Part V Miscellaneous and general
Pensions
134 Pensions.
1
Section 1 of the M1Superannuation 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 M2Employment 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 M3Superannuation 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.