Amendments to the Pension Schemes Act 1993
This section has no associated Explanatory Memorandum
9.—(1) The Pension Schemes Act 1993 is amended as follows.
(2) In section 20(3) (transfer of accrued rights)(), omit “and sections 31 and 33”.
(3) Omit section 33 (tax requirements to prevail over requirements of section 31)().
(4) In section 42A (reduced rates of Class 1 contributions, and rebates)()—
(a)in subsection (3)(), for “trustees or managers of the scheme” substitute “earner”, and
(b)for subsection (5A)(), substitute—
“(5A) Where a payment under subsection (3) is due in respect of an earner, HMRC are not required to make the payment if they determine that the cost to them of administering the payment would exceed the amount of the payment.”.
(5) In section 43 (payment of minimum contributions to personal pension schemes)—
(a)in subsection (2), for “trustees or managers of the earner’s chosen scheme” substitute “earner”, and
(b)for subsection (6A)(), substitute—
“(6A) Where a payment under subsection (1) is due in respect of an earner, HMRC are not required to make the payment if they determine that the cost to them of administering the payment would exceed the amount of the payment.”.
(6) In section 164(2) (Crown employment)(), omit paragraph (a).
(7) In section 181(4) (general interpretation)(), omit “31,”.