Point in time view as at 01/08/2022.
There are currently no known outstanding effects for the Pension Schemes Act 2021, Section 42.
(1)A person may wind up a collective money purchase scheme only in accordance with continuity option 1 (see section 36).
(2)Subsection (1) overrides any provision of a collective money purchase scheme to the extent that there is a conflict.
(3)Section 10 of the Pensions Act 1995 (civil penalties) applies to a person who fails to comply with subsection (1).
Commencement Information
I1S. 42 in force at Royal Assent for specified purposes, see s. 131(3)(a)
I2S. 42 in force at 1.8.2022 in so far as not already in force by S.I. 2022/721, reg. 3(a)
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