Pensions Act 2004

Social Security Contributions and Benefits Act 1992 (c. 4) E+W+S

Commencement Information

I1 Sch. 11 wholly in force at 6.4.2005; Sch. 11 in force at Royal Assent for specified purposes and otherwise at 6.4.2005 see s. 322

16 E+W+S The Social Security Contributions and Benefits Act 1992 is amended as follows.

Commencement Information

I2 Sch. 11 wholly in force at 6.4.2005; Sch. 11 in force at Royal Assent for specified purposes and otherwise at 6.4.2005 see s. 322

17 E+W+S In section 62(1) (graduated retirement benefit)—

(a) in paragraph (a), for “paragraphs 1 to 3” substitute “ paragraphs A1 to 3B and 7C ”, and

(b) after paragraph (b) insert—

“(c) for amending that section in order to make provisions corresponding to those of paragraphs 3C, 4(1) and (1A) and 7A to 7C of Schedule 5 to this Act enabling a widowed person to elect to receive a lump sum, rather than an increase in the weekly rate of retirement pension, in respect of the graduated retirement benefit of his or her deceased spouse.”

Commencement Information

I3 Sch. 11 wholly in force at 6.4.2005; Sch. 11 in force at Royal Assent for specified purposes and otherwise at 6.4.2005 see s. 322

18 E+W+S In section 122(1) (interpretation of Parts 1 to 6)—

(a) before the definition of “beneficiary” insert—

““Bank of England base rate” means—

(a) the rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets, or

(b) where an order under section 19 of the Bank of England Act 1998 is in force, any equivalent rate determined by the Treasury under that section;”, and

(b) for the definitions of “deferred” and “period of deferment” substitute—

““deferred” and “period of deferment”—

(a) in relation to a Category A or Category B retirement pension, have the meanings given by section 55(3), and

(b) in relation to a shared additional pension, have the meanings given by section 55C(3);”.

Commencement Information

I4 Sch. 11 wholly in force at 6.4.2005; Sch. 11 in force at Royal Assent for specified purposes and otherwise at 6.4.2005 see s. 322

19 E+W+S In section 176 (parliamentary control of subordinate legislation) in subsection (1) (affirmative procedure), after paragraph (b) insert—

“(bb) regulations prescribing a percentage rate for the purposes of—

(i) paragraph 3B(3) or 7B(3) of Schedule 5, or

(ii) paragraph 5(3) of Schedule 5A;”.

Commencement Information

I5 Sch. 11 wholly in force at 6.4.2005; Sch. 11 in force at Royal Assent for specified purposes and otherwise at 6.4.2005 see s. 322