PART 1Categories of pension scheme

2Defined benefits scheme

A pension scheme is a “defined benefits scheme” if—

a

the scheme provides for all members to be paid retirement income beginning at normal pension age and continuing for life,

b

there is a full pensions promise in relation to the retirement income and any other retirement benefits that may be provided to members,

c

the normal pension age in relation to the retirement income and any other retirement benefits that may be provided to members is fixed, and

d

such other requirements as may be specified in regulations are met.