SCHEDULES

SCHEDULE 2Other amendments to do with Parts 1 and 2

Pensions Act 2008 (c. 30)

43

(1)

Section 24 (quality requirement: UK hybrid schemes) is amended as follows.

(2)

In subsection (1)—

(a)

for “A hybrid scheme” substitute “A shared risk scheme”;

(b)

in paragraph (a), for “a money purchase scheme” substitute “an occupational defined contributions scheme”;

(c)

in paragraph (b), for “a defined benefits scheme” substitute “an occupational defined benefits scheme”;

(d)

after paragraph (b) insert—

“(c)

the requirements under section 26 for a personal pension scheme that is a defined contributions scheme, subject to any prescribed modifications.”

(3)

In subsection (2), for “hybrid scheme” substitute “shared risk scheme”.

(4)

In the heading, for “hybrid schemes” substitute “shared risk schemes”.