Pensions Act 2014

Part 1State pension

State pension at the full or reduced rate

2Entitlement to state pension at full or reduced rate

3Full and reduced rates of state pension

State pension at the transitional rate

4Entitlement to state pension at transitional rate

5Transitional rate of state pension

6Recalculation and backdating of transitional rate in special cases

Transitional entitlement based on contributions of others

7Survivor's pension based on inheritance of additional old state pension

8Choice of lump sum or survivor's pension under section 9 in certain cases

9Survivor's pension based on inheritance of deferred old state pension

10Inheritance of graduated retirement benefit

Transition: women who have had a reduced rate election

11Reduced rate elections: effect on section 4 pensions

12Reduced rate elections: pension for women with no section 4 pension

Transition: pension sharing on divorce etc

13Shared state pension on divorce etc

14Pension sharing: reduction in the sharer's section 4 pension

15Pension sharing: amendments

Postponing or suspending state pension

16Pensioner's option to suspend state pension

17Effect of pensioner postponing or suspending state pension

18Section 17 supplementary: calculating weeks, overseas residents, etc

Prisoners and overseas residents

20Overseas residents

21“Old state pension”

22General definitions etc

Consequential and other amendments

24Abolition of contracting-out for salary related schemes etc

Part 2Option to boost old retirement pensions

25Option to boost old retirement pensions

Part 3Pensionable age

26Increase in pensionable age to 67

27Periodic review of rules about pensionable age

Part 4State pension credit

28State pension credit: phasing out assessed income periods

29Preserving indefinite status of certain existing assessed income periods

Part 5Bereavement support payment

30Bereavement support payment

31Bereavement support payment: contribution condition and amendments

32Bereavement support payment: prisoners

Part 6Private pensions

Transfer of pension benefits

33Automatic transfer of pension benefits etc

34Power to prohibit offer of incentives to transfer pension rights

35Expiry of power in section 34

36Short service benefit for scheme member with money purchase benefits

Automatic enrolment

37Automatic re-enrolment: exceptions where automatic enrolment deferred

38Automatic enrolment: powers to create general exceptions

39Alternative quality requirements for UK defined benefits schemes

40Automatic enrolment: transitional period for hybrid schemes

41Penalty notices under sections 40 and 41 of the Pensions Act 2008 etc

42Unpaid scheme contributions

43Power to restrict charges or impose requirements in relation to schemes

44Disclosure of information about transaction costs to members etc

45Power to require pension levies to be paid in respect of past periods

46Prohibition and suspension orders: directors of corporate trustees

47Preparation of guidance for pensions illustrations

48Pensions Regulator's objectives

49Maximum period between scheme returns to be 5 years for micro schemes

50Pension Protection Fund: increased compensation cap for long service

51Pension Protection Fund: compensation cap to apply separately to certain benefits

52Public service pension schemes: transitional arrangements

Part 7Final provisions

53Power to make consequential amendments etc

54Regulations and orders

SCHEDULE 1Transitional rate of state pension: calculating the amount

Part 1Introduction

1(1) This Schedule sets out how to calculate the amounts...

Part 2Amount for pre-commencement qualifying years

How to calculate the amount for pre-commencement qualifying years

2A person's amount for pre-commencement qualifying years is calculated as...

Step 1: calculation of the person's pension under the old system

3(1) For the purposes of Step 1 of the calculation...

Step 2: calculation of a pension based on the new system

4(1) For the purposes of Step 2 of the calculation...

5(1) In paragraph 4(2) and (3) references to an “amount...

Step 4: revaluation

6(1) This paragraph determines how the amount mentioned in Step...

Part 3Amount for post-commencement qualifying years

7(1) A person's amount for post-commencement qualifying years (if any)...

SCHEDULE 2Transitional rate of state pension: up-rating

1This Schedule sets out how to up-rate the transitional rate...

2In this Schedule a reference to the transitional rate of...

3(1) The transitional rate of a person's state pension is...

4(1) The transitional rate of a person's state pension is...

SCHEDULE 3Survivor's pension under section 7: inherited amount

1This Schedule— (a) sets out the circumstances in which a...

Dead spouse or civil partner in old state pension system etc

2(1) A pensioner whose spouse or civil partner has died...

3(1) A pensioner whose spouse or civil partner has died...

4(1) A pensioner whose spouse or civil partner has died...

Dead spouse or civil partner in new state pension system

5(1) A pensioner whose spouse or civil partner has died...

6(1) A pensioner whose spouse or civil partner has died...

7(1) A pensioner whose spouse or civil partner has died...

8(1) A pensioner whose spouse or civil partner has died...

Supplementary

9When determining entitlement to, or calculating, an inherited amount under...

SCHEDULE 4Survivor's pension under section 7: up-rating

1This Schedule sets out how to up-rate the rate of...

2In this Schedule a reference to the rate of a...

3In this Schedule a reference to “the amount of any...

Rate of section 7 pension, when added to any priority pension, is less than the full rate

4(1) The rate of the person's state pension under section...

Rate of section 7 pension, when added to any priority pension, straddles the full rate

5(1) The rate of the person's state pension under section...

Priority pension alone is equal to or higher than the full rate

6(1) The rate of the person's state pension under section...

SCHEDULE 5Survivor's pension under section 9: inherited deferral amount

1This Schedule— (a) sets out the circumstances in which a...

Dead spouse or civil partner entitled to old state pension with deferral increase

2(1) A pensioner whose spouse or civil partner has died...

Dead spouse or civil partner's entitlement to old state pension deferred at time of death

3(1) A pensioner whose spouse or civil partner has died...

“The relevant provisions” of the Contributions and Benefits Act

4For the purposes of this Schedule “the relevant provisions” of...

Supplementary

5When determining entitlement to, or calculating, an inherited deferral amount...

SCHEDULE 6Reduced rate elections: effect on rate of section 4 pension

1This Schedule modifies the rules about the transitional rate of...

Increased transitional rate for woman married to person over pensionable age etc

2(1) This paragraph applies to the woman if on reaching...

Increased transitional rate for widows or divorcees etc

3(1) This paragraph applies to the woman if on reaching...

Recalculation of transitional rate where circumstances change

4(1) If the woman is married or in a civil...

5(1) If neither of paragraphs 2 and 3 apply to...

6Nothing in paragraph 4 or 5 affects—

SCHEDULE 7Reduced rate elections: basic amount of state pension under section 12

1This Schedule— (a) sets out the circumstances in which a...

2(1) A woman is entitled to a basic amount under...

3(1) A woman is entitled to a basic amount under...

4A woman who is entitled to a basic amount under...

SCHEDULE 8Pension sharing: appropriate weekly rate under section 13

1This Schedule sets out the appropriate weekly rate of a...

Appropriate weekly rate for pensioner with old state scheme pension credit

2(1) This paragraph sets out the appropriate weekly rate if...

Appropriate weekly rate for pensioner with new state scheme pension credit

3(1) This paragraph sets out the appropriate weekly rate if...

Supplementary

4(1) Regulations may make provision about the calculation and verification...

SCHEDULE 9Pension sharing: up-rating state pension under section 13

1This Schedule sets out how to up-rate the rate of...

2In this Schedule a reference to the rate of a...

3(1) In this Schedule “the total amount of any state...

Rate of section 13 pension, when added to any priority pension, is less than the full rate

4(1) The rate of the person's state pension under section...

Rate of section 13 pension, when added to any priority pension, straddles the full rate

5(1) The rate of the person's state pension under section...

Priority pension alone is equal to or higher than the full rate

6(1) The rate of the person's state pension under section...

SCHEDULE 10Pension sharing: appropriate weekly reduction under section 14

1This Schedule sets out the appropriate weekly reduction in the...

Appropriate weekly reduction for person subject to old state scheme pension debit

2(1) This paragraph sets out the appropriate weekly reduction if...

Appropriate weekly reduction for person subject to new state scheme pension debit

3(1) This paragraph sets out the appropriate weekly reduction if...

Supplementary

4(1) Regulations may make provision about the calculation and verification...

SCHEDULE 11Pension sharing: amendments

Family Law (Scotland) Act 1985 (c. 37)

1In section 27 of the Family Law (Scotland) Act 1985...

Social Security Contributions and Benefits Act 1992 (c. 4)

2The Contributions and Benefits Act is amended as follows.

3In section 21 (contribution conditions), in subsection (1), after “section...

4In section 43 (persons entitled to more than one retirement...

5(1) Section 55A (shared additional pension) is amended as follows....

6After section 55A insert— Shared additional pension because of a...

7(1) Section 55B (reduction of additional pension in Category A...

Social Security Administration Act 1992 (c. 5)

8In the Administration Act, after section 148AC (inserted by Schedule...

Welfare Reform and Pensions Act 1999 (c. 30)

9The Welfare Reform and Pensions Act 1999 is amended as...

10(1) Section 47 (shareable state scheme rights) is amended as...

11In section 48 (activation of benefit sharing), in subsection (1),...

12(1) Section 49 (creation of state scheme pension debits and...

13After section 49 insert— Creation of debits and credits: transferor...

14(1) Section 51 (interpretation) is amended as follows.

State Pension Credit Act 2002 (c. 16)

15In section 16 of the State Pension Credit Act 2002...

Gender Recognition Act 2004 (c. 7)

16In Schedule 5 to the Gender Recognition Act 2004 (benefits...

SCHEDULE 12State pension: amendments

Part 1Amendments to do with new state pension system

Forfeiture Act 1982 (c. 34)

1In section 4 of the Forfeiture Act 1982 (Upper Tribunal...

Social Security Contributions and Benefits Act 1992 (c. 4)

2The Contributions and Benefits Act is amended as follows.

3In section 1 (outline of contributory system), in subsection (1)(a),...

4In section 13 (Class 3 contributions), in subsection (2), omit...

5After section 19A insert— Extended meaning of “benefit” etc in...

6(1) Section 22 (earnings factors) is amended as follows.

7In section 122(1) (interpretation), in the definition of “benefit”, after...

Social Security Administration Act 1992 (c. 5)

8The Administration Act is amended as follows.

9In section 1 (entitlement to benefit dependent on claim), in...

10In section 5 (regulations about claims for and payments of...

11In section 71 (overpayments - general), in subsection (11), before...

12In section 73 (overlapping benefits - general)—

13In section 121DA (interpretation of Part 6), in subsection (1),...

14In section 122B (supply of other government information for fraud...

15In section 124 (age, death and marriage), in subsection (1),...

16In section 125 (regulations as to notification of deaths), in...

17After section 148AB insert— Revaluation for transitional pensions under Pensions...

18In section 150 (annual up-rating of benefits), in subsection (1),...

19In section 150A (annual up-rating), in subsection (1), before paragraph...

20In section 151 (up-rating: supplementary), in subsection (2)—

21After section 151 insert— Up-rating of transitional state pensions under...

22(1) Section 155A (power to anticipate pensions up-rating order) is...

23(1) Section 163 (general financial arrangements) is amended as follows....

24In section 170 (Social Security Advisory Committee), in subsection (5)—...

25(1) Section 179 (reciprocal agreements) is amended as follows.

26In section 187 (inalienability), in subsection (1), after paragraph (za)...

27In section 190 (parliamentary control of orders and regulations), in...

28In section 191 (interpretation), in the definition of “benefit”, after...

Social Security Act 1993 (c. 3)

29In section 2 of the Social Security Act 1993 (payments...

Pensions Act 1995 (c. 26)

30In Schedule 4 to the Pensions Act 1995 (pensionable age),...

Social Security Act 1998 (c. 14)

31The Social Security Act 1998 is amended as follows.

32In section 2 (use of computers), in subsection (2)—

33In section 8 (decisions by Secretary of State)—

34In section 11 (regulations with respect to decisions), in subsection...

35In section 27 (restrictions on entitlement to benefit in certain...

36In section 28 (correction of errors in decisions etc), in...

37In Schedule 3 (decisions against which an appeal lies), after...

Child Support, Pensions and Social Security Act 2000 (c. 19)

38(1) Section 42 of the Child Support, Pensions and Social...

Social Security Fraud Act 2001 (c. 11)

39The Social Security Fraud Act 2001 is amended as follows....

40In section 6A (definitions), in subsection (1)—

41In section 10 (power to supplement and mitigate loss of...

State Pension Credit Act 2002 (c. 16)

42The State Pension Credit Act 2002 is amended as follows....

43In section 7 (fixing of claimant's retirement provision for assessed...

44In section 16 (meaning of “retirement pension income”), in subsection...

Income Tax (Earnings and Pensions) Act 2003 (c. 1)

45In section 577 of the Income Tax (Earnings and Pensions)...

Gender Recognition Act 2004 (c. 7)

46The Gender Recognition Act 2004 is amended as follows.

47In section 23 of that Act (power to modify statutory...

48(1) Schedule 5 (benefits and pensions) is amended as follows....

Finance (No. 2) Act 2005 (c. 22)

49The Finance (No. 2) Act 2005 is amended as follows....

50(1) Section 8 (meaning of “applicable year of assessment” in...

51In section 9 (interpretation), in the definition of “state pension...

Welfare Reform Act 2012 (c. 5)

52In section 96 of the Welfare Reform Act 2012 (benefit...

Part 2Amendments to do with old state pension system

Graduated retirement benefit

53(1) Section 36 of the National Insurance Act 1965 (graduated...

Category A retirement pensions

54The Contributions and Benefits Act is amended as follows.

55In section 44(1) (Category A retirement pensions), for paragraph (a)...

56(1) Section 48 (use of former spouse's contributions) is amended...

Category B retirement pensions

57The Contributions and Benefits Act is amended as follows.

58In section 23A (contributions credits for relevant parents and carers),...

59In section 46 (modification of section 45 for calculating additional...

60For section 48A substitute— Category B retirement pension for married...

61(1) Section 48B (Category B retirement pension for widows and...

62(1) Section 48BB (Category B retirement pension: entitlement by reference...

63(1) Section 48C (Category B retirement pension: general) is amended...

64For section 51 substitute— Category B retirement pension for widows,...

65After section 51 insert— Special provision for married person whose...

66In section 52(3) (special provision for surviving spouses) for “prescribed...

67(1) Schedule 3 (contribution conditions for entitlement to benefit) is...

68In Part 1 of Schedule 4 (rates of certain benefits),...

69In Schedule 4A (additional pension: accrual rates for purposes of...

70In section 150 of the Administration Act (annual up-rating of...

71In section 46 of the Pension Schemes Act 1993 (effect...

72In section 128 of the Pensions Act 1995 (additional pension:...

73In Schedule 4 to the Pensions Act 1995 (equalisation of,...

74In section 577 of the Income Tax (Earnings and Pensions)...

75In Schedule 24 to the Civil Partnership Act 2004, omit...

76In Schedule 5 to the Gender Recognition Act 2004 (benefits...

77In Schedule 4 to the Marriage (Same Sex Couples) Act...

Category C retirement pensions: repeal of spent provisions

78The Contributions and Benefits Act is amended as follows.

79In section 63(f)(i) (descriptions of non-contributory benefits), for the words...

80(1) Section 78 (Category C retirement pensions etc) is amended...

81In Part 3 of Schedule 4 —

82In section 150A of the Administration Act (annual up-rating), in...

83In Schedule 5 to the Gender Recognition Act 2004 (benefits...

Category D retirement pensions

84In section 78(3) of the Contributions and Benefits Act (entitlement...

85In sections 63(g) and 79(1) of the Contributions and Benefits...

Christmas bonus

86In section 150(2) of the Contributions and Benefits Act (Christmas...

Transition: same sex marriages

87(1) If marriage of same sex couples is not lawful...

Part 3Amendments to do with state pension credit

88The State Pension Credit Act 2002 is amended as follows....

89In section 3 (savings credit), for subsection (1) substitute—

90After that section insert— Power to limit savings credit for...

91In Schedule 1 to the Pensions Act 2007, omit paragraph...

Part 4Other amendments to do with Part 1

Social Security Contributions and Benefits Act 1992 (c. 4)

92The Contributions and Benefits Act is amended as follows.

93(1) Section 39C (rate of widowed parent's allowance and bereavement...

94(1) Schedule 5 (pension increase or lump sum where entitlement...

Pension Schemes Act 1993 (c. 48)

95Section 46A of the Pension Schemes Act 1993 (retirement in...

Pensions Act 2008 (c. 30)

96In the Pensions Act 2008, the following are repealed—

Pensions Act 2011 (c. 19)

97In the Pensions Act 2011, the following are repealed—

SCHEDULE 13Abolition of contracting-out for salary related schemes

Part 1Pension Schemes Act 1993: amendments

1The Pension Schemes Act 1993 is amended as follows.

2For “the abolition date” (in each place) substitute “ the...

3In the heading for Part 3 of the Act—

4For the heading to Chapter 1 of Part 3 substitute...

5Section 7 (issue of contracting-out certificates) is repealed (and accordingly,...

6After section 7 insert— Meaning of “the first abolition date”...

7(1) Section 8 (meaning of “contracted-out employment”, “guaranteed minimum pension”...

8The italic heading above section 9 is repealed.

9Sections 9 and 11 (requirements for certification of schemes: general)...

10The italic heading above section 12A is repealed.

11Sections 12A to 12D (requirements for certification applying to employment...

12For the italic heading above section 13 substitute “ Guaranteed...

13(1) Before section 13 insert— Former salary related contracted-out schemes...

14In section 13 (minimum pensions for earners), in subsection (2)—...

15(1) Section 14 (earner's guaranteed minimum) is amended as follows....

16In section 16 (revaluation of earnings factors for the purposes...

17(1) Section 17 (minimum pensions for widows, widowers and surviving...

18In section 20 (transfer of accrued rights), in subsection (1)(a)—...

19In section 23 (securing of benefits), in subsection (2), omit...

20In section 24A— (a) the existing text becomes subsection (1),...

21In section 25 (power for HMRC to impose conditions as...

22Sections 34 to 36 (cancellation, variation, surrender and refusal of...

23In the italic heading above section 37, for “scheme rules...

24In section 37 (alteration of rules of contracted-out schemes) for...

25After section 37 insert— Transfer of liabilities etc: schemes contracted-out...

26For the heading to Chapter 2 of Part 3 substitute...

27In section 40 (scope of Chapter 2)—

28The italic heading above section 41 is repealed.

29Section 41 (reduced rates of Class 1 contributions) is repealed....

30(1) Section 42 (review and alteration of reduced rates of...

31In section 48A (additional pension and other benefits), in subsection...

32Section 49 (women, married women and widows) is repealed.

33Section 50 (powers of HMRC to approve arrangements for scheme...

34In section 51 (calculation of guaranteed minimum pensions under approved...

35For section 52 substitute— Supervision of former salary related contracted-out...

36In section 53 (supervision: former contracted-out schemes), omit subsection (3)....

37Sections 55 to 68 (state scheme premiums) are repealed.

38In section 87 (general protection principle), in subsection (1)(a), for...

39In section 96 (further provisions concerning exercise of option to...

40In section 109 (annual increase of guaranteed minimum pensions), in...

41In section 171 (questions arising in proceedings), in subsection (1),...

42In section 178 (trustees and managers of schemes), in paragraph...

43(1) Section 181(1) (general interpretation) is amended as follows.

44Section 181A (interpretation of references to money purchase contracted-out schemes...

45In section 185 (consultation about other regulations), omit subsection (9)....

46(1) Schedule 2 (certification regulations) is amended as follows.

47(1) Schedule 4 (priority in bankruptcy) is amended as follows....

Part 2Other Acts: amendments

Social Security Contributions and Benefits Act 1992 (c. 4)

48The Contributions and Benefits Act is amended as follows.

49In section 1 (outline of contributory system), in subsection (3),...

50In section 4C (power to make provision in consequence of...

51In section 8 (calculation of primary Class 1 contributions), in...

52In section 9 (calculation of secondary Class 1 contributions), in...

53In section 20 (descriptions of contributory benefits), in subsection (3),...

54In Schedule 1 (supplementary provisions relating to national insurance contributions),...

Social Security Administration Act 1992 (c. 5)

55The Administration Act is amended as follows.

56In section 150 (annual up-rating of benefits), in subsection (10A),...

57In section 191 (interpretation - general)— (a) in the definition...

Pensions Act 1995 (c. 26)

58The Pensions Act 1995 is amended as follows.

59(1) Section 51 (annual increase in rate of pension) is...

60In section 54 (sections 51 to 53: supplementary), in subsection...

61For section 69 substitute— Grounds for applying for modifications: winding...

62In section 70 (section 69: supplementary), omit subsection (3).

63In section 71 (effect of orders under section 69), in...

65Sections 136(1), (3) and (5), 137(3) and (4) and 148...

Employment Rights Act 1996 (c. 18)

66The Employment Rights Act 1996 is amended as follows.

67In section 3 (note to be included in statement of...

68In section 11 (references to employment tribunals), in subsection (3),...

Child Support, Pensions and Social Security Act 2000 (c. 19)

69The Child Support, Pensions and Social Security Act 2000 is...

70(1) Section 42 (disclosure of state pension information) is amended...

71Part 2 of Schedule 5 (alternative to anti-franking rules) is...

Employment Act 2002 (c. 22)

72In section 15 of the Employment Act 2002 (use of...

Pensions Act 2004 (c. 35)

73In section 258 of the Pensions Act 2004 (pension protection...

Companies Act 2006 (c. 46)

74The Companies Act 2006 is amended as follows.

75In section 140 (interests to be disregarded: employer's rights of...

76In section 673 (interests to be disregarded in determining whether...

Pensions Act 2007 (c. 22)

77The Pensions Act 2007 is amended as follows.

78(1) Section 15 (abolition of contracting-out for defined contribution pension...

79In section 27 (consequential provision, repeals and revocations), in subsection...

80(1) Schedule 4 (abolition of contracting-out for defined contribution pension...

Pensions Act 2008 (c. 30)

81The Pensions Act 2008 is amended as follows.

82For section 21 substitute— Quality requirement: UK defined benefits schemes...

83In section 22 (test scheme standard), for subsection (2) substitute—...

SCHEDULE 14Power to amend schemes to reflect abolition of contracting-out

1This Schedule is about the power under section 24(2) to...

What can the power be used to do?

2(1) The power may be used— (a) to increase the...

3(1) The power may not be used in a way...

4Regulations may impose further restrictions on the use of the...

Creation of exceptions

5The power may not be used to amend a scheme...

Requirement for actuary's certificate

6(1) The power may be used only if an actuary...

When can the power be used?

7The power may be used before or after the repeal...

8An amendment made before the repeal of section 41 of...

Can the power be used more than once?

9(1) The power may be used to amend a scheme...

Modifications for multi-employer or sectionalised schemes

10(1) Regulations may modify section 24(2) to (7) or this...

The power overrides other legislation

11An amendment under section 24 and this Schedule may be...

Procedural requirements and supplementary matters

12Regulations may impose procedural requirements about the use of the...

13Regulations under this Schedule may confer a discretion on a...

14(1) Regulations may require the trustees or managers of an...

15In this Schedule— “employee contributions” means, in relation to a...

SCHEDULE 15Option to boost old retirement pensions

Part 1Great Britain

Social Security Contributions and Benefits Act 1992 (c. 4)

1The Social Security Contributions and Benefits Act 1992 is amended...

2(1) Section 1 (outline of contributory system) is amended as...

3After section 14 insert— Class 3A contributions Class 3A contributions...

4If paragraph 3 comes into force before the day mentioned...

5In section 43 (persons entitled to more than one retirement...

6In section 44 (Category A retirement pension), in subsection (3)—...

7(1) Section 45 (rate of additional pension in a Category...

8In section 52 (special provision for surviving spouses), after subsection...

9After section 61 insert— Shortfall in contributions: people with units...

10In section 122 (interpretation), in subsection (1), at the appropriate...

11In section 176 (parliamentary control), in subsection (1)(a), at the...

12In the heading to Schedule 1, for “and 3” substitute...

Social Security Administration Act 1992 (c. 5)

13(1) Section 162 of the Social Security Administration Act 1992...

Welfare Reform and Pensions Act 1999 (c. 30)

14In section 47 of the Welfare Reform and Pensions Act...

Part 2Northern Ireland

Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7)

15The Social Security Contributions and Benefits (Northern Ireland) Act 1992...

16(1) Section 1 (outline of contributory system) is amended as...

17After section 14 insert— Class 3A contributions Class 3A contributions...

18(1) If paragraph 17 comes into force before the new...

19In section 121 (interpretation), in subsection (1), at the appropriate...

20In section 172 (procedure for regulations etc), in subsection (11A),...

21In the heading to Schedule 1, for “and 3” substitute...

Social Security Administration (Northern Ireland) Act 1992 (c. 8)

22(1) Section 142 of the Social Security Administration (Northern Ireland)...

SCHEDULE 16Bereavement support payment: amendments

Forfeiture Act 1982 (c. 34)

1In section 4 of the Forfeiture Act 1982 (Upper Tribunal...

Social Security Contributions and Benefits Act 1992 (c. 4)

2The Social Security Contributions and Benefits Act 1992 is amended...

3(1) Section 20 (descriptions of contributory benefits) is amended as...

4(1) Section 21 (contribution conditions) is amended as follows.

5In section 22 (earnings factors), in subsection (2), after paragraph...

6(1) Section 23A (contributions credits for relevant parents and carers)...

7For the italic heading above section 36 substitute “ Bereavement...

8Section 36 (bereavement payment) is repealed.

9Section 36A (cases in which sections 37 to 41 apply)...

10(1) Section 37 (widowed mother's allowance) is amended as follows....

11(1) Section 38 (widow's pension) is amended as follows.

12In section 39A (widowed parent's allowance), for subsection (1) substitute—...

13Section 39B (bereavement allowance where no dependent children) is repealed....

14(1) Section 39C (rate of widowed parent's allowance and bereavement...

15In section 48B (Category B retirement pension for widows and...

16In section 48BB (Category B retirement pension: entitlement by reference...

17(1) Section 60 (complete or partial failure to satisfy contribution...

18(1) Schedule 3 (contribution conditions for entitlement to benefit) is...

19In Schedule 4 (rates of benefits etc) omit Part 2....

Social Security Administration Act 1992 (c. 5)

20The Social Security Administration Act 1992 is amended as follows....

21(1) Section 1 (entitlement to benefit dependent on claim) is...

22In section 2A (claim or full entitlement to certain benefits...

23(1) Section 3 (late claims for bereavement benefit where death...

24In section 5 (regulations about claims for and payments of...

25In section 71 (overpayments - general), in subsection (11), after...

26In section 121DA (interpretation of Part 6), in subsection (1),...

27In section 122B (supply of other government information for fraud...

28In section 124 (age, death and marriage), in subsection (1),...

29In section 125 (regulations as to notification of deaths), in...

30In section 150 (annual up-rating of benefits), in subsection (1),...

31(1) Section 163 (general financial arrangements) is amended as follows....

32In section 170 (Social Security Advisory Committee), in subsection (5)—...

33(1) Section 179 (reciprocal agreements) is amended as follows.

34In section 187 (inalienability), in subsection (1), after paragraph (ad)...

35In section 191 (interpretation), in the definition of “benefit”, for...

Social Security Act 1993 (c. 3)

36In section 2 of the Social Security Act 1993 (payments...

Social Security Act 1998 (c. 14)

37The Social Security Act 1998 is amended as follows.

38In section 2 (use of computers), in subsection (2), after...

39(1) Section 8 (decisions by Secretary of State) is amended...

40In section 11 (regulations with respect to decisions), in subsection...

41In section 27 (restriction on entitlement in cases of error),...

42In section 28 (correction of errors in decisions etc), in...

Social Security Fraud Act 2001 (c. 11)

43The Social Security Fraud Act 2001 is amended as follows....

44In section 6A (definitions), in subsection (1), in the definition...

45In section 10 (power to supplement and mitigate loss of...

Income Tax (Earnings and Pensions) Act 2003 (c. 1)

46The Income Tax (Earnings and Pensions) Act 2003 is amended...

47In section 660 (taxable benefits: UK benefits - Table A),...

48In section 677 (UK social security benefits wholly exempt from...

SCHEDULE 17Automatic transfer of pension benefits etc

Part 1Automatic transfer of pension benefits

Regulations providing for transfer of cash equivalent of transferable benefits

1(1) The Secretary of State must make regulations with a...

Automatic transfer scheme to find out whether members have transferable benefits

2(1) The regulations must require the trustees or managers of...

Automatic transfer scheme to request transfer of cash equivalent

3(1) The regulations must require the trustees or managers of...

Right to opt out of automatic transfer

4(1) If the regulations do not include the condition mentioned...

Information to be given to qualifying members of automatic transfer schemes

5(1) The regulations must require a prescribed person to give...

Transferable benefits scheme to comply with request

6(1) The regulations must require the trustees or managers of...

Automatic transfer scheme to use cash equivalent to provide rights under the scheme

7(1) The regulations must require the trustees or managers of...

Cash equivalents: calculation and verification

8(1) The regulations may provide for the manner in which...

Disclosure of information and establishment of database

9(1) The regulations must make provision about disclosure of information....

10(1) The regulations may make provision with a view to...

Record keeping

11(1) The regulations may require any person—

Further provision about the regulations

12The regulations may— (a) impose or confer other functions on...

Review of limit on value of cash equivalent

13(1) The regulations must require the Secretary of State to...

Part 2Merger of pension accounts

14(1) The Secretary of State may by regulations make provision...

Part 3Interpretation etc

Interpretation etc

15(1) In this Schedule— “active member”— in relation to an...

Crown application

16(1) This Schedule applies to a pension scheme managed by...

Overriding provision

17(1) Regulations under this Schedule may provide that specified provisions...

Other provision relating to regulations under this Schedule

18(1) Regulations under this Schedule may amend or otherwise modify...

19Before making any regulations under this Schedule, the Secretary of...

20(1) The Pension Schemes Act 1993 is amended as follows....

21In section 256 of the Pensions Act 2004 (no indemnification...

SCHEDULE 18Power to restrict charges or impose requirements in relation to schemes

Power to restrict charges

1(1) The Secretary of State may by regulations make provision—...

Power to impose requirements relating to administration or governance

2(1) The Secretary of State may by regulations impose requirements...

3(1) The Secretary of State may by regulations make provision...

Interpretation

4(1) Expressions used in this Schedule and in Schedule 17...

Crown application

5(1) This Schedule applies to a pension scheme managed by...

Overriding provision

6(1) The Secretary of State may by regulations provide that...

Other provision relating to regulations under this Schedule

7(1) The Secretary of State may by regulations amend or...

8Before making any regulations under this Schedule, the Secretary of...

9(1) The Pension Schemes Act 1993 is amended as follows....

10In section 256 of the Pensions Act 2004 (no indemnification...

11(1) Section 16 of the Pensions Act 2008 (automatic enrolment:...

12In consequence of the amendments made by paragraph 11, section...

SCHEDULE 19Prohibition orders: consequential amendments

Pensions Act 1995 (c. 26)

1The Pensions Act 1995 is amended as follows.

2In section 6 (removal or suspension of trustees: consequences)—

3In section 7 (appointment of trustees), in subsection (1), after...

4In section 9 (removal and appointment of trustees: property), after...

Pensions Act 2004 (c. 35)

5The Pensions Act 2004 is amended as follows.

6In section 10 (functions exercisable by the Determinations Panel), in...

7In section 66 (register of prohibited trustees), in subsection (1),...

8In section 96 (Pensions Regulator's regulatory functions: standard procedure), in...

9In section 97 (Pensions Regulator's regulatory functions: special procedure), in...

10(1) Schedule 2 (Pensions Regulator's reserved regulatory functions) is amended...

SCHEDULE 20Pension Protection Fund: increased compensation cap for long service

Part 1The new compensation cap

1Schedule 7 to the Pensions Act 2004 (pension compensation provisions)...

2In paragraph 26 (the compensation cap), for the definition of...

3After paragraph 26 insert— (1) This paragraph gives the meaning of “ the compensation...

Part 2Consequential amendments

4The Pensions Act 2004 is amended as follows.

5In section 316(2)(s), for “paragraph 26(7)” substitute “ paragraph 26A(7)...

6(1) Schedule 7 is amended as follows.

7In paragraph 18(2) of Schedule 5 to the Pensions Act...

Part 3Effect of change in transitional cases

Recalculation of periodic compensation going forwards

8(1) This paragraph applies in relation to a person if—...

New cap does not generally affect old payments

9(1) Nothing in this Schedule affects— (a) periodic compensation for...

Survivors' compensation

10When working out the annual rate of a person's periodic...

Cases involving early payment or postponement of compensation

11Nothing in this Schedule affects the amount of—

Recalculation of terminal illness lump sums given in the past year

12(1) This paragraph applies in relation to a person who...

Meaning of “the pension compensation provisions” in Part 2 of the Pensions Act 2004

13Section 162(2) of the Pensions Act 2004 is to be...

Part 4Schemes undergoing assessment or winding up on the commencement date

Schemes undergoing assessment on the commencement date

14(1) This paragraph applies in relation to an eligible scheme...

Schemes that begin winding up before the commencement date

15(1) This paragraph applies in relation to an eligible scheme...

Meaning of “undergoing assessment”

16For the purposes of this Part of this Schedule an...

Meaning of “eligible scheme”

17Section 126(4) of the Pensions Act 2004 (list of provisions...

Part 5Interpretation and power to make further transitional provision

18In this Schedule “ the commencement date ” means the...

19Other expressions used in this Schedule have the same meaning...

Further transitional provision

20The inclusion of Parts 3 and 4 of this Schedule...

21(1) In relation to a case involving multiple benefits, transitional...

22(1) Transitional provision made by order under section 56(8) may,...

Royal arms

Pensions Act 2014

2014 CHAPTER 19

An Act to make provision about pensions and about benefits payable to people in connection with bereavement; and for connected purposes.

[14th May 2014]

Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—