SCHEDULES

SCHEDULE 4Abolition of contracting-out for defined contribution pension schemes

Part 1Amendments having effect as from abolition date

Pension Schemes Act 1993 (c. 48)

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1

Section 181 (general interpretation) is amended as follows.

2

In subsection (1)—

a

at the appropriate places insert—

“abolition date” means the day appointed for the commencement of section 15(1) of the Pensions Act 2007;

“HMRC” means the Commissioners for Her Majesty's Revenue and Customs;

b

for the definition of “appropriate scheme certificate” and references to an appropriate scheme, substitute—

“appropriate scheme” and “appropriate scheme certificate” are to be construed in accordance with section 181A;

c

in the definition of “contracting-out certificate” and references to contracted-out scheme and to contracting-out, at the end insert “and section 181A”;

d

for the definition of “money purchase contracted-out scheme” substitute—

“money purchase contracted-out scheme” is to be construed in accordance with section 181A;

3

In subsection (4) (regulations may prescribe the persons who are to be regarded as members or prospective members of an occupational scheme etc.) omit “, 44”.