their rights as they existed under the occupational scheme, and
c
the obligations of the persons under the new scheme are no more onerous than their obligations as they existed under the occupational scheme.

Pensions: interpretation.
135
1
This section has effect for the purposes of section 134.
2
Rights in relation to a person include—
a
all forms of right to or eligibility for the present or future payment of a pension to or in respect of him;
b
a right of allocation in respect of the present or future payment of a pension.
3
A deferred pensioner is a person who has rights under the occupational scheme but is neither a pensioner under it nor a person to whom rights are accruing under it by virtue of his employment.
4
“Salary related occupational pension scheme” has the meaning given by section 100D of the Pension Schemes Act 1993.

Pensions: delegation.
136
1
A function exercisable by virtue of section 1 of the Superannuation Act 1972 in consequence of section 134 or of paragraph 6(1) of Schedule 1 may be exercised by (or by employees of) such person as may be authorised in that behalf by the person whose function it is.
2
An authorisation given by virtue of subsection (1) may authorise the exercise of a function—
a
either wholly or to such extent as may be specified in the authorisation;
b
either generally or in such cases as may be so specified;
c
either unconditionally or subject to the fulfilment of such conditions as may be so specified.
3
An authorisation given by virtue of subsection (1) is to be treated for all purposes as if it were given by virtue of an order under section 69 of the Deregulation and Contracting Out Act 1994 (contracting out of functions of Ministers and office-holders).
4
An authorisation given by virtue of subsection (1) may be revoked at any time by the person who gave it.
1972 c. 11.
1973 c. 50.
1972 c. 11.
1993 c. 48.
1972 c. 11.
1994 c. 40.
Words in s. 135(4) substituted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 33 (with s. 87)