Part 1Pension scheme membership for jobholders
Chapter 1Employers' duties
Transitional
29Transitional periods for money purchase and personal pension schemes
(1)
During the first transitional period F1...—
(a)
sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “
1%
”
;
(b)
sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “
2%
”
.
(2)
The first transitional period is a prescribed period of at least one year, beginning with the coming into force of section 20.
(3)
During the second transitional period F2...—
(a)
sections 20(1)(b) and 26(4)(b) have effect as if for “3%” there were substituted “
2%
”
;
(b)
sections 20(1)(c) and 26(5)(b) have effect as if for “8%” there were substituted “
5%
”
.
(4)
The second transitional period is a prescribed period of at least one year, beginning with the end of the first transitional period.