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SCHEDULES

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

Part 1Amendments having effect as from abolition date

Welfare Reform and Pensions Act 1999 (c. 30)

40In Schedule 5 to that Act (pension credits: mode of discharge) in paragraph 7(6) (disqualification as destination for pension credit) in the definition of “contracted-out rights”—

(a)in paragraph (a), omit “or (3)”;

(b)after paragraph (a) insert—

(ab)an occupational pension scheme constituting a money purchase contracted-out scheme for the purposes of that Act, or;

(c)in paragraph (b), for “which is” substitute “constituting”.