The Pensions Act 2011(Transitional, Consequential and Supplementary Provisions) Regulations 2014

Interpretation

18.  In this Part—

“approved withdrawal arrangement”, “flexible apportionment arrangement”, “multi-employer scheme”, “regulated apportionment arrangement”, “scheme apportionment arrangement” and “withdrawal arrangement” have the same meaning as in regulation 2(1) of the Employer Debt Regulations (interpretation)(1);

“the effective date” is the date by reference to which the assets of a scheme are valued and the amount of the scheme liabilities is calculated;

“employer” has the same meaning as in section 75 of the 1995 Act (deficiencies in the assets)(2) and regulations 6 (multi-employer schemes: general)(3) and 9 (frozen schemes and former employers)(4) of the Employer Debt Regulations;

“the Employer Debt Regulations” means the Occupational Pension Schemes (Employer Debt) Regulations 2005(5); and

“share of the difference”, in relation to an employer participating in a multi-employer scheme, has the meaning given by regulation 2(1) of the Employer Debt Regulations (interpretation)(6) and includes in particular an employer’s share under—

(a)

a scheme apportionment arrangement;

(b)

a withdrawal arrangement;

(c)

a flexible apportionment arrangement;

(d)

an approved withdrawal arrangement; and

(e)

a regulated apportionment arrangement;

(1)

The definitions of “multi-employer scheme” and “withdrawal arrangement” were substituted, and the definitions of “approved withdrawal arrangement”, “regulated apportionment arrangement” and “scheme apportionment arrangement” inserted, by S.I. 2008/731. The definition of “flexible apportionment arrangement” was inserted by S.I. 2011/2973.

(2)

Section 75(1) to (4C) was substituted for subsections (1) to (4) of that section as originally enacted by section 271(1) and (2) of the Pensions Act 2004 (c. 35) (“the 2004 Act”). Subsections (6A) to (6D) were inserted by section 271(1) and (5) of that Act and section 271(3), (4) and (6) of that Act amended other parts of section 75.

(3)

Regulation 6 was amended by S.I.s 2008/731, 2010/725, 2011/2973 and 2012/1817.

(4)

Regulation 9 was substituted by S.I. 2008/731 and amended by S.I.s 2010/725 and 2011/2973.

(5)

S.I. 2005/678.

(6)

The definition “share of the difference” was inserted by S.I. 2008/731.