The Personal and Occupational Pension Schemes (Amendment) Regulations 2008

• Citation: S.I. 2008/1979
• Sections: 5

Section 1 Citation and commencement

These Regulations may be cited as the Personal and Occupational Pension Schemes (Amendment) Regulations 2008 and shall come into force on 1st October 2008.

Section 2 Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations 1996

(1) The Personal and Occupational Pension Schemes (Protected Rights) Regulations 1996 are amended in accordance with this regulation.

(2) In regulation 12(11) (death of member before effect given to his protected rights)—

(a) at the end of sub-paragraph (a), insert “and”, and

(b) omit sub-paragraph (c) and the word “and” immediately preceding it.

Section 3 Amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations 1997

(1) The Personal Pension Schemes (Appropriate Schemes) Regulations 1997 are amended in accordance with this regulation.

(2) In regulation 1(2) (interpretation) , omit the definitions of “deposit-taker”, “ EEA State”, “Friendly Society”, “Home state regulator”, “open-ended investment company”, “recognised scheme”, “ UCITS ” and “unit trust scheme”.

(3) For regulation 2 (forms of schemes which may be appropriate schemes) , substitute—

Forms of schemes which may be appropriate schemes

(2) A personal pension scheme can be an appropriate scheme only if it is a scheme which is, or is treated as, registered under section 153 of the Finance Act 2004 (registration of pension schemes) .

(4) Omit regulation 3 (persons who and bodies which may establish schemes) .

(5) Omit sub-paragraphs (e) and (f) of regulation 4(1) (requirements in respect of an application for an appropriate scheme certificate).

(6) In regulation 6 (requirement to give information)—

(a) at the end of paragraph (b)(ii), insert “and”, and

(b) omit paragraph (b)(iii).

(7) Omit regulation 18 (cancellation of membership of interest-bearing account-funded appropriate personal pension schemes).

(8) Omit Schedules 1 (kinds of unit trust scheme that may be an appropriate scheme) and 2 (information to be included in notice).

Section 4 Revocations

Regulation 4 (amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations 1997) of the Occupational and Personal Pension Schemes (Perpetuities and Contracting-out) Amendment Regulations 2001 is revoked.

Section 5 Revocations

The Personal Pension Schemes (Appropriate Schemes) (Amendment) Regulations 2006 are revoked.