Pension Schemes Act 2021

Section 6

SCHEDULE 1E+W+SMoney purchase benefits

This Atodlen has no associated Nodiadau Esboniadol

Building Societies Act 1986 (c. 53)E+W+S

1(1)Schedule 10A to the Building Societies Act 1986 (disclosures about directors, other officers and employees in notes to accounts) is amended as follows.E+W+S

(2)In paragraph 1(2) (aggregate amount of director's remuneration), at the appropriate place insert—

collective money purchase benefit” has the meaning given in section 1 of the Pension Schemes Act 2021;.

(3)In that provision, in the definition of “money purchase benefits”—

(a)for “means retirement benefits” substitute means—

(a)retirement benefits;

(b)at the end insert , and

(b)collective money purchase benefits;.

(4)In paragraph 1A(1) (money purchase benefits), for “the definition” substitute “ paragraph (a) of the definition ”.

Commencement Information

I1Sch. 1 para. 1 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I2Sch. 1 para. 1 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

Pension Schemes Act 1993 (c. 48)E+W+S

2E+W+SThe Pension Schemes Act 1993 is amended as follows.

Commencement Information

I3Sch. 1 para. 2 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I4Sch. 1 para. 2 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

3(1)Section 181(1) (general interpretation) is amended as follows.E+W+S

(2)At the appropriate place insert—

collective money purchase benefit” has the meaning given by section 1 of the Pension Schemes Act 2021;.

(3)In the definition of “money purchase benefits”—

(a)for “means benefits” substitute means—

(a)benefits;

(b)at the end insert , and

(b)collective money purchase benefits;.

Commencement Information

I5Sch. 1 para. 3 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I6Sch. 1 para. 3 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

4E+W+SIn section 181B(1) (money purchase benefits: supplementary), for “the definition” substitute “ paragraph (a) of the definition ”.

Commencement Information

I7Sch. 1 para. 4 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I8Sch. 1 para. 4 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

Pensions Act 2008 (c. 30)E+W+S

5E+W+SThe Pensions Act 2008 is amended as follows.

Commencement Information

I9Sch. 1 para. 5 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I10Sch. 1 para. 5 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

6(1)Section 99 (interpretation of Part 1: pension scheme membership for jobholders) is amended as follows.E+W+S

(2)At the appropriate place insert—

collective money purchase benefit” has the meaning given by section 1 of the Pension Schemes Act 2021;.

(3)In the definition of “money purchase benefits”—

(a)for “means benefits” substitute means—

(a)benefits;

(b)at the end insert , and

(b)collective money purchase benefits;.

Commencement Information

I11Sch. 1 para. 6 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I12Sch. 1 para. 6 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)

7E+W+SIn section 99A(1) (money purchase benefits: supplementary), for “the definition” substitute “ paragraph (a) of the definition ”.

Commencement Information

I13Sch. 1 para. 7 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I14Sch. 1 para. 7 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)