C1PART 1PENSION SCHEME MEMBERSHIP FOR JOBHOLDERS

Annotations:
Modifications etc. (not altering text)
C1

Pt. 1 applied (with modifications) (1.7.2012) by The Automatic Enrolment (Offshore Employment) Order 2012 (S.I. 2012/1388), arts. 1(1), 2 (with art. 5)

C1CHAPTER 1EMPLOYERS' DUTIES

Transitional

I1I229Transitional periods for money purchase and personal pension schemes

1

During the first transitional period F1...—

a

sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “ 1% ”;

b

sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “ 2% ”.

2

The first transitional period is a prescribed period of at least one year, beginning with the coming into operation of section 20.

3

During the second transitional period F2...—

a

sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “ 2% ”;

b

sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “ 5% ”.

4

The second transitional period is a prescribed period of at least one year, beginning with the end of the first transitional period.