The Occupational and Personal Pension Schemes (Automatic Enrolment) (Amendment) (No. 3) Regulations 2012

• Citation: S.I. 2012/2691
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Occupational and Personal Pension Schemes (Automatic Enrolment) (Amendment) (No. 3) Regulations 2012 and come into force on 1st November 2012.

Section 2 Amendment of regulation 36 of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010

(1) Regulation 36 of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010 (certain schemes providing average salary benefits excluded from being qualifying schemes) is amended as follows.

(2) For paragraph (2)(c) substitute—

(c) a discretionary power may be exercised in the revaluation of such benefits,

(3) In paragraph (4)—

(a) in sub-paragraph (a) omit “in relation to a scheme which has members on 1st July 2012,”;

(b) in sub-paragraph (b) omit “in relation to any scheme,”; and

(c) in sub-paragraph (c) omit “in relation to any scheme,”.

(4) In paragraph (5)(a)—

(i) for “level” in each place where it occurs, substitute “index”; and

(ii) in paragraph (ii) for “for any month” substitute “for a month”.