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Pension Schemes Act 1993 is up to date with all changes known to be in force on or before 19 August 2024. There are changes that may be brought into force at a future date.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
Part III Schemes that were contracted-out etc and Effects on Members’ State Scheme Rights ...
12E.Former salary related contracted-out schemes to comply with GMP requirements
15.Increase of guaranteed minimum where commencement of guaranteed minimum pension postponed.
15A.Reduction of guaranteed minimum in consequence of pension debit.
16.Revaluation of earnings factors for purposes of s. 14: early leavers etc.
19.Discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts.
24A.Conversion of guaranteed minimum pension into other benefits: introduction
Requirements for certification of occupational and personal money purchase schemes
Cancellation, variation, surrender and refusal of certificates
Alteration of rules by former salary related contracted-out schemes
Chapter II Reduction in social security benefits for members of schemes that were contracted-out
Reduced rates of contributions, and rebates, for members of money purchase contracted-out schemes
Minimum contributions: members of appropriate personal pension schemes
Effect of entitlement to guaranteed minimum pensions on payment of social security benefits
Effect of reduced contributions and rebates on social security benefits
Chapter III Termination of contracted-out or appropriate scheme status: state scheme premiums
Approval of arrangements for schemes ceasing to be certified
55.Payment of state scheme premiums on termination of certified status.
59.Alternative basis for revaluation of earnings factors for calculation of certain premiums.
61.Deduction of contributions equivalent premium from refund of scheme contributions.
63.Further provisions concerning calculations relating to premiums.
64.Actuarial tables for purposes of calculations relating to premiums.
65.Inclusion of former and future earners for some purposes of this Chapter.
Part IV Protection for early leavers
Chapter I preservation of benefit under occupational schemes
Chapter II Revaluation of accrued benefits (excluding guaranteed minimum pensions)
Chapter III Protection of increases in guaranteed minimum pensions (“anti-franking”)
. . . . . . . . . ....
Chapter 5 Early leavers: cash transfer sums and contribution refunds
. . . . . . . . . ....
Part 4ZA Transfers and contribution refunds
Chapter 1 Transfer rights: general
93A.Right to statement of entitlement: benefits other than money purchase
96.Further provisions concerning exercise of option under s. 95.
97A.Designation of funded public service defined benefits schemes
97B.Designation of funded public service defined benefits schemes: Scotland
97C.Reduction of cash equivalents in case of designated schemes
99A.Trustees' further duties: collective money purchase benefits
100B.Meaning of “scheme rules”: occupational pension schemes
Chapter 2 Early leavers: cash transfer sums and contribution refunds
Part V Annual Increases of Pensions in Payment
Chapter I Pensions under Final Salary Schemes etc.
102. Scope of Chapter I: annual increase of certain occupational pensions.
104. Annual increase of earlier service component where scheme is in surplus.
105. Proportional increase where first period is less than 12 months.
107. Application of Chapter I to pensions not attributable to pensionable service.
Part VI Further Requirements for Protection of Scheme Members
111A. Monitoring of employers’ payments to personal pension schemes.
111B. Obtaining information for purposes of section 111A and corresponding Northern Ireland legislation.
112. Restrictions on investment of scheme’s resources in employer-related assets.
113B.Occupational pension schemes: requirements to refer members to guidance etc
115.Powers as respects failure to comply with information requirements.
Part VII Insolvency of employers
Chapter I Independent trustees
119. Requirement for independent trustee where employer becomes insolvent etc.
120. Members’ powers to apply to court to enforce duty under s. 119.
121. Further provisions as to appointment and powers of independent trustees.
122. Duty of insolvency practitioner or official receiver to give information to scheme trustees.
Chapter II Payment by Secretary of State of unpaid scheme contributions
124. Duty of Secretary of State to pay unpaid contributions to schemes.
125. Certification of amounts payable under s. 124 by insolvency officers.
Part VIII Relationship between requirements and scheme rules
Part XI General and miscellaneous provisions
Avoidance of certain transactions and provisions
159A. No forfeiture on bankruptcy of rights under personal pension schemes.
160. Terms of contracts of service or schemes restricting choice to be void.
161. Provisions excluding Chapter II of Part VII to be void.
162. Removal of restrictions on friendly societies’ pension business.
163. Exemption of certain schemes from rule against perpetuities.
Application of provisions relating to social security administration
SCHEDULES
The Occupational Pensions Board
Transitional Provisions and Savings
Contracting-out requirements for schemes providing guaranteed minimum pensions
Overriding effect of certain requirements for existing contracted-out and appropriate schemes
Modifications in consequence of enactment of Part I of the Social Security Act 1986
Provisions contained in this Act by virtue of statutory instruments
Saving for application of general provisions relating to social security
Re-enactment or amendment of certain provisions not in force
The Social Security Contributions and Benefits Act 1992 (c. 4)
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