Amendment of regulation A2 of the Superannuation Scheme Regulations
2.—(1) Regulation A2(4) of the Superannuation Scheme Regulations(1)(interpretation) is amended as follows.
(2) Insert the following definitions in alphabetical order in the appropriate places–
| ““the 2004 Act” | The Finance Act 2004(2);”; |
| ““lifetime allowance” | Shall be construed in accordance with Part 4 of the 2004 Act (pension schemes etc.);”; |
| ““lump sum rule” | The meaning given in section 166 of the 2004 Act;”; |
| ““lump sum death benefit rule” | The meaning given in section 168 of the 2004 Act;”; |
| ““normal minimum pension age” | The meaning given in section 279 of the 2004 Act;”; and |
| ““protected pension age” | The pension age provided for in Part 3 of Schedule 36 to the 2004 Act for the purposes of that Part (which deals with pre-commencement benefit rights and the right to take benefit before normal minimum pension age) where the conditions specified in that Part are satisfied;”. |
(3) For the definitions of “occupational pension scheme” and “personal pension scheme”, substitute the relevant following definitions–
| ““occupational pension scheme” | An occupational pension scheme within the meaning of section 1 of the Pension Schemes Act 1993 (categories of pension schemes) which– (a) in the case of such a scheme established on, or after, 6th April 2006, is a registered pension scheme for the purposes of the 2004 Act and which the Scottish Ministers agree to recognise as a transferring scheme for the purposes of Parts M and N of these Regulations; and (b) in the case of such a scheme established before that date, was– (i) approved by the Commissioners for Her Majesty’s Revenue and Customs(3)for the purposes of Chapter I of Part XIV of the Taxes Act (retirement benefits schemes) or whose application for approval under that Chapter was under consideration; (ii) a statutory scheme as defined in section 612(1) of the Taxes Act (interpretation); or (iii) a scheme to which section 608 of the Taxes Act applied (superannuation funds approved before 6th April 1980), and on 6th April 2006 became a registered pension scheme for the purposes of the 2004 Act;”; and |
| ““personal pension scheme” | A personal pension scheme which– (a) in the case of such a scheme established on, or after, 6th April 2006 is a registered pension scheme for the purposes of the 2004 Act and which the Scottish Ministers agree to recognise as a transferring scheme for the purposes of Parts M and N of these Regulations; and (b) in the case of such a scheme established before that date, was– (i) approved by the Commissioners for Her Majesty’s Revenue and Customs for the purposes of Chapter IV of Part XIV of the Taxes Act (personal pension schemes); and (ii) on the 6th April 2006 became a registered pension scheme for the purpose of the 2004 Act;”. |
Regulation A2(4) was relevantly amended by S.I. 1998/1593 which amended the definition of “occupational pension scheme”.
2004 c. 12, relevantly amended by the Finance Act 2005 (c. 7), section 101 and Schedule 10.
The functions of the Commissioners for Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by the Commissioners for Revenue and Customs Act 2005 (c. 11), section 5.