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The Pensions Act 2007 (Commencement No. 4) Order 2011
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- UK Statutory Instruments
- 2011 No. 1267 (C. 51)
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
This Order brings into force section 15(1) of the Pensions Act 2007 on 6th April 2012, defined as the “abolition date” by section 15(2) of that Act. Section 15(1) abolishes contracting-out of the state additional pension for defined contribution pension schemes. Part 1 of Schedule 4 to that Act will also have effect from 6th April 2012 by virtue of section 15(4). The Order also brings into force certain consequential amendments contained within Part 2 of Schedule 4 to that Act, and certain repeals contained within Part 7 of Schedule 7 to that Act, on 6th April 2012 and 6th April 2015.
This instrument has no impact on the private sector and civil society organisations. However, related legislation reduces costs on the private sector and civil society organisations, and an assessment of the overall impact of the policy has been made. A copy of the impact assessment is available in the libraries of both Houses of Parliament, and is annexed to the Explanatory Memorandum for the Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I.2011/1245) which is available alongside that instrument on www.legislation.gov.uk.
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