SCHEDULES
I1C1C2SCHEDULE 4 Priority in Bankruptcy etc
Sch. 4 applied (with modifications) (21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 263(1) (with s. 247); S.I. 2009/296, art. 3, Sch. para. 2
Sch. 4 applied (with modifications) (21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1) (with s. 247); S.I. 2009/296, art. 3, Sch. para. 3
Earner’s contributions to occupational pension scheme
1
This Schedule applies to any sum owed on account of an earner’s contributions to an occupational pension scheme being contributions deducted from earnings paid in the period of four months immediately preceding the relevant date or otherwise due in respect of earnings paid or payable in that period.
Employer’s contributions to occupational pension scheme
2
1
F3This Schedule applies to any sum owed on account of an employer’s contributions to a salary related contracted-out scheme which were payable in the period of 12 months immediately preceding the relevant date.
1A
The amount of the debt having priority by virtue of sub-paragraph (1) shall be taken to be an amount equal to the appropriate amount.
F92
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F103
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F33A
In sub-paragraph (1A) F11... “the appropriate amount” means the aggregate of—
a
the percentage for non-contributing earners of the total reckonable earnings paid or payable, in the period of 12 months referred to in sub-paragraph (1) F12... , to or for the benefit of non-contributing earners; and
b
the percentage for contributing earners of the total reckonable earnings paid or payable, in that period, to or for the benefit of contributing earners.
4
For the purposes of F4sub-paragraph (3A)—
a
the earnings to be taken into account as reckonable earnings are those paid or payable to or for the benefit of earners in employment which is contracted-out by reference to the scheme in the whole or any part of the period of 12 months there mentioned; and
b
earners are to be identified as contributing or non-contributing in relation to service of theirs in employment which is contracted-out by reference to the scheme according to whether or not in the period in question they were liable under the terms of the scheme to contribute in respect of that service towards the provision of pensions under the scheme.
5
In this paragraph—
F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
“employer” shall be construed in accordance with regulations made under section 181(2); and
F1“the percentage for contributing earners” means F14... 3 per cent, F15...
F1“the percentage for non-contributing earners” means F16... 4.8 per cent, F17...
“reckonable earnings”, in relation to any employment, means the earner’s earnings from that employment so far as those earnings—
- a
were comprised in any payment of earnings made to him or for his benefit at a time when the employment was contracted-out employment; and
- b
exceeded the current lower earnings limit but not F7the upper accrual point.
- a
F86
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Interpretation
4
1
In this Schedule—
a
in its application in England and Wales, F6section 754(3) of the Companies Act 2006 and section 387 of the Insolvency Act 1986 apply as regards the meaning of the expression “the relevant date”; and
b
in its application in Scotland, that expression has the same meaning as inPart I of Schedule 3 to the M2Bankruptcy (Scotland) Act 1985.
2
In this Schedule references to a contracted-out scheme, contracted-out employment and a state scheme premium include references to a contracted-out scheme, contracted-out employment and a state scheme premium (other than a personal pension protected rights premium) within the meaning of any provisions in force in Northern Ireland and corresponding to the provisions of this Act.
Schs. 1-4 in force at 7.2.1994 by S.I. 1994/86, art. 2