PART 13Non-UK Pension Schemes
Quality requirements: non-UK occupational pension schemesI145
1
A money purchase scheme within section F418(c) (occupational pension schemes) satisfies the quality requirement for the purposes of section 25 in relation to a jobholder—
a
if it satisfies the requirements for a money purchase scheme under section 20(1), F6...
F6b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
For the purposes of paragraph (1), section 20(1) is to be read as if for “that has its main administration in the United Kingdom” there were substituted “within section F418(c)”.
3
A defined benefits scheme within section F418(c) satisfies the quality requirement for the purposes of section 25 in relation to the jobholder—
F7b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5
Section 24 (quality requirement: UK hybrid schemes) applies to any hybrid scheme within section F418(c) as it applies to a hybrid scheme that has its main administration in the United Kingdom.
6
For the purposes of paragraph (5)—
a
the reference in section 24(1)(a) to the requirements for a money purchase scheme under section 20, and
b
the reference in section 24(1)(b) to the requirements for a defined benefits scheme under sections 21 to F223A,
are to be read subject to the modifications made by paragraphs (2) and (4).
7
Accordingly, a hybrid scheme within section F518(c) satisfies the quality requirement for the purposes of section 25 in relation to the jobholder if the scheme falls within a description of hybrid schemes specified in any rule made under section 24(2) to (4) and either—
a
the scheme satisfies such of the requirements referred to in paragraph (6)(a) or (b) as the rule in question may specify as being appropriate to schemes of that description, subject to any prescribed modification of those requirements which is referred to in that rule, F8...
F8b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .