- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.
5.—(1) Schedule 28 (registered pension schemes: authorised pensions—supplementary) shall be modified as follows.
(2) In paragraph 10—
(a)in sub-paragraph (1) for “The period of five unsecured pension years” substitute “The first reference period as defined in sub-paragraph (1A) below”;
(b)after sub-paragraph (1) insert a new sub-paragraph as follows—
“(1A) The “first reference period” is the period commencing on 6th April 2006 and terminating on the earliest of—
(a)the day immediately before the day fixed by the scheme administrator on which to recalculate the basis amount;
(b)the day immediately before the day on which the basis amount was recalculated following an annuity purchase;
(c)6th April 2008.”;
(c)in sub-paragraph (2) for “sub-paragraph (5)” substitute “sub-paragraphs (2A) and (5).”;
(d)after sub-paragraph (2) insert the following sub-paragraph—
“(2A) For the first reference period as defined in sub-paragraph (1A), the basis amount is—
(a)the annual amount of the annuity calculated pursuant to section 630 of ICTA;
(b)the maximum annual pension calculated in accordance with the rules set out in Appendix XII Part I of the Occupational Pension Schemes Practice Notes (IR12) published by the Board on 22nd January 2001 (“the Notes”);
(c)the annual amount of pension income which has been paid in accordance with paragraph 20.41 of the Notes in respect of a retirement benefits scheme approved for the purposes of Chapter 1 of Part 14 of ICTA, being paid as a small self-administered pension pursuant to the terms of Memorandum 119 issued on 6th May 1994 by the Board(1).
which could have been purchased by the application of the sums and assets which then represented the member’s pension fund on the nominated date.”;
(e)in sub-paragraph (3)(a) for “the reference date” substitute “the applicable reference date”;
(f)after sub-paragraph (3) insert—
“(3A) “The applicable reference date” is the date on which the pension fund was last valued —
(a)in the case of a personal pension fund, pursuant to section 634A of ICTA (income withdrawal by member),
(b)in the case of a retirement benefits scheme (other than one falling within paragraph (c) below), pursuant to the rules set out in the Notes, or
(c)in the case of a retirement benefits scheme referred to in sub-paragraph (2A)(c), the date of the scheme’s last triennial report as required by paragraph 20.41 of the Notes.”.
(3) In paragraph 24—
(a)in sub-paragraph (1) for the words “The period of five unsecured pension years” substitute “The first reference period as defined in sub-paragraph (1A) below”;
(b)after sub-paragraph (1) insert a new sub-paragraph as follows—
“(1A) The “first reference period” is the period commencing on 6th April 2006 and terminating on the earliest of—
(a)the day immediately before the day fixed by the scheme administrator on which to recalculate the basis amount;
(b)the day immediately before the day on which the basis amount was recalculated following an annuity purchase;
(c)6th April 2008.”;
(c)in sub-paragraph (2) for “sub-paragraph (5)” substitute “sub-paragraphs (2A) and (5).”;
(d)after sub-paragraph (2) insert the following sub-paragraph—
“(2A) For the first reference period as defined in sub-paragraph (1A), the basis amount is—
(a)the annual amount of the annuity calculated pursuant to section 630 of ICTA,
(b)the maximum annual pension calculated in accordance with the rules set out in Appendix XII Part I of the Occupational Pension Schemes Practice Notes (IR12) published by the Board on 22nd January 2001 (“the Notes”) or,
(c)the annual amount of pension income that has been paid in accordance with paragraph 20.41 of the Notes in respect of a retirement benefits scheme approved for the purposes of Chapter 1 of Part 14 of ICTA, being paid as a small self-administered pension calculated pursuant to the terms of Memorandum 119 issued by the Board on 6 May 1994
which could have been purchased by the application of the sums and assets which then represented the member’s pension fund on the nominated date.”;
(e)in sub-paragraph (3)(a) for “the reference date” substitute “the applicable reference date”;
(f)after sub-paragraph (3) insert—
“(3A) “The applicable reference date” is the date on which the pension fund was last valued—
(a)in the case of a personal pension fund, pursuant to section 636A of ICTA (income withdrawal after the death of member),
(b)in the case of a retirement benefits scheme (other than one falling within paragraph (c) below), pursuant to the rules set out in the Notes, or
(c)in the case of a retirement benefits scheme referred to in sub-paragraph (2A)(c), the date of the scheme’s last triennial report as required by paragraph 20.41 of the Notes.”.
i.e. by the Commissioners of Inland Revenue. For the construction of references to the Board in relation to pensions on or after 18 April 2001 see section 50 of the Commissioners for Revenue and Customs Act 2005 c. 11.
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Mae Memoranda Esboniadol yn nodi datganiad byr o ddiben Offeryn Statudol ac yn rhoi gwybodaeth am ei amcan polisi a goblygiadau polisi. Maent yn ceisio gwneud yr Offeryn Statudol yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol, ac maent yn cyd-fynd ag unrhyw Offeryn Statudol neu Offeryn Statudol Drafft a gyflwynwyd ger bron y Senedd o Fehefin 2004 ymlaen.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys