PART 2Schemes divided into sections

Qualifying schemes4

1

For the purposes of section 54(8) of the 2021 Act (qualifying schemes), the characteristics prescribed are—

a

the rate or amount specified in the rules of the scheme by reference to which qualifying benefits are provided each year under the scheme;

b

the rate or amount of contributions paid by the employer;

c

the rate or amount of contributions paid by the employee;

d

the normal pension age as specified in the rules of the scheme.

2

In this regulation, “normal pension age” has the meaning given in section 76(1) of the Pension Schemes Act 201514 (interpretation of Part 4).