- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (07/02/1994)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 06/04/1997
Point in time view as at 07/02/1994. This version of this provision has been superseded.
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Pension Schemes Act 1993, Section 62 is up to date with all changes known to be in force on or before 18 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)Notwithstanding any contract to the contrary, a person shall not be entitled—
(a)to recover any part of a state scheme premium from any earner in respect of whom it is payable; or
(b)except in accordance with section 61, to recover or retain any part of such a premium out of any money payable to or for the benefit of the earner or any other person.
(2)Nothing in subsection (1) affects the right of the trustees or managers of a scheme—
(a)in a case where an accrued rights premium or a pensioner’s rights premium has been paid, to reduce the pension of the person in respect of whom the premium has been paid by the amount of his guaranteed minimum pension;
(b)in a case where a limited revaluation premium has been paid, to recoup it—
(i)out of the resources of the scheme, in so far as they derive from contributions; or
(ii)in prescribed cases, out of payments made to them in respect of an earner’s transfer to their scheme from some other scheme;
(c)in a case where a state scheme premium has been paid, to make the deduction for which section 96(3) provides when they calculate the cash equivalent to which the earner in respect of whom the premium has been paid has a right under Chapter IV of Part IV.
Commencement Information
I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2
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