11E+W+SLiability in respect of a pension credit shall be treated as discharged if the effect of paragraph 8(1) or 9 is to reduce it to zero.
Commencement Information
I1Sch. 5 para. 11 wholly in force at 1.12.2000; Sch. 5 para. 11 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 5 para. 11 in force at 1.12.2000 insofar as not already in force by S.I. 2000/1047, art. 2(2)(d), Sch. Pt. IV
12E+W+SLiability in respect of a pension credit may not be discharged otherwise than in accordance with this Schedule.
Commencement Information
I2Sch. 5 para. 12 wholly in force at 1.12.2000; Sch. 5 para. 12 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 5 para. 12 in force at 1.12.2000 insofar as not already in force by S.I. 2000/1047, art. 2(2)(d), Sch. Pt. IV
13E+W+SRegulations under paragraph 5(b) or 7(3) may provide for calculation of the value of rights in accordance with guidance from time to time prepared by a person specified in the regulations.
Commencement Information
I3Sch. 5 para. 13 wholly in force at 1.12.2000; Sch. 5 para. 13 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 5 para. 13 in force at 1.12.2000 insofar as not already in force by S.I. 2000/1047, art. 2(2)(d), Sch. Pt. IV
[F113AE+W+SThe provisions of this Schedule are subject to—
(a)section 73A(3) and (6) of the Pensions Act 1995 (prohibition on new members during winding up of scheme: exception for discharge of pension credit derived from the scheme), and
(b)section 133(2) and (8) of the Pensions Act 2004 (prohibition on new members during an assessment period in relation to a scheme: exception for discharge of pension credit derived from the scheme).]
Textual Amendments
F1Sch. 5 para. 13A inserted (6.4.2005) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 77(3); S.I. 2005/695, art. 2(7), Sch. 1
14E+W+SIn this Schedule—
“funded”, in relation to an occupational pension scheme, means that the scheme meets its liabilities out of a fund accumulated for the purpose during the life of the scheme;
“public service pension scheme” has the same meaning as in the M1Pension Schemes Act 1993.
Commencement Information
I4Sch. 5 para. 14 wholly in force at 1.12.2000; Sch. 5 para. 14 in force for certain purposes at Royal Assent see s. 89(1)(5); Sch. 5 para. 14 in force at 1.12.2000 insofar as not already in force by S.I. 2000/1047, art. 2(2)(d), Sch. Pt. IV
Marginal Citations