Section 6
SCHEDULE 1E+W+SMoney purchase benefits
This schedule has no associated Explanatory Notes
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 ”.
Pension Schemes Act 1993 (c. 48)E+W+S
2E+W+SThe Pension Schemes Act 1993 is amended as follows.
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;”.
4E+W+SIn section 181B(1) (money purchase benefits: supplementary), for “the definition” substitute “ paragraph (a) of the definition ”.
Pensions Act 2008 (c. 30)E+W+S
5E+W+SThe Pensions Act 2008 is amended as follows.
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;”.
7E+W+SIn section 99A(1) (money purchase benefits: supplementary), for “the definition” substitute “ paragraph (a) of the definition ”.