The Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights) Amendment Regulations 2010

Statutory Instruments

2010 No. 506

Pensions

The Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights) Amendment Regulations 2010

Made

24th February 2010

Laid before Parliament

5th March 2010

Coming into force

6th April 2010

The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 181(1) and 182(2) of, and paragraph 5(3C)(c) of Schedule 2 to, the Pension Schemes Act 1993(1), and by paragraph 5(3C)(c) and (4A) of Schedule 1 to the Pension Schemes (Northern Ireland) Act 1993(2) and now vested in the Secretary of State(3).

Consultation was not carried out because in the case of Great Britain the obligation to consult does not apply to regulations prescribing actuarial tables(4); and in the case of Northern Ireland there is no obligation to consult(5).

(1)

1993 c.48. Paragraph 5(3C) of Schedule 2 was inserted by section 141(2)(b) of the Pensions Act 1995 (c.26) and amended by paragraph 62(4)(c) of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c.2). Section 181(1) is cited because of the meaning it gives to “prescribed” and “regulations”. See also the Commissioners for Revenue and Customs Act 2005 (c.11) which transfers the functions of the Inland Revenue to Her Majesty’s Revenue and Customs.

(2)

1993 c.49. Paragraph 5(3C) of Schedule 1 was inserted by Article 138(2)(b) of the Pensions (Northern Ireland) Order 1995 (S.I.1995/3213 (N.I.22)) and amended by paragraph 77(5)(c) of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999 (S.I.1999/671) (“the 1999 Order”) and paragraph 5(4A) (which is cited for the meaning it gives to “regulations” and “prescribed”) was inserted by paragraph 77(5)(d) of Schedule 1 to the 1999 Order.

(3)

See paragraph 5(4A) of Schedule 1 to the Pension Schemes (Northern Ireland) Act 1993, as inserted by paragraph 77(5)(d) of Schedule 1 to the 1999 Order.

(4)

See section 185(2)(a) of the Pension Schemes Act 1993 as it applies to regulation 2.

(5)

See section 180 of the Pension Schemes (Northern Ireland) Act 1993, as it applies to regulation 3, which sets out those powers under which there is an obligation to consult on regulations; paragraphs 5(3C)(c) and (4A) of Schedule 1 to that Act are not powers which impose an obligation to consult.