Pension Schemes Act 2021 (c. 1)

SCHEDULES

SCHEDULE 3 E+W+S Collective money purchase benefits: minor and consequential amendments

Pensions Act 1995 (c. 26) E+W+S

7 E+W+S In section 51 (annual increase in rate of pension), after subsection (1) insert—

“(1A) Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this section as a separate occupational pension scheme which is a money purchase scheme.”

Commencement Information

I1 Sch. 3 para. 7 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I2 Sch. 3 para. 7 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)