The Registered Pension Schemes (Bridging Pensions) Regulations 2007

• Citation: S.I. 2007/826
• Sections: 2

Section 1 Citation, commencement and effect

(1) These Regulations may be cited as the Registered Pension Schemes (Bridging Pensions) Regulations 2007 and shall come into force on 6th April 2007.

(2) These Regulations have effect in relation to payments of scheme pensions made on or after 6th April 2006.

Section 2 Prescribed percentage of the basic pension rate

(1) The prescribed percentage of the rate of the basic pension under paragraph 2(5)(c) of Schedule 28 to the Finance Act 2004 is that found by the formula—

Here—

A is the total number of years of a member’s employment to which the pension scheme relates which is not or has not been contracted-out employment, and

B is the total number of years of a member’s employment to which the pension scheme relates.

(2) In paragraph (1) “the basic pension” and “contracted-out employment” have the meanings given by paragraph 2(5A) of Schedule 28 to the Finance Act 2004 .