(1)Scheme regulations for a Chapter 1 legacy scheme may make provision under which a liability owed by a person to the scheme under section 14 (corrections for pension benefits and lump sum benefits) is reduced or waived.
(2)Scheme regulations for a Chapter 1 legacy scheme may make provision under which a liability to pay pension contributions owed by a member to the scheme under section 15, 16 or 17 (corrections for pension contributions) in relation to the member’s remediable service in an employment or office is reduced or waived.
(3)The provision that may be made under subsection (2) includes, in particular, provision under which a liability to pay pension contributions is reduced by tax relief amounts.
(4)In subsection (3) “tax relief amounts” means amounts determined by reference to the tax relief under section 188 of FA 2004 (relief for members’ contributions) that would have been available in respect of the amounts owed if they were paid in a different tax year.
(5)Scheme regulations for a Chapter 1 legacy scheme may make provision under which a liability to pay compensation owed by the scheme to a member under section 15, 16 or 17 (corrections for pension contributions) in relation to the member’s remediable service in an employment or office is reduced or waived.
(6)The provision that may be made under subsection (5) includes, in particular, provision under which a liability is reduced by tax relief amounts.
(7)In subsection (6) “tax relief amounts” means amounts determined by reference to the tax relief under section 188 of FA 2004 (relief for members’ contributions) that was received by the member in respect of pension contributions paid in a tax year in respect of the member’s remediable service in the employment or office.
(8)Scheme regulations for a Chapter 1 legacy scheme may make provision under which a liability owed by the scheme to a person under section 16 (pension contributions: active and deferred members (immediate correction)) may, by agreement, be reduced or waived.
Commencement Information
I1S. 18 in force at Royal Assent for specified purposes, see s. 131(1)
I2S. 18 in force at 1.10.2023 in force in so far as not already in force (or on such earlier day as may be appointed), see s. 131(2)(a)(b)