C1C2C3C4C5Part III Certification of Pension Schemes and Effects on Members’ State Scheme Rights and Duties
Pt. III: power to modify conferred (1.6.1996 for specified purposes, 6.4.1997 in so far as not already in force) by Pensions Act 1995 (c. 26), ss. 149(1), 180(1); S.I. 1996/778, art. 2(6); S.I. 1997/664, art. 2(3), Sch. Pt. 2
Pt. III applied (with modifications) (6.4.1997) by The Occupational Pension Schemes (Mixed Benefit Contracted-out Schemes) Regulations 1996 (S.I. 1996/1977), regs. 1(1), 2(4)(a)-(f)
Pt. III: power to transfer functions conferred (1.4.1999) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), ss. 23, 28(3); S.I. 1999/527, art. 2(b), Sch. 2 (with arts. 3-6)
Chapter I Certification
Requirements for certification of occupational pension schemes providing guaranteed minimum pensions
24AF1Conversion of guaranteed minimum pension into other benefits: introduction
In this section and sections 24B to 24H—
a
the rules specified in sections 13(1)(a) and (b) and 17(1) are referred to as the “guaranteed minimum pension rules”,
b
“GMP conversion” means amendment of the scheme in relation to an earner so that it no longer contains the guaranteed minimum pension rules,
c
a “GMP-converted scheme” is a scheme which has been subject to GMP conversion,
d
“the conversion date” means the date on which that amendment takes effect,
e
“the pre-conversion benefits” means the benefits provided under the scheme immediately before the conversion date (disregarding money purchase benefits),
f
“the post-conversion benefits” means the benefits which are provided under the converted scheme (disregarding money purchase benefits),
g
“the converted scheme” means the scheme as it has effect immediately after conversion, and
h
“the trustees” in relation to a scheme means the trustees, managers or other persons responsible under the scheme for effecting amendments of it.
Pt. III power to modify conferred by Social Security Administration Act 1992 (c. 5), s. 148 (as read with Pensions Act 1995 (c. 26), ss. 128(3)(4), 180(2) (with s. 128(5)(6)); Child Support, Pensions and Social Security Act 2000 (c. 19), ss. 33(2)-(4), 86(1)(b)(2))