Prospective
Section 40
SCHEDULE 1E+W+SEarly leavers: revaluation of accrued benefits
F11E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
F12E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
F13E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
F14E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
F15E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
F16E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
F17E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 omitted (1.8.2022) by virtue of Pension Schemes Act 2021 (c. 1), ss. 128(d), 131(1); S.I. 2022/721, regs. 1(2), 3(e)
8E+W+SIn Schedule 3 to that Act (revaluation methods), before paragraph 1 insert—
“The default methodE+W+S
A1The default method is to revalue the benefits in any way in which they would have been revalued if—
(a)in the case of an occupational pension scheme, the member's pensionable service had not terminated, or
(b)in the case of a personal pension scheme, contributions in respect of the member had not ceased to be paid.”
9E+W+SOmit paragraphs 3A and 4 of that Schedule.
10E+W+SIn paragraph 5(1) of that Schedule, for “if his pensionable service had not terminated” substitute “if—
(a)in the case of an occupational pension scheme, the member's pensionable service had not terminated, or
(b)in the case of a personal pension scheme, contributions in respect of the member had not ceased to be paid.”
11E+W+SOmit the following, which are no longer needed given the earlier provisions of this Schedule—
(a)paragraph 31(3) of Schedule 12 to the Welfare Reform and Pensions Act 1999;
(b)section 19(1) to (3) of the Pensions Act 2011.