Pensions Act 2008

Private pensions

100Abolition of safeguarded rights

Part 3A of the Pension Schemes Act 1993 (safeguarded rights) ceases to have effect.

101Revaluation of accrued benefits etc

(1)Schedule 2, which—

(a)amends Schedule 3 to the Pension Schemes Act 1993 (methods of revaluing accrued pension benefits),

(b)amends Schedule 7 to the Pensions Act 2004 (c. 35) (pension compensation provisions), and

(c)makes consequential amendments,

has effect.

(2)The amendments made by Parts 1 and 3 of Schedule 2 do not apply in relation to a revaluation period ending before this section comes into force.

(3)In subsection (2), “revaluation period” has the same meaning as in paragraph 2 of Schedule 3 to the Pension Schemes Act 1993.