Amendments to the Pensions on Divorce etc. (Provision of Information) Regulations 20002

1

The Pensions on Divorce etc. (Provision of Information) Regulations 20006 are amended as follows.

2

In regulation 1(2) (interpretation)7—

a

after the definition of “pensionable service”, insert—

  • “pensioner member” has the meaning given by section 124(1) of the 1995 Act8;

b

in the definition of ““the party with pension rights” and “the other party”” for “Matrimonial Causes Act 1997;” substitute “Matrimonial Causes Act 19739;”.

3

In regulation 2(4) (basic information about pensions and divorce or dissolution of a civil partnership)10, after “which is not specified in” substitute—

Schedules 2 to 5 (basic information; information to be given on request; summary funding statements; statements of benefits: non money purchase benefits) and Schedule 6 (statements of benefits: money purchase benefits and cash balance benefits) or 7 (information to be given by schemes that relates to accessing benefits) (whichever is relevant) to the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 201311, in a case where those Regulations apply.

4

In regulation 3 (information about pensions and divorce and dissolution of a civil partnership: valuation of pension benefits)12—

a

in paragraph (1)—

i

for sub-paragraph (a) substitute—

a

paragraphs (3) and (4), if the person with pension rights is an active member, a deferred member or a pensioner member of an occupational pension scheme;

ii

omit sub-paragraph (b);

iii

for paragraph (ii) of sub-paragraph (d) substitute—

ii

the rights of the person with pension rights are contained in an insurance policy or annuity contract other than a retirement annuity contract;

b

for paragraphs (3) and (4) substitute—

3

Where a person with pension rights is an active member, a deferred member or a pensioner member of an occupational pension scheme, the value of those rights in relation to a category of benefits referred to in section 93(6) of the 1993 Act (category of benefits)13 must be calculated and verified in accordance with regulations 7 to 7C and 7E(1) to (3) of the Transfer Values Regulations (calculation and verification of cash equivalent)14, as if—

a

in the case of benefits other than money purchase benefits, the member has made an application for a statement of entitlement under section 93A of the 1993 Act (right to statement of entitlement: benefits other than money purchase)15 on the date that the request for the valuation was received; or

b

in the case of money purchase benefits, the member has made an application under section 95 of the 1993 Act (ways of taking right to cash equivalent)16 to take the cash equivalent of those benefits on the date that the request for the valuation was received.

4

Where the person with pension rights is continuing to accrue rights to benefits in the category of benefits to be valued, paragraph (3) applies as if the person had ceased to accrue rights in that category of benefits on the date that the request for the valuation was received.

c

in paragraph (5), for “section 94(1)(b) of the 1993 Act” substitute “section 94 of the 1993 Act (right to cash equivalent)17”;

d

in paragraph (6), for “Chapter IV of Part IV of the 1993 Act by section 93(1)(b) of that Act (scope of Chapter IV)” substitute “Chapter 1 of Part 4ZA of the 1993 Act by section 93(5)(b) of that Act (scope of Chapter 1)18”;

e

for paragraphs (8) and (10) substitute—

8

When calculating and verifying a cash equivalent, regulations 7 to 7C and 7E(1) to (3) of the Transfer Values Regulations are to be read as if—

a

in regulation 7—

i

in paragraph (1)(a), the words “and then making any reductions in accordance with regulation 7D” do not appear;

ii

in paragraph (1)(b), the words “regulation 7E” are replaced with “regulation 7E(1) to (3)”;

iii

in paragraphs (2) and (4), the word “trustees” is replaced with “person responsible for the pension arrangement”;

iv

in paragraph (3), the words “trustees are” are replaced with “person responsible for the pension arrangement is”;

v

in paragraph (5), the words “trustees of the scheme in question have” are replaced with “person responsible for the pension arrangement has”;

b

in regulations 7A and 7B, in each place where it appears, the word “trustees” is replaced with “person responsible for the pension arrangement”;

c

in regulation 7C—

i

in paragraph (3), in both places where it appears, the word “trustees” is replaced with “person responsible for the pension arrangement”;

ii

in paragraph (4)(b)(iv), the words “trustees determine” are replaced with “person responsible for the pension arrangement determines”;

d

in regulation 7E—

i

in paragraph (1), the words “trustees have” are replaced with “person responsible for the pension arrangement has”;

ii

in paragraph (2), the word “trustees” is replaced with “person responsible for the pension arrangement”.

5

In regulation 4(2) (provision of information in response to a notification that a pension sharing order or provision may be made)19—

a

at the end of sub-paragraph (b)(i), omit “and”;

b

at the end of sub-paragraph (b)(ii), insert—

and

iii

whether the member’s rights to benefit are to be or are likely to be reduced in accordance with sections 73 to 74 of the 1995 Act (winding up provisions)20;

c

in sub-paragraph (c), after the words “(reductions in initial cash equivalents)” insert “if the member were to transfer the cash equivalent of those rights out of the scheme”.