The Personal and Occupational Pension Schemes (Indexation and Disclosure of Information) (Miscellaneous Amendments) Regulations 2005

Discharge of liability: pensions under a relevant scheme

13.—(1) Regulation 11 of the Occupational Pension Schemes (Discharge of Liability) Regulations 1997(1) (conditions on which liability to provide pensions under a relevant scheme may be discharged) is amended as follows.

(2) In paragraph (3)—

(a) for sub-paragraph (c) substitute—

“(c) payments to a beneficiary, or to his widow or widower, under the policy or contract which derive from a pension or accrued rights under the relevant scheme shall be subject to such increase (if any) as is required by paragraph (4A);”; and

(b) in sub-paragraph (e) omit paragraph (i).

(3) After paragraph (4) insert—

“(4A) For the purposes of paragraph (3)(c)—

(a) an increase is required if sections 51 and 52 of the 1995 Act, and regulations made under those sections, would apply to payments under the policy or contract if those payments were benefits payable under an occupational pension scheme; and

(b) such an increase shall be payable at the same rate, and to the same extent, as would be required under those provisions.”.

(4) In paragraph (6), for the words “For the purposes of paragraph (3)(e)” substitute “For the purposes of paragraphs (3)(e) and (4A)”.

(1)

Regulation 11 was amended by S.I. 1999/3198.