- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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The Pension Protection Fund (Entry Rules) Regulations 2005
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- Offerynnau Statudol y Deyrnas Unedig
- 2005 No. 590
- Regulation 20
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- Dangos Graddfa Ddaearyddol(e.e. Lloegr, Cymru, Yr Alban aca Gogledd Iwerddon)
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Status:
Point in time view as at 01/04/2009.
Changes to legislation:
There are currently no known outstanding effects for the The Pension Protection Fund (Entry Rules) Regulations 2005, Section 20.
Changes to Legislation
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Consequences of the Board ceasing to be involved with a schemeE+W+S
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Memorandwm Esboniadol
20.—(1) Where an assessment period in relation to an eligible scheme comes to an end by virtue of the Board ceasing to be involved with the scheme [F1following the issue] of a withdrawal notice under section 122(2)(b) of the Act (scheme rescue has occurred) in relation to the scheme which has become binding then, subject to paragraphs (2) and (3), benefits are to accrue under the scheme rules to or in respect of any member of the scheme in respect of any period of service in employment during that assessment period which, but for section 133(5) of the Act (no benefits may accrue to or in respect of members during an assessment period), would have qualified that member for those benefits under the scheme rules.
(2) No benefits shall accrue under [F2the scheme rules] to or in respect of any member of the scheme in the circumstances described in paragraph (1) unless contributions are paid to the scheme by or on behalf of that member before whichever is the earlier of—
(a)the end of the period of one year beginning with the date on which the assessment period in relation to the scheme came to an end, or
(b)the end of the period beginning with the date on which the assessment period in relation to the scheme came to an end and ending at least 28 days before the date on which the member requests the trustees or managers of the scheme to put his entitlement to a pension or other benefits under the scheme into payment.
(3) Where, during the period prescribed in paragraph (2)(a) or (b), contributions are paid to a scheme by or on behalf of a member in respect of any period of that member's employment during an assessment period, contributions shall also become payable to the scheme by the employer in relation to the scheme in respect of that period of the member's employment during that assessment period.
(4) Where, during the period prescribed in paragraph (2)(a) or (b), contributions are paid to a scheme by or on behalf of a member of the scheme or by the employer in relation to the scheme in respect of any period of that member's employment during an assessment period, those contributions must be accepted by the trustees or managers of the scheme for the assessment period or for any part of that period.
Textual Amendments
F1Words in reg. 20(1) substituted (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 4(g)(i)
F2Words in reg. 20(2) substituted (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 4(g)(ii)
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