1. Introductory Text

  2. Part I Contributions

    1. 1–5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  3. Part II Benefits

    1. 6–10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 12–16A.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 17.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 18–21.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 22.(1) . . . . . . . . ....

    7. 23–25.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  4. Part III Contracting-Out

    1. Preliminary

      1. 26. Contracting-out of full contributions and benefits.

    2. Contracted-out rates of contributions and benefits

      1. 27. Contracted-out rates of Class 1 contributions.

      2. 28. Review and alteration of contracted-out rates of Class 1 contributions.

      3. 29. Contracted-out rates of benefit.

      4. 29A.(1) Where for any period— (a) a person is entitled...

      5. 29B. Contracting-out and increases of Category A retirement pension for invalidity.

      6. 29C. Contracting-out and increases of unemployability supplement.

    3. Arrangements for contracting-out

      1. 30. Contracted-out employment.

      2. 31. Contracting-out certificates.

      3. 32. Contracted-out schemes.

    4. Requirements for contracting-out

      1. 33. Requisite benefit for earner.

      2. 34.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. 35. Earner’s guaranteed minimum.

      4. 36. Requisite benefit for widow.

      5. 37.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. 37A. Annual increases of guaranteed minimum pensions.

      7. 38. Transfer of accrued rights.

      8. 39. Commutation, surrender and forfeiture.

      9. 40. Financing and assurance of benefits.

      10. 41. Sufficiency of resources.

    5. Protection of pensions

      1. 41A. Earners’ pensions.

      2. 41B.(1) If— (a) there is an interval between the earner’s...

      3. 41C.(1) Subject to subsection (2) below, sections 41A and 41B...

      4. 41D.The Occupational Pensions Board may at any time, and shall...

      5. 41E.(1) On an application made to them in respect of...

    6. State scheme premiums

      1. 42. Premium on termination of contracted-out employment.

      2. 43. Premium under section 42: additional provisions.

      3. 44. Premium on termination of contracted-out scheme.

      4. 44ZA. Money purchase schemes; contracted-out protected rights premium.

      5. 44A. Transfer premiums.

      6. 45. Premium where guaranteed minimum pension excluded from full revaluation.

      7. 46.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      8. 47. Deduction of premium from refund of contributions.

    7. Supplementary

      1. 48. Guaranteed minimum pensions to be inalienable.

      2. 49. Supervision of schemes which have ceased to be contracted-out.

      3. 49.(1) The provisions of this section shall apply in respect...

      4. 50. Alteration of rules of contracted-out schemes.

      5. 51. Information as to guaranteed minimum pensions.

      6. 51A. Refusal and cancellation of contracting-out certificates.

      7. 52. Contracting-out regulations.

  5. Part IV Occupational Pensions

    1. The revaluation percentage

      1. 52A. Duty of Secretary of State to specify revaluation percentage.

      2. 52B. Revalution and transfer values.

    2. Extinguishment of liability of scheme for pensions secured by insurance policies or annuity contracts

      1. 52C.(1) A transaction to which this section applies discharges the...

      2. 52D. Guaranteed minimum pensions under contracted-out schemes - supplementary.

    3. Equal access to occupational pension schemes

      1. 53. Equal access requirements.

      2. 54. Duty to bring schemes into conformity with equal access requirements.

      3. 55. Determination of questions whether scheme conforms with equal access requirements.

      4. 56. Modification of schemes to secure conformity.

    4. Information about and registration of occupational pension schemes

      1. 56A. Power to make regulations requiring disclosure of information about schemes to members etc.

      2. 56B–56D.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. 56E. Additional documents for members etc. and registrar.

      4. 56F–56J.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. 56K.(1) . . . . . . . . ....

      6. 56L.(1) If the trustees or managers of a scheme, having...

      7. 56M, 56N.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. Auditors

      1. 56P. Regulations as to auditors.

    6. Other provisions

      1. 57. Disclosure of information by Occupational Pensions Board.

      2. 57A. Restrictions on investment of scheme’s resources in employer-related assets.

      3. 57B. Grants by the Board to advisory bodies etc.

      4. 57C. Requirement for independent trustee where employer becomes insolvent etc.

      5. 57D. Independent trustees: further provisions.

      6. 58. Priority in bankruptcy etc.

      7. 58A. Annual increase in rate of pension, other than guaranteed minimum pension or money purchase benefit.

      8. 58B. Deficiencies in the assets of a scheme on winding up.

      9. 59. Increase of official pensions.

      10. 59A. Modification of effect of section 59(5).

  6. Part IVA The Pensions Ombudsman

    1. 59B. The Pensions Ombudsman.

    2. 59C. Functions of Pensions Ombudsman.

    3. 59D. Death, insolvency or disability of authorised complainant.

    4. 59E. Staying court proceedings where a complaint is made or a dispute is referred.

    5. 59F. Procedure on an investigation.

    6. 59G. Investigations: further provisions.

    7. 59H. Determinations of the Pensions Ombudsman.

    8. 59J. Power to make special county court rules.

  7. Part V General

    1. 59K. Registration of occupational and personal pension schemes.

    2. 60. Determination of questions.

    3. 60ZA. Levies towards meeting certain expenditure under this Act.

    4. 60ZB. Offences relating to state scheme premiums.

    5. 60ZC. Questions arising in proceedings.

    6. 60ZD. Recovery of unpaid state scheme premiums on prosecution.

    7. 60ZE. Proof of various offences.

    8. 60ZF. Unpaid premiums— supplementary.

    9. 60A. Treatment of insignificant amounts.

    10. 60B. Guaranteed minimum pensions attributable in part to period before 1988-1989.

    11. 61. Consultation about regulations.

    12. 61A. Consulation with Social Security Advisory Committee about certain regulations.

    13. 61B. Orders and regulations (general provisions).

    14. 62. Other provisions about regulations and orders.

    15. 63. Transitional provisions.

    16. 64. Expenses and receipts.

    17. 65. Amendments of enactments; repeals.

    18. 66. Interpretation.

    19. 67. Commencement.

    20. 68. Short title, citation and extent.

  8. SCHEDULES

    1. SCHEDULE 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. SCHEDULE 1A

      Revaluation of Pensions and Transfer values

      1. Part I Revaluation of Pensions

        1. 1.(1) This Part of this Schedule applies to any member...

        2. 2.(1) Subject to the following provisions of this Schedule, if...

        3. 3.(1) This paragraph applies to any benefit the rate or...

        4. 4.(1) This paragraph applies to any benefit the rate or...

        5. 5.(1) This paragraph applies to any benefit the rate or...

        6. 6.Nothing in paragraph 2, 3, 4 or 5 above is...

        7. 7.(1) Subject to sub-paragraph (2) below, this Part of this...

        8. 8.If under a scheme— (a) the amount of the pension...

        9. 9.In making any calculation for the purposes of this Part...

        10. 10.The same money may not be treated as providing both...

      2. Part II Transfer Values

        1. 11.(1) This Part of this Schedule applies to any member...

        2. 12.(1) Subject to the following provisions of this Schedule, a...

        3. 13.(1) A member who acquires a right to a cash...

        4. 14.(1) Cash equivalents are to be calculated and verified in...

        5. 15.(1) A member may only exercise the option conferred by...

        6. 16.(1) A member may only exercise the option conferred by...

        7. 17.(1) Subject to sub-paragraph (2) below, a member of a...

        8. 18.(1) Subject to sub-paragraph (2) below, this Part of this...

      3. Part III SUPPLEMENTARY

        1. 19.In making any calculation for the purposes of this Schedule—...

        2. 20.(1) The Secretary of State may by regulations direct that...

        3. 21.The Occupational Pensions Board may at any time, and shall...

        4. 22.(1) On an application made to them in respect of...

        5. 23.It is hereby declared that nothing in the foregoing provisions...

    3. SCHEDULE 2

      Contracting-Out Regulations

      1. General regulations

        1. 1.In relation to employments which are or at any time...

        2. 2.Regulations may enable the Occupational Pensions Board to determine, in...

        3. 3.Provision may be made by regulations for requiring an employer...

      2. Requisite benefits

        1. 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Modification of Part III in certain cases

        1. 5.(1) Regulations may modify the provisions of Part III of...

      4. State scheme premiums

        1. 6.(1) Regulations may make provision for requiring persons to furnish...

      5. Centralised schemes

        1. 7.(1) Regulations may modify sections 31 to 49 of this...

      6. Special provisions for certain public service pension schemes

        1. 8.(1) In relation to employments of any class to which...

      7. Incidental matters

        1. 9.Regulations may make provision for any incidental matters connected with...

    4. SCHEDULE 3

      Priority in Bankruptcy Etc.

      1. Earner’s contributions to occupational pension scheme

        1. 1.This Schedule applies to any sum owed on account of...

      2. Employer’s contributions to occupational pension scheme

        1. 2.(1) This Schedule applies to any sum owed on account...

      3. State scheme premiums

        1. 3.(1) This Schedule applies to any sum owed on account...

      4. Interpretation

        1. 4.Section 196(3) of the Companies Act 1985 and section 387...

    5. SCHEDULE 3A

      Annual Increase in Rate of Certain Occupational Pensions

      1. Interpretation

        1. 1.In this Schedule— “ annual rate ”, in relation to...

      2. Annual increase of later service component

        1. 2.(1) If, apart from this Schedule, the annual rate of...

      3. Annual increase of earlier service component where scheme is in surplus

        1. 3.(1) If on any valuation day the value of a...

      4. Proportional increases where first period is less than 12 months

        1. 4.(1) Where a pension commenced to be paid less than...

      5. Restriction on increases where member is under 55

        1. 5.(1) No increase under paragraph 2 or 3 above is...

      6. Application of Schedule to pensions not attributable to pensionable service

        1. 6.Regulations may provide that this Schedule (other than this paragraph)...

      7. Regulations

        1. 7.(1) The Secretary of State may by regulations direct that...

      8. Overriding effect of the increase provisions

        1. 8.The provisions of section 58A of this Act, this Schedule...

    6. SCHEDULE 4

      AMENDMENTS OF ENACTMENTS

      1. PART I CONSEQUENTIAL AND OTHER AMENDMENTS

        1. The Bankruptcy (Scotland) Act 1913

          1. 1.In section 118(1) of the Bankruptcy (Scotland) Act 1913 for...

        2. The Bankruptcy Act 1914

          1. 2.In the Bankruptcy Act 1914— (a) in section 33(1) for...

        3. The Companies Act 1948

          1. 3.In section 319(1)(e) of the Companies Act 1948 for the...

        4. The Law Reform (Personal Injuries) Act 1948

          1. 4.In section 2(1) of the Law Reform (Personal Injuries) Act...

        5. The Administration of Justice Act 1964

          1. 5.In section 17(2)(b) of the Administration of Justice Act 1964...

        6. The Family Allowances Act 1965

          1. 6.In section 8(3) of the Family Allowances Act 1965 after...

        7. The Supplementary Benefit Act 1966

          (The Ministry of Social Security Act 1966)

          1. 7.In section 16(1)(a) of the Supplementary Benefit Act 1966 after...

          2. 8.In section 26(4) of that Act after the words “Part...

          3. 9.In paragraph 24 of Schedule 2 to that Act—

        8. The Agriculture Act 1967

          1. 10.In section 67(3)(e) of the Agriculture Act 1967 after the...

        9. The Rent Act 1968

          1. 11.In section 40(3)(a) of the Rent Act 1968 for the...

        10. The Income and Corporation Taxes Act 1970

          1. 12.In section 8(2)(b) of the Income and Corporation Taxes Act...

        11. The Administration of Justice Act 1970

          1. 13.In Schedule 4 to the Administration of Justice Act 1970...

        12. The Family Income Supplements Act

          1. 14.In section 8(4) of the Family Income Supplements Act 1970...

        13. The Attachment of Earnings Act

          1. 15.In section 24(2) of the Attachment of Earnings Act 1971...

          2. 16.In Schedule 2 to that Act for paragraph 3 there...

          3. 17.In Schedule 4 to that Act for the words “The...

        14. The Pensions (Increase) Act 1971

          1. 18.In section 5(3) of the Pensions (Increase) Act 1971 for...

          2. 19.In section 15(4) of that Act for the words “section...

        15. The Finance Act 1971

          1. 20.In paragraph 1(b) of Schedule 4 to the Finance Act...

        16. The Housing (Financial Provisions) (Scotland) Act 1972

          1. 21.In Schedule 2 to the Housing (Financial Provisions) (Scotland) Act...

        17. The Housing Finance Act

          1. 22.In Schedule 3 to the Housing Finance Act 1972, in...

        18. The Social Security Act

          1. 23.In section 51(7)(a) of the Social Security Act 1973 for...

          2. 24.In section 63 of that Act— (a) in subsection (4)...

          3. 25.In section 64 of that Act— (a) in subsections (3)...

          4. 26.In section 66 of that Act— (a) in subsection (1)...

          5. 27.In section 67 of that Act— (a) in subsection (1)(a...

          6. 28.In section 69(2)(a) and (5) of that Act for the...

          7. 29.In section 86 of that Act— (a) in subsection (1)(a)...

          8. 30.In section 89(1) and (3)(b) of that Act for the...

          9. 31.In section 99(1) of that Act the following definitions shall...

          10. 32.In Schedule 16 to that Act— (a) in paragraph 4(2)...

          11. 33.In Schedule 17 to that Act, in paragraph 14, after...

        19. The Employment and Training Act 1973

          1. 34.In section 12(2)(a) of the Employment and Training Act 1973...

        20. The National Insurance Act 1974

          1. 35.In section 6(1) of the National Insurance Act 1974 there...

        21. The Social Security Act 1975

          1. 36.In section 4 of the Social Security Act 1975—

          2. 37.In section 12(1)(f) of that Act after the words “payable...

          3. 38.In section 13 of that Act— (a) in subsection (2),...

          4. 39.In section 14 of that Act— (a) for subsection (2)(c)...

          5. 40.In section 15 of that Act— (a) for subsection (2)(b)...

          6. 41.In section 25(1) of that Act for the words “at...

          7. 42.In section 26(1) of that Act for the words “at...

          8. 43.In section 28(1) of that Act for the words “at...

          9. 44.In section 29(7) of that Act in paragraph (a)(i) the...

          10. 45.In section 30(4)(b) of that Act there shall be inserted...

          11. 46.In section 33(3) of that Act after the words “Schedule...

          12. 47.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          13. 48.In section 42(3) of that Act after the words “Category...

          14. 49.In section 119(4) of that Act, after paragraph (c) there...

          15. 50.In section 120 of that Act— (a) in subsection (1)...

          16. 51.In section 125(1) of that Act, for paragraph (a) there...

          17. 52.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          18. 53.In section 143(1) of that Act, after paragraph (b) there...

          19. 54.In section 144(2)(c) of that Act after the words “contributions...

          20. 55.In section 145 of that Act— (a) in subsection (1)(a)...

          21. 56.In section 146(1) of that Act after the words “Act...

          22. 57.In section 148(1)(b) of that Act after “Revenue)” there shall...

          23. 58.In section 150(1) of that Act after the word “contribution”...

          24. 59.In section 151 of that Act— (a) in subsection (1)...

          25. 60.In section 152 of that Act for subsection (8) there...

          26. 61.In Schedule 1 to that Act, in paragraph 6(1)(f) for...

          27. 62.In Part I of Schedule 4 to that Act, for...

          28. 63.In Part V of Schedule 4 to that Act, in...

          29. 64.In Schedule 20 to that Act the following definitions shall...

        22. The Social Security (Consequential Provisions) Act 1975

          1. 65.In Schedule 3 to the Social Security (Consequential Provisions) Act...

      2. Part II MINOR CORRECTIONS OF 1975 CONSOLIDATION ACTS

        1. The Social Security Act 1975

          1. 66.In section 142(4)(b) of the Social Security Act 1975, for...

          2. 67.In section 152(2) of that Act, for the words “Criminal...

        2. The Social Security (Northern Ireland) Act 1975

          1. 68.In section 96(1) of the Social Security (Northern Ireland) Act...

          2. 69.In section 133(3)(b) of that Act, for the words “Northern...

          3. 70.In section 138(5) of that Act, for the word “paragraph”...

        3. The Social Security (Consequential Provisions) Act

          1. 71.In Schedule 3 to the Social Security (Consequential Provisions) Act...

    7. SCHEDULE 5

      REPEALS