The Registered Pension Schemes (Relevant Annuities) (Amendment) Regulations 2012

• Citation: S.I. 2012/2940
• Sections: 2

Section 1 Citation, commencement, interpretation and effect

(1) These Regulations may be cited as the Registered Pension Schemes (Relevant Annuities) (Amendment) Regulations 2012 and come into force on 21st December 2012.

(2) In these Regulations “the 2006 Regulations ” means the Registered Pension Schemes (Relevant Annuities) Regulations 2006 .

(3) The amendments made by these Regulations have effect in relation to—

(a) relevant dates (as defined in regulations 3(2) and 3(3) of the 2006 Regulations) falling on or after 21st December 2012,

(b) reference periods beginning on or after 21st December 2012, in relation to which the relevant date falls prior to 21st December 2012, and

(c) drawdown pension years beginning on or after 21st December 2012 and after the member or dependant’s 75th birthday, in relation to which the relevant date falls prior to 21st December 2012.

Section 2 Amendment of the 2006 Regulations

(1) Regulation 3 of the 2006 Regulations (definition of “annual amount”) is amended as follows.

(2) For sub-paragraph (1)(b) substitute—

(b) the purchaser were male and the same age as the member or dependant (but in any case where that age is greater than 85, it shall be treated as 85).

(3) In paragraph (2)(a)(i) for “paragraph 10(3)(a) or 24(3)(a)” substitute “paragraph 10(3) or 24(3)”.