SCHEDULES

SCHEDULE 4Regulatory oversight

I122

1

Section 318 (interpretation) is amended as follows.

2

In subsection (1), after the definition of “occupational pension scheme” there is inserted—

“pension board” has the same meaning as in the Public Service Pensions Act 2013 (see section 5 of that Act);

3

After the definition of “professional adviser” in that subsection there is inserted—

“public service pension scheme” means, subject to subsection (6)—

a

a scheme under section 1 of the Public Service Pensions Act 2013 (new public service schemes);

b

a new public body pension scheme (within the meaning of that Act);

c

any statutory pension scheme which is connected with a scheme referred to in paragraph (a) or (b) (and for this purpose “statutory pension scheme” and “connected” have the meanings given in that Act);

4

After the definition of “the Regulator” in that subsection there is inserted—

“scheme manager”, in relation to a public service pension scheme, has the same meaning as in the Public Service Pensions Act 2013 (see section 4 of that Act);

5

After subsection (5) there is inserted—

6

A scheme which would otherwise fall within the definition of “public service pension scheme” in subsection (1) does not fall within that definition if—

a

it is an injury or compensation scheme (within the meaning of the Public Service Pensions Act 2013), or

b

it is specified in an order made by the Secretary of State after consulting the Treasury.