SCHEDULES

SCHEDULE 12E+W+SMinor and consequential amendments

Pension Schemes Act 1993 (c. 48)E+W+S

13(1)Section 94 (right to cash equivalent) is amended as follows.E+W+S

(2)In subsection (2), for the definition of “the applicable rules” substitute—

““the applicable rules” means—

(a)the rules of the scheme, except so far as overridden by a relevant legislative provision;

(b)the relevant legislative provisions, to the extent that they have effect in relation to the scheme and are not reflected in the rules of the scheme; and

(c)any provision which the rules of the scheme do not contain but which the scheme must contain if it is to conform with Chapter 1 of Part 4 of this Act;”.

(3)After that subsection insert—

“(2A)For the purposes of subsection (2)—

(a)“relevant legislative provision” means any provision contained in any of the following provisions—

(i)Schedule 5 to the Social Security Act 1989 (equal treatment for men and women);

(ii)this Chapter or Chapters 2, 3 or 5 of this Part of this Act or regulations made under this Chapter or any of those Chapters;

(iii)Part 4A of this Act or regulations made under that Part;

(iv)section 110(1) of this Act;

(v)Part 1 of the Pensions Act 1995 (occupational pensions) or subordinate legislation made or having effect as if made under that Part;

(vi)section 31 of the Welfare Reform and Pensions Act 1999 (pension debits: reduction of benefit);

(vii)any provision mentioned in section 306(2) of the Pensions Act 2004;

(b)a relevant legislative provision is to be taken to override any of the provisions of the scheme if, and only if, it does so by virtue of any of the following provisions—

(i)paragraph 3 of Schedule 5 to the Social Security Act 1989;

(ii)section 129(1) of this Act;

(iii)section 117(1) of the Pensions Act 1995;

(iv)section 31(4) of the Welfare Reform and Pensions Act 1999;

(v)section 306(1) of the Pensions Act 2004.”

Commencement Information