Part 9Miscellaneous and supplementary

General

307Modification of this Act in relation to certain categories of schemes

1

Regulations may modify any of the provisions mentioned in subsection (2) as it applies in relation to—

I2a

hybrid schemes;

I1b

multi-employer schemes;

I2c

any case where a partnership is the employer, or one of the employers, in relation to an occupational pension scheme.

2

The provisions referred to in subsection (1) are those of—

a

Part 1 (the Pensions Regulator),

b

Part 2 (the Board of the Pension Protection Fund), other than Chapter 1,

c

sections 257 and 258 (pension protection),

d

sections 259 and 261 (consultation by employers),

e

section 286 (financial assistance scheme for members of certain pension schemes), and

f

Part 7 (cross-border activities within European Union).

I13

Regulations may also modify any of the provisions of Part 2 as it applies in relation to an eligible scheme in respect of which a relevant public authority has—

a

given a guarantee in relation to any part of the scheme, any benefits payable under the scheme rules or any member of the scheme, or

b

made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities.

4

In this section—

  • “eligible scheme” has the meaning given by section 126;

  • “hybrid scheme” means an occupational pension scheme—

    1. a

      which is not a money purchase scheme, but

    2. b

      where some of the benefits that may be provided are—

      1. i

        money purchase benefits attributable to voluntary contributions of the members, or

      2. ii

        other money purchase benefits;

  • “multi-employer scheme” means an occupational pension scheme in relation to which there is more than one employer;

  • “relevant public authority” means—

    1. a

      a Minister of the Crown (within the meaning of the Ministers of the Crown Act 1975 (c. 26)),

    2. b

      a government department (including any body or authority exercising statutory functions on behalf of the Crown), or

    3. c

      the Scottish Ministers.