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Pensions Act 2008
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Changes over time for: Section 99A
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Pensions Act 2008, Section 99A is up to date with all changes known to be in force on or before 26 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Section 99A:
- s. 3(1A) inserted by 2023 c. 44 s. 1(2)
- s. 5(1C) inserted by 2023 c. 44 s. 1(3)
- s. 13A inserted by 2023 c. 44 s. 1(4)
- s. 24(1)(c) inserted by 2015 c. 8 Sch. 2 para. 43(2)(d)
- s. 143(6)(7) inserted by 2023 c. 44 s. 1(5)(b)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 3(1A) inserted by 2023 c. 44 s. 1(2)
- s. 5(1C) inserted by 2023 c. 44 s. 1(3)
- s. 13A inserted by 2023 c. 44 s. 1(4)
- s. 24(1)(c) inserted by 2015 c. 8 Sch. 2 para. 43(2)(d)
- s. 143(6)(7) inserted by 2023 c. 44 s. 1(5)(b)
[F199AMoney purchase benefits: supplementaryU.K.
This section has no associated Explanatory Notes
(1)This section applies for the purposes of [F2paragraph (a) of the definition] of “money purchase benefits” in section 99.
(2)A benefit other than a pension in payment falls within this section if its rate or amount is calculated solely by reference to assets which (because of the nature of the calculation) must necessarily suffice for the purposes of its provision to or in respect of the member.
(3)A benefit which is a pension in payment falls within this section if—
(a)its provision to or in respect of the member is secured by an annuity contract or insurance policy made or taken out with an insurer, and
(b)at all times before coming into payment the pension was a benefit falling within this section by virtue of subsection (2).
(4)For the purposes of subsection (2) it is immaterial if the calculation of the rate or amount of the benefit includes deductions for administrative expenses or commission.
(5)In this section references to a pension do not include income withdrawal or dependants' income withdrawal (within the meaning of paragraphs 7 and 21 of Schedule 28 to the Finance Act 2004).]
Textual Amendments
F1S. 99A inserted (retrospective to 5.7.2010) by Pensions Act 2011 (c. 19), s. 29(4)(8); S.I. 2010/10, art. 2(c)
F2Words in s. 99A(1) substituted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 1 para. 7; S.I. 2022/721, regs. 1(2), 3(a)
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