SCHEDULE 3Modifying provisions and amendments

PART 2Modification of early leaver and other provisions

Protection of increases in guaranteed minimum pensions after abolition of contracting-out8

1

Chapter 3 of Part 4 of the PSA 1993 (protection for early leavers: protection of increases in guaranteed minimum pensions (“anti-franking”)) is modified as follows.

2

In the application of that Chapter to P as a member of the old scheme—

a

in section 87(1)(a)(i) (general protection principle), the reference to the time when P ceases to be in pensionable service under a scheme that was, before the second abolition date, a salary-related contracted-out scheme is to be taken as a reference to the time when P ceases to be in pensionable service under this scheme; and

b

subsequent references to “the cessation date” are to be construed accordingly.