The Pensions Act 2014 (Savings) Order 2015

Citation, commencement and interpretation

1.—(1) This Order may be cited as the Pensions Act 2014 (Savings) Order 2015.

(2) This Order comes into force on 6th April 2016.

(3) Articles [F1 2(1), (2)[F2 , (3A) and (5A)]] cease to have effect on 6th April 2019.

(4) In this Order—

“the Act” means the Pensions Act 2014;

“the 1993 Act” means the Pension Schemes Act 1993;

“contracted-out employment” and “contributions equivalent premium” have the meanings given in section 181(1) of the 1993 Act;

“earner” has the meaning given in section 181(1) of the 1993 Act;

“HMRC” means the Commissioners for Her Majesty’s Revenue and Customs;

“PPF assessment period” means an assessment period in relation to the Board of the Pension Protection Fund within the meaning of section 132 of the Pensions Act 2004;

[F3 “reference scheme minimum benefit” means a salary related benefit which is defined by reference to section 12B of the 1993 Act (reference scheme) and which, under the provisions of the scheme, will be provided as a minimum pension payable to the member;]

“salary related contracted-out scheme” and “the second abolition date” have the meanings given in section 181(1) of the 1993 Act.

Textual Amendments

F1 Words in art. 1(3) substituted (6.4.2016) by The Pensions Act 2014 (Commencement No.7) and (Savings) (Amendment) Order 2015 (S.I. 2015/2058), art. 3(2)(a)

F2 Words in art. 1(3) substituted (6.4.2016) by The Pensions Act 2014 (Contributions Equivalent Premium) (Consequential Provision) and (Savings) (Amendment) Order 2016 (S.I. 2016/252), art. 5(2)reg. 1(2)

F3 Words in art. 1(4) inserted (6.4.2016) by The Pensions Act 2014 (Commencement No.7) and (Savings) (Amendment) Order 2015 (S.I. 2015/2058), art. 3(2)(b)