The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016

Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1996

3.  In regulation 1(2) (interpretation) of the Occupational Pension Schemes (Contracting-out) Regulations 1996(1), in the definition of “section 9(2B) rights”(2)—

(a) in paragraph (a), for “contracted-out by virtue of section 9(2B) of the 1993 Act” substitute “that was a salary-related contracted-out scheme(3)”;

(b) in paragraph (b), in the introductory words—

(i) after “has been made” insert “(other than a payment made in accordance with regulation 10 (transfers payments to occupational and personal pension schemes in respect of section 9(2B) rights) of the Contracting-out (Transfer and Transfer Payment) Regulations 1996(4)”; and

(ii) after “such a scheme,” insert “whether before or after the second abolition date(5),”; and

(c) in paragraph (b)(i), for “contracted-out by virtue of section 9(2B) of that Act” substitute “that was a salary-related contracted-out scheme”.

(1)

S.I. 1996/1172.

(2)

This definition was substituted by S.I. 1997/786 and amended by S.I. 1999/3198, S.I. 2011/1246 and S.I. 2015/1677.

(3)

See section 7B of the Pension Schemes Act 1993 (c.48) (“the 1993 Act”) inserted by paragraph 6 of Schedule 13 to the 2014 Act for the definition of “salary related contracted-out scheme”.

(4)

S.I. 1996/1462. Regulation 10 was substituted by S.I. 2011/1245 and is amended by article 4(7) of this instrument.

(5)

See section 7A of the 1993 Act inserted by paragraph 6 of Schedule 13 to the 2014 Act for the definition of “second abolition date”.