The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1993

• Citation: S.I. 1993/519
• Sections: 5

Section 1 Citation and commencement

These Regulations may be cited as the Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1993 and shall come into force on 6th April 1993.

Section 2 Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1984

In the Occupational Pension Schemes (Contracting-out) Regulations 1984 , in regulation 22 (alternative to limited revaluation premium)—

(a) in paragraph (3)—

(i) the words “Subject to paragraph (3A)” shall be deleted;

(ii) for the words “8½ per cent. compound” there shall be substituted the words “the appropriate percentage”;

(b) paragraph (3A) shall be deleted;

(c) in paragraph (7)—

(i) the words “Subject to paragraph (7A)” shall be deleted;

(ii) for the words “8½ per cent. compound” there shall be substituted the words “the appropriate percentage”;

(d) paragraph (7A) shall be deleted;

(e) the following paragraph shall be inserted after paragraph (7)—

(8) In this regulation “the appropriate percentage” in relation to each period of service in respect of which accrued rights to guaranteed minimum pension have been acquired under, or transferred to, the scheme means—

(a) where that period of service terminated before 6th April 1988, 8½ per cent. compound;

(b) where that period of service terminated on or after 6th April 1988 but before 6th April 1993, 7½ per cent. compound;

(c) where that period of service terminates on or after 6th April 1993, 7 per cent. compound.

Section 3 Amendment of the Personal Pension Schemes (Disclosure of Information) Regulations 1987

In Schedule 2 to the Personal Pension Schemes (Disclosure of Information) Regulations 1987 , the following words shall be added at the end of paragraph 1 (information about contributions to be made available to individuals)—

; and

section 3(1)(aa) of that Act .

Section 4 Amendment of the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987

In the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987 , in regulation 3(9) (application of section 57 of the Social Security Pensions Act 1975 to personal pension schemes), the words “, except in its application to Northern Ireland,” shall be omitted.

Section 5 Amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations 1988

In the Personal Pension Schemes (Appropriate Schemes) Regulations 1988 —

(a) in regulation 17(4) (calculation or estimation of earnings), after the reference “section 3(1)(a)” there shall be inserted the reference “and (aa)”;

(b) after regulation 17 there shall be inserted the following regulation—

Calculation of minimum contributions

(17A) For the purposes of determining whether any minimum contribution which may be payable to or for the benefit of an earner should include an amount calculated under section 3(1)(aa) of the Act , the Secretary of State may serve a notice in writing on the earner in question which—

(a) requires him to send documentary evidence of the date of his birth to the Secretary of State; and

(b) sets out the address to which that evidence is to be sent.