98.The Act is formed of 4 Parts:
Part 1 – State Pension
Entitlement to Category A and B retirement pensions
Credits for basic state pension
Abolition of adult dependency increases
Up-rating of basic state pension and other benefits
Additional pension: deemed earnings factors
Additional pension: simplification of accrual rates
Increase in state pension age
Part 2 – Occupational and personal pension schemes
Conversion of guaranteed minimum pensions
Abolition of contracting-out for defined contribution pension schemes
Dispute resolution arrangements
Removal of Secretary of State’s role in approving actuarial guidance
Financial assistance scheme: increased levels of payments
Temporary restriction on purchase of annuities
Part 3 – Personal Accounts Delivery Authority
Part 4 – General