Transitional

Restriction of existing pension schemes
18
1
No benefits are to be provided under an existing scheme to or in respect of a person in relation to the person's service after the closing date.
2
In this Act “existing scheme” means a scheme listed in Schedule 5 (whether made before or after this section comes into force).
3
Subsection (1) does not apply—
a
in relation to an existing scheme which is a defined contributions scheme;
b
to benefits excepted by Schedule 5.
4
The closing date is—
a
31 March 2014 for an existing scheme which is a relevant local government scheme, and
b
31 March 2015 in any other case.
This is subject to subsection (7).
5
Scheme regulations may provide for exceptions to subsection (1) in the case of—
a
persons who were members of an existing scheme, or who were eligible to be members of such a scheme, immediately before 1 April 2012, and
b
such other persons as the regulations may specify, being persons who before that date had ceased to be members of an existing scheme or to be eligible for membership of such a scheme.
6
Exceptions under subsection (5) may, in particular, be framed by reference to the satisfaction of a specified condition (for example, the attainment of normal pension age under the existing scheme or another specified age) before a specified date.
7
Where an exception to subsection (1) is framed by reference to the satisfaction of a specified condition before a specified date, scheme regulations may also provide for a different closing date for persons in whose case the condition—
a
is not satisfied before the specified date, but
b
is satisfied no more than 4 years after that date.
8
Provision made under subsection (5) or (7) may in particular be made by amending the relevant existing scheme.
9
In subsection (1), the reference to benefits in relation to a person's service includes benefits relating to the person's death in service.
10
In subsection (4), “relevant local government scheme” means regulations under section 7 of the Superannuation Act 1972 which relate to persons in England and Wales.