- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
2.—(1) The Divorce etc. (Pensions) (Scotland) Regulations 2000(1) are amended as follows.
(2) In regulation 2(1) (interpretation)–
(a)in the appropriate alphabetical places, insert–
““normal pension age” has the meaning given in section 180 (normal pension age) of the 1993 Act;”;
““the Transfer Values Regulations” means the Occupational Pension Schemes (Transfer Values) Regulations 1996(2);”;
(b)for the definition of “salary related occupational pension scheme”, substitute–
““salary related occupational pension scheme” has the meaning given by regulation 1A of the Transfer Values Regulations;”.
(2) In regulation 3 (valuation)–
(a)in paragraph (2)(d)–
(i)for “paragraphs (7) to (9)” substitute “paragraphs (7) and (8)”;
(ii)after head (iii), insert–
“; or
the pension of the person with pension rights is not in payment and the person has attained normal pension age.”;
(b)for paragraph (4)(b), substitute–
“(b)in accordance with regulation 11 (disclosure) of, and Schedule 1 to, the Transfer Values Regulations.”;
(c)for paragraphs (7) to (9), substitute–
“(7) Cash equivalents are to be calculated and verified in accordance with regulations 7 to 7C and 7E(1) to (3) of the Transfer Values Regulations as appropriate.
(8) But when calculating and verifying a cash equivalent in accordance with those regulations–
(a)references to “trustees” must be read as references to “person responsible for the pension arrangement”;
(b)where the person with pension rights is a pensioner member on the date on which the request for the valuation is received, the value of his pension must be calculated and verified in accordance with regulations 7 to 7E of the Transfer Values Regulations as appropriate;
(c)where the person is over normal pension age but not in receipt of a pension–
(i)the value of his pension must be calculated and verified in accordance with regulations 7 to 7E of the Transfer Values Regulations as appropriate; and
(ii)the person responsible for the pension arrangement must assume that the pension came into payment on the date on which the request for the valuation was received; and
(d)the date by reference to which the cash equivalent is to be calculated and verified is to be the date on which the request for the valuation was received.”; and
(d)in paragraph (10), for “paragraph (3), (4), (7) or (9)”, substitute “paragraph (3), (4) or (7)”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Executive Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2005 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: