The Occupational and Personal Pension Schemes (Modification of Schemes - Miscellaneous Amendments) Regulations 2016

Amendment of the Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 2015

4.  In regulation 20 (alteration of scheme rules) of the Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 2015(1)—

(a) in the opening words, omit “would not”; and

(b) for paragraphs (a) and (b) substitute—

“(a) would not—

(i) affect any of the matters dealt with in Part III of the 1993 Act (schemes that were contracted-out etc. and effects on members’ state scheme rights), or any regulations made under that Part, that relate to guaranteed minimum pensions, in a manner that would or might adversely affect any entitlement or accrued rights of any member of the scheme acquired before the alteration takes effect;

(ii) affect any of the matters dealt with in sections 87 to 92 of the 1993 Act(2) (protection of increases in guaranteed minimum pensions) or sections 109 and 110 of that Act(3) (annual increases of guaranteed minimum pensions) or any matters dealt with in regulations made under any of those provisions; or

(b) is made for either or both of the purposes referred to in regulation 7C(1) (modification of schemes: revaluation of guaranteed minimum pensions) of the Occupational Pension Schemes (Modification of Schemes) Regulations 2006.”.

(1)

S.I. 2015/1677.

(2)

Section 87 was amended by paragraph 28 of Schedule 4 to the Pensions Act 2007 and is amended by paragraph 38 of Schedule 13 to the 2014 Act. Other amendments to sections 87 to 92 are made by S.I. 2005/2050.

(3)

Section 109(3A) is amended by paragraph 40 of Schedule 13 to the 2014 Act. Subsection (3A) was inserted by section 55(b) of the Pensions Act 1995 (c. 26). Sections 109 and 110 were also amended by sections 53(4) and 55 of the 1995 Act and by S.I. 2005/2050.