The Pension Sharing (Implementation and Discharge of Liability) Regulations 2000

Unfunded occupational pension schemes other than public service pension schemes E+W+S

8.—(1) The circumstances in which the trustees or managers of a scheme, to which paragraph 3 of Schedule 5 to the 1999 Act applies, may discharge their liability in respect of a pension credit in accordance with sub-paragraph (3)(c) of that paragraph are those specified in—

(a) sub-paragraphs (a) and (b) of paragraph (2), in the case of [F1 a registered] scheme; and

(b) sub-paragraphs (a), (b) and (c) of paragraph (2), in the case of an [F2 unregistered] scheme.

(2) The circumstances specified in this paragraph are—

(a) the liability of the trustees or managers has not been discharged in accordance with the provisions of paragraph 3(2) of that Schedule;

(b) the person entitled to the pension credit has not consented to the discharge of liability in accordance with paragraph 3(3) of that Schedule; and

(c) the employer who is associated with the scheme from which the pension credit derives—

(i) consents to the trustees or managers discharging their liability for the credit in accordance with paragraph 3(3) of that Schedule; and

(ii) agrees to compensate the person entitled to the credit fully for any tax liability which he may incur as a result of the trustees or managers of the scheme discharging their liability for the credit in accordance with paragraph 3(3) of that Schedule.

[F3 (3) In this regulation—

(a) “registered scheme” means an occupational pension scheme which is registered under section 153 of the Finance Act 2004; and

(b) “unregistered scheme” means an occupational pension scheme which is not a registered scheme under section 153 of the Finance Act 2004.]

Textual Amendments

F1 Words in reg. 8(1)(a) substituted (6.4.2006) by Taxation of Pension Schemes (Consequential Amendments of Occupational and Personal Pension Schemes Legislation) Order 2006 (S.I. 2006/744), art. 1art. 17(3)(a)(i)

F2 Word in reg. 8(1)(b) substituted (6.4.2006) by Taxation of Pension Schemes (Consequential Amendments of Occupational and Personal Pension Schemes Legislation) Order 2006 (S.I. 2006/744), art. 1art. 17(3)(a)(ii)

F3 Reg. 8(3) substituted (6.4.2006) by Taxation of Pension Schemes (Consequential Amendments of Occupational and Personal Pension Schemes Legislation) Order 2006 (S.I. 2006/744), art. 1art. 17(3)(b)