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The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016

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Amendment of the Financial Assistance Scheme Regulations 2005

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25.  In regulation 10 (other schemes which are not qualifying pension schemes) of the Financial Assistance Scheme Regulations 2005(1)—

(a)that regulation becomes paragraph (1) of regulation 10;

(b)in sub-paragraph (g)(ii) of that paragraph, for “is not contracted-out in accordance with section 9 of the 1993 Act” substitute “was not contracted-out at any time before the second abolition date”; and

(c)after paragraph (1) insert—

(2) In this regulation—

“contracted-out” is to be construed in accordance with section 7B(2) (meaning of “contracted-out scheme” etc.) of the 1993 Act; and

“the second abolition date” has the meaning given in section 181(1) (general interpretation) of the 1993 Act..

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