Pension Schemes Act 2015 (c. 8)

PART 1 Categories of pension scheme

1 Introduction

(1) This Part defines some key expressions used in pensions legislation—

(a) defined benefits scheme - see section 2;

(b) shared risk scheme (sometimes known as “defined ambition”) - see section 3;

(c) defined contributions scheme - see section 4.

(2) The definitions—

(a) do not apply in any public service pensions legislation;

(b) apply in other legislation only where legislation expressly provides for the definitions to apply.