C1C2C3C4C5C6C7C8C9C10C11C12C13C14C15Part 4Pension schemes etc

Annotations:
Modifications etc. (not altering text)
C7

Pt. 4 modified (1.7.2008) (N.I.) (with effect in accordance with reg. 1 of the amending Rule) by The Health and Social Care (Pension Scheme) Regulations (Northern Ireland) 2008 (S.R. 2008/256), regs. 1, 124(1) (with regs. 134, 258)

C9

Pt. 4 applied (21.7.2009) by Finance Act 2009 (c. 10), Sch. 35 para. 18

C10

Pt. 4 modified (19.7.2011) by Finance Act 2011 (c. 11), Sch. 18 para. 14(3)

C11

Pt. 4 applied (with modifications) (with application in accordance with Sch. 22 para. 1 of the amending Act) by Finance Act 2013 (c. 29), Sch. 22 para. 1(2)

C12

Pt. 4 modified (17.7.2014) by Finance Act 2014 (c. 26), Sch. 6 para. 1(2)(3)

C13

Pt. 4: power to amend conferred (17.12.2014) by Taxation of Pensions Act 2014 (c. 30), s. 4(3)

C14

Pt. 4 modified (15.9.2016) by Finance Act 2016 (c. 24), Sch. 4 para. 1

C15

Pt. 4 modified (15.9.2016) by Finance Act 2016 (c. 24), Sch. 4 para. 9(2)

Chapter 1Introduction

Main concepts

150Meaning of “pension scheme”

1

In this Part “pension scheme” means a scheme or other arrangements, comprised in one or more instruments or agreements, having or capable of having effect so as to provide benefits to or in respect of persons—

a

on retirement,

b

on death,

c

on having reached a particular age,

d

on the onset of serious ill-health or incapacity, or

e

in similar circumstances.

2

A pension scheme is a registered pension scheme for the purposes of this Part at any time if it is at that time registered under Chapter 2.

3

In this Part “public service pension scheme” means a pension scheme—

a

established by or under any enactment,

b

approved by a relevant governmental or Parliamentary person or body, or

c

specified in an order made by the Treasury.

4

In subsection (3) “a relevant governmental or Parliamentary person or body” means—

a

a Minister of the Crown or a government department,

b

the Scottish Parliament, the Scottish Parliamentary Corporate Body or a member of the Scottish Executive,

c

the National Assembly for WalesF1, the National Assembly for Wales Commission or the Welsh Ministers, or

d

the Northern Ireland Assembly, the Northern Ireland Assembly Commission, a Northern Ireland Minister, the head of a Northern Ireland department or a Northern Ireland department.

5

In this Part “occupational pension scheme” means a pension scheme established by an employer or employers and having or capable of having effect so as to provide benefits to or in respect of any or all of the employees of—

a

that employer or those employers, or

b

any other employer,

(whether or not it also has or is capable of having effect so as to provide benefits to or in respect of other persons).

F35A

This Part applies in relation to certain pension schemes that are not occupational pension schemes as it applies in relation to occupational pension schemes (see section F4274ZA and paragraph 1(4A) of Schedule 36).

6

In this Part “sponsoring employer”, in relation to an occupational pension scheme, means the employer, or any of the employers, to or in respect of any or all of whose employees the pension scheme has, or is capable of having, effect so as to provide benefits.

7

In this Part “overseas pension scheme” means a pension scheme (other than a registered pension scheme) which—

a

is established in a country or territory outside the United Kingdom, and

b

satisfies any requirements prescribed for the purposes of this subsection by regulations made by the Board of Inland Revenue.

8

In this Part “recognised overseas pension scheme” means an overseas pension scheme F2which satisfies any requirements prescribed for the purposes of this subsection by regulations made by the Commissioners for Her Majesty's Revenue and Customs.