The Pensions Act 2011(Transitional, Consequential and Supplementary Provisions) Regulations 2014

Schedule of payments in relation to schemes treated as money purchase: periods on and after the appointed day

70.  Where, immediately before the appointed day, the conditions specified in regulation 65(2) are met in relation to an occupational pension scheme, until the first schedule of contributions has been certified by the actuary in relation to the scheme in accordance with section 227(5) of the 2004 Act—

(a) the most recent schedule of payments prepared before the appointed day under section 87 of the 1995 Act (schedules of payments to money purchase schemes)(1) continues to have full effect with respect to the contributions payable towards the scheme by or on behalf of employers and active members of the scheme; and

(b) sections 87, 88 (schedules of payments to money purchase schemes: supplementary)(2) and 89 (application of further provisions to money purchase schemes)(3) of the 1995 Act and Part IV of the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (money purchase schemes)(4) continue to apply to the scheme.

(1)

Section 87 was amended by section 319(1) and 320 of and Schedules 12 and 13 to the Pensions Act 2004 (c. 30) (“the 2004 Act”).

(2)

Section 88 was amended by section 10(2) of the 1999 Act, section 56 of and Schedule 5 to 2000 Act, section 269(2) of the 2004 Act and sections 319(1) and 320 of and Schedules 12 and 13 to the 2004 Act.

(3)

Section 89 was amended by section 319(1) of and Schedules 12 and 13 to the 2004 Act.

(4)

S.I. 1996/1715.