Part III E+W+S Certification of Pension Schemes and Effects on Members’ State Scheme Rights and Duties

Modifications etc. (not altering text)

C1 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))

C2 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

C3 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)

C4 Pt. III applied (with modifications) (6.4.1997) by The Contracting-out (Transfer and Transfer Payment) Regulations 1996 (S.I. 1996/1462), regs. 1(1), 12, 13, Sch. 2 (with reg. 14, Sch. 4)

Chapter III E+W+S Termination of contracted-out or appropriate scheme status: state scheme premiums

State scheme premiums E+W+S

63 Further provisions concerning calculations relating to premiums. E+W+S

(1) The following amounts shall be certified by the [F1 Secretary of State] [F1 Inland Revenue]—

(a) [F2 the costs mentioned in subsections (1), (2) and (6) of section 58,]

(b) the amount of the difference mentioned in subsection (4) of [F3 section 58],

(c) [F4 the cost of providing the appropriate percentage of the guaranteed minimum pension for the purposes of section 60, and]

(d) the amount mentioned in section 61(2).

(2) [F5 The cash equivalents mentioned in section 58(3) and section 60(7)(a) shall be calculated and verified in the prescribed manner.]

(3) If the [F1 Secretary of State] [F1 Inland Revenue]—

(a) [F6 cannot readily ascertain the amount of any earnings in any tax week relevant for determining the costs referred to in subsection (1) or (2) of section 58, or]

(b) [F7 is satisfied] [F7 are satisfied] that records of earnings relevant for determining the amount mentioned in [F8 section 58(4)] have not been maintained or retained or are otherwise unobtainable,

then [F7 he may] [F7 they may] for that purpose—

(i) compute, in such manner as [F7 he thinks] [F7 they think] fit, an amount which shall be regarded as the amount of those earnings; or

(ii) take their amount to be such sum as he may specify in the particular case,

[F9 and [F7 he may] [F7 they may] certify the costs referred to in section 58(1) and (2) accordingly.]

(4) [F10 Where the [F1 Secretary of State] [F1 Inland Revenue] subsequently ascertains the amount of such earnings as are mentioned in paragraph (a) of subsection (3)—

(a) if it appears to him that the amount of the accrued rights premium or, as the case may be, the pensioner’s rights premium would have been less if he had not made the calculation on the basis described in subsection (3), he shall refund the difference to the prescribed person, and

(b) if it appears to the [F1 Secretary of State] [F1 Inland Revenue] that that premium would have been greater if he had not made the calculation on that basis, the prescribed person shall pay the difference to him.]

(5) For the purposes of subsection (1) the [F1 Secretary of State] [F1 Inland Revenue] may make such adjustments as [F11 he thinks] [F11 they think] necessary for avoiding fractional amounts.

Textual Amendments

F1 Words in s. 63 substituted (25.2.1999 for specified purposes) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(2)(a), Sch. 1 para. 56(2); S.I. 1999/527, art. 2(b), Sch. 2 (with arts. 3-6)

F2 S. 63(1)(a) repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(a)(i), Sch. 7 Pt. III; S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F3 Words in s. 63(1)(b) substituted (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(a)(ii); S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F4 S. 63(1)(c) repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(a)(iii), Sch. 7 Pt. III; S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F5 S. 63(2) repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(b), Sch. 7 Pt. III; S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F6 S. 63(3)(a) repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(c)(i), Sch. 7 Pt. III; S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F7 Words in s. 63(3) substituted (25.2.1999 for specified purposes) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(2)(a), Sch. 1 para. 56(3); S.I. 1999/527, art. 2(b), Sch. 2 (with arts. 3-6)

F8 Words in s. 63(3)(b) substituted (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(c)(ii); S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F9 Words in s. 63(3) repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(c)(iii), Sch. 7 Pt. III; S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F10 S. 63(4) repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 5 para. 57(d), Sch. 7 Pt. III; S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 4(2)(3))

F11 Words in s. 63(5) substituted (25.2.1999 for specified purposes) by Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2), s. 28(2)(a), Sch. 1 para. 56(4); S.I. 1999/527, art. 2(b), Sch. 2 (with arts. 3-6)

Commencement Information

I1 Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2