SCHEDULES

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

Amendments

I19

1

The Pension Schemes Act 1993 is amended as follows.

2

In section 94(2A) (right to cash equivalent)—

a

in paragraph (a), after sub-paragraph (viii) (inserted by Schedule 17 to this Act) insert—

ix

regulations made under Schedule 18 to the Pensions Act 2014;

b

in paragraph (b), after sub-paragraph (vi) (inserted by Schedule 17 to this Act) insert—

vii

regulations made under paragraph 6 of Schedule 18 to the Pensions Act 2014.

3

In section 101AI(8) (rights to cash transfer sum and contribution refund: further provisions)—

a

in paragraph (a), after sub-paragraph (viii) (inserted by Schedule 17 to this Act) insert—

ix

regulations made under Schedule 18 to the Pensions Act 2014;

b

in paragraph (b), after sub-paragraph (vi) (inserted by Schedule 17 to this Act) insert—

vii

regulations made under paragraph 6 of Schedule 18 to the Pensions Act 2014.

I210

In section 256 of the Pensions Act 2004 (no indemnification for fines or civil penalties), in subsection (1)(b), after “or paragraph 10 of Schedule 17 to the Pensions Act 2014” (inserted by Schedule 17 to this Act) insert “ or paragraph 3 of Schedule 18 to that Act ”.

I311

1

Section 16 of the Pensions Act 2008 (automatic enrolment: qualifying schemes) is amended as follows.

2

In subsection (3), omit paragraphs (a), (aa) and (ab).

3

After subsection (3) insert—

3A

See also paragraphs 1(4) and 2(4) of Schedule 18 to the Pensions Act 2014, which confer power to make regulations providing for a scheme not to be a qualifying scheme in relation to a jobholder in certain circumstances.

4

Omit subsections (4) and (5).

I412

In consequence of the amendments made by paragraph 11, section 10 of the Pensions Act 2011 (qualifying schemes: administration charges) is repealed.