1.—(1) This Order may be cited as the Pensions Act 2014 (Savings) Order 2015.
(2) This Order comes into force on 6th April 2016.
(3) Articles 2(1) and (2) cease to have effect on 6th April 2019.
(4) In this Order—
“the Act” means the Pensions Act 2014;
“the 1993 Act” means the Pension Schemes Act 1993(1);
“contracted-out employment” and “contributions equivalent premium” have the meanings given in section 181(1) of the 1993 Act(2);
“earner” has the meaning given in section 181(1) of the 1993 Act(3);
“HMRC” means the Commissioners for Her Majesty’s Revenue and Customs;
“PPF assessment period” means an assessment period in relation to the Board of the Pension Protection Fund within the meaning of section 132 of the Pensions Act 2004(4);
“salary related contracted-out scheme” and “the second abolition date” have the meanings given in section 181(1) of the 1993 Act(5).
The definition of “contributions equivalent premium” in section 181(1) of the Pensions Schemes Act 1993 (“the 1993 Act”) was amended by paragraph 77(a)(ii) of Schedule 5 to the Pensions Act 1995 (c.26) and is amended by paragraph 43(6) of Schedule 13 to the Pensions Act 2014 (“the Act”).
The definition of “earner” is amended by paragraph 43(7) of Schedule 13 to the Act.
The definitions of “salary related contracted-out scheme” and “the second abolition date” in section 181(1) of the 1993 Act are inserted by paragraph 43(2) of Schedule 13 to the Act.