The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014

1Citation, commencement, extent and interpretation

2Meaning of “cash balance benefit”

3Interpretation and application of this Part

4Money purchase underpin benefits

5Top-up benefits

6No provision of Part 4 of the Act (money purchase...

PART 4Protected rights

7Schemes which provided protected rights as cash balance benefits etc

PART 5Modification of schemes

8The subsisting rights provisions

9Money purchase underpin benefits and top-up benefits

10Application of this Part in relation to multi-employer schemes

11Schemes treated as money purchase schemes: winding up commencing before 6th April 2005

12Non-money purchase schemes providing benefits treated as money purchase benefits: winding up commencing before 6th April 2005

13Schemes treated as money purchase schemes: winding up commencing on or after 6th April 2005 but before the appointed day

14Non-money purchase schemes including benefits treated as money purchase benefits: winding up commencing on or after 6th April 2005 but before the appointed day

15Schemes winding up after an assessment period

16Closed schemes: further assessment periods

17Discharge of pensions in payment derived from additional voluntary contributions treated as money purchase benefits: scheme commencing winding up on or after the appointed day

18Interpretation

19Application to multi-employer schemes

20Application of section 75 of the 1995 Act to schemes treated as money purchase schemes: periods before the appointed day

21Application of section 75 of the 1995 Act to non-money purchase schemes including benefits treated as money purchase benefits: periods before the appointed day

22Non-money purchase schemes which are multi-employer schemes: arrangements before the appointed day

23Schemes or benefits treated as money purchase falling outside regulations 20 to 22

24Schemes or benefits treated as money purchase falling outside regulations 20 to 22: insolvent employer

25Revaluation of cash balance benefits etc: pensionable service before the appointed day

26Indexation of cash balance benefits etc: pensions in payment before the appointed day

27Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991

28Amendment of the Occupational Pension Schemes (Revaluation) Regulations 1991

29Interpretation

30Cash equivalent of cash balance benefits etc treated as money purchase benefits: transitional arrangements

31Statement of entitlement in relation to cash balance benefits etc treated as money purchase benefits: periods before the appointed day

32Amendment of the Transfer Values Regulations

33In this Part “the Early Leavers Regulations” mean the Occupational...

34Cash transfer sum: cash balance benefits etc treated as money purchase benefits

35Amendment of the Early Leavers Regulations

36Interpretation

37Failure to comply with the requirements of section 37 or 76 of the 1995 Act: periods before the appointed day

38Non money-purchase schemes providing cash balance benefits etc

39Amendment of the Payments to Employer Regulations

40Modification of the Occupational Pension Schemes (Scheme Administration) Regulations 1996

41Scheme accounts

42Interpretation

43Eligibility: schemes treated as money purchase schemes

44Validity of valuations etc, determinations, transfer notices and discharge of benefits before the appointed day

45Schemes which become eligible schemes: provision of valuations to determine scheme underfunding

46Provision of information: schemes and benefits treated as money purchase

47Eligible schemes including benefits treated as money purchase benefits: initial levy and pension protection levies

48Schemes which become eligible schemes: administration levy and pension protection levies: periods after the appointed day

49Eligible schemes including benefits which become non-money purchase: power to direct out-of-cycle valuations

50Waiver of Fraud Compensation Levy: periods before the appointed day

51Discharge of cash equivalent of benefits treated as money purchase

52Schemes continuing as closed schemes after an assessment period

53Discharge as money purchase liabilities: periods before the appointed day

54Discharge as money purchase liabilities: periods after the appointed day

55Closed schemes: Board’s assumption of responsibility after the appointed day

56Discharge as money purchase benefits: scheme right to transfer payment or contribution refund

57Discharge of pensions in payment derived from additional voluntary contributions treated as money purchase benefits: periods after the appointed day

58Modification of the Pension Protection Fund (Entry Rules) Regulations 2005

59Modification of the Pension Protection Fund (Compensation) Regulations 2005 where there is no provision for a survivor’s pension

60Amendment of the Pension Protection Fund (Compensation) Regulations 2005

61Amendment of the Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations 2005

62Interpretation of this Part

63Application of Part 3 of the 2004 Act to schemes treated as money purchase: periods before the appointed day

64Application of Part 3 of the 2004 Act to schemes including benefits treated as money purchase benefits: periods before the appointed day

65Actuarial valuations and reports for schemes treated as money purchase schemes: periods on and after the appointed day

66Modification of the Scheme Funding Regulations for schemes treated as money purchase schemes: periods on and after the appointed day

67Provision of summary funding statement in relation to schemes treated as money purchase: periods on and after the appointed day

68Schedule of payments in relation to schemes treated as money purchase: periods on and after the appointed day

69Application of Part 3 of the 2004 Act to schemes including benefits treated as money purchase: periods on or after the appointed day

70Application and interpretation

71Schemes treated as money purchase schemes: non-qualifying schemes

72Qualifying schemes including benefits treated as money purchase benefits

73Modification of the Occupational Pension Schemes (Equal Treatment) Regulations 1995

74Retrospective modification of the Equality Act 2010 (Sex Equality Rule) (Exceptions) Regulations 2010

75Amendment of the Equality Act 2010 (Sex Equality Rule) (Exceptions) Regulations 2010

76Valuations for the purposes of pension sharing etc: transitional arrangements

PART 18Cross-border Schemes

77Cross-border schemes treated as money purchase schemes

PART 19Disclosure

78Benefits and schemes treated as money purchase before the appointed day

79Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

This Statutory Instrument supersedes in part the draft of the Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 which was laid before Parliament on 6th May 2014 and published on 9th May 2014 (ISBN 978-0-11-111456-8). It is being issued free of charge to all known recipients of that draft Statutory Instrument.

2014 No. 1711

Pensions

The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014

Made1st July 2014

Laid before Parliament3rd July 2014

Coming into force in accordance with regulation 1(1)

The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 74(5), 97(1), (2)(b) and (3)(c), 101AF(1), (3)(b) and (4)(b)1, 101I2, 101L(1) and (2)(b)3, 113(1), 153(1)4 and (2)(c), 181(1)5, 182(2) and (3) and 183(1)6 of the Pension Schemes Act 19937, sections 10(3), 37(4)(a) to (c), (e) and (8)8, 47(5)(a), 73(6), (7) and (8)(a)9, 75(5)10 and (10), 124(1)11 and 174(2) and (3) of the Pensions Act 199512, sections 23(1)(b), 26(1)13, 30(1) and 83(4) and (6) of the Welfare Reform and Pensions Act 199914, sections 117, 126(1)(b) and (5), 135(4), 138(10)(a), 146(1), 161(3)(b), 179(1)(a) and (3), 189(11)(b), 190(1), 207, 232, 315(2), (4) and (5) and 318(1)15 of and paragraphs 12(3A)(b)16, 17(3A)(b)17, 20(7) and 33(1) of Schedule 7 to the Pensions Act 200418, section 212(1)19 of and paragraph 5(2) of Schedule 7 to the Equality Act 201020 and sections 30(1) and (2), 31(1) and 33(1)(a), (b) and (d) of the Pensions Act 201121.

In accordance with section 185(1) of the Pension Schemes Act 199322, section 120(1) of the Pensions Act 1995, section 83(11) of the Welfare Reform and Pensions Act 1999 and section 317(1) of the Pensions Act 2004, the Secretary of State has consulted such persons as the Secretary of State considers appropriate.