SCHEDULE 2Transitional provisions

PART 3Exceptions to section 18(1) of the Act: tapered protection members of an existing scheme

Exception for tapered protection members during protection period10

1

The protection period for a tapered protection member of an existing scheme is the period which—

a

begins on the day after the scheme closing date; and

b

ends when P ceases to be a tapered protection member of an existing scheme.

2

During the protection period—

a

P is eligible to be in pensionable service under an existing scheme;

b

section 18(1) of the Act does not apply in respect of that pensionable service; and

c

benefits are to be provided under that scheme to or in respect of P in relation to that pensionable service.

Tapered protection member not eligible to join this scheme11

1

While a person (P) is a tapered protection member of an existing scheme, P is not eligible to be an active member of this scheme.

2

P ceases to be a tapered protection member of an existing scheme on whichever of the following days occurs first—

a

P’s tapered protection closing date; or

b

the day on which P ceases to be in pensionable service under an existing scheme.

Member of an existing scheme on scheme closing date12

1

A person (P) is a tapered protection member of an existing scheme if sub-paragraph (2) or sub-paragraph (3) applies—

2

This sub-paragraph applies if—

a

P was an active member of an existing scheme on 31st March 2012;

b

P was an active member of an existing scheme on the scheme closing date; and

c

unless P dies, P would reach normal pension age during the period beginning with 2nd April 2022 and ending with 1st September 2025.

3

This sub-paragraph applies if—

a

P was an active member of an existing scheme (“P’s transitional scheme”) on 31st March 2012;

b

P was an active member of an existing scheme (“Scheme A”) on the scheme closing date; and

c

P would, unless P dies, reach normal pension age under—

i

Scheme A during the period beginning with 2nd April 2022 and ending with 1st September 2025; and

ii

P’s transitional scheme on or before 1st September 2025.

Members moving between schemes after the scheme closing date13

1

A person (P) is a tapered protection member of an existing scheme if—

a

P was an active member of an existing scheme (“P’s transitional scheme”) on 31st March 2012 and on the closing date for that scheme;

b

P begins pensionable service which is pensionable under an existing scheme (“Scheme A”), not more than 5 years after leaving pensionable service in P’s transitional scheme.

c

P would have been a protected member of P’s transitional scheme had P re-entered service which is pensionable under that scheme on the date P begins service which is pensionable under Scheme A; and

d

P would, unless P dies, reach normal pension age under—

i

Scheme A during the period beginning with 2nd April 2022 and ending with 1st September 2025; and

ii

P’s transitional scheme on or before 1st September 2025.

2

For the purposes of this paragraph—

a

the closing date for an existing scheme is the date referred to in section 18(1) of the Act as applicable;

b

“exception”, in relation to an existing scheme, means an exception under section 18(5) of the Act provided for in scheme regulations which relate to that scheme; and

c

“protected member of P’s transitional scheme” means a person in respect of whom an exception applies for the purposes of that scheme.