The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) (No. 2) Regulations 2011

• Citation: S.I. 2011/1724
• Sections: 3

Section 1 Citation and commencement

(1) These Regulations may be cited as the Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) (No. 2) Regulations 2011.

(2) These Regulations come into force on 6th April 2012.

Section 2 Amendments to the Social Security Administration Act 1992

(1) The Social Security Administration Act 1992 is amended as follows.

(2) In section 150 (annual up-rating of benefits) in subsection (10A) , after “a member of”, insert “a scheme which was at a time before the abolition date, as defined by section 181(1) of the Pensions Act,”.

(3) In section 191 (interpretation – general)—

(a) for the definition of “money purchase contracted-out scheme” substitute—

“money purchase contracted-out scheme” is to be construed in accordance with section 181A of the Pensions Act;

(b) in the definition of “personal pension scheme” , for “section 7(4)” substitute “section 181A(6)”.

Section 3 Amendments to the Pensions Act 2008

In the Pensions Act 2008 , omit sections 20(2) (quality requirement: UK money purchase schemes) and 26(8) (quality requirement: UK personal pension schemes).