The Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987

Regulation 3(2)

SCHEDULE 2 MODIFICATIONS SUBJECT TO WHICH SECTION 49 OF THE SOCIAL SECURITY PENSIONS ACT 1975 IS TO HAVE EFFECT IN RELATION TO PERSONAL PENSION SCHEMES

1.  In subsection (1)—

(a) the substitution, for “occupational pension scheme, other than a public service scheme”, of “personal pension scheme”;

(b) the substitution, for “a contracted-out scheme”, of “an appropriate scheme”;

(c) the substitution, for paragraph (b) (both before and after the coming into force of paragraph 9(a) of Schedule 2 to the Social Security Act 1986), of the following paragraph—

“(b) there has not been a payment of a premium under section 5 of the Social Security Act 1986 in respect of each person (not being a person in respect of whom a premium is not payable by virtue of regulation 3 of the Personal Pension Schemes (Personal Pension Protected Rights Premiums) Regulations 1987) who has protected rights under it or is entitled to any benefit giving effect to protected rights under it;”; and

(d) the insertion, at the end, of “(not being a person in respect of whom a premium is not payable by virtue of regulation 3 of the Personal Pension Schemes (Personal Pension Protected Rights Premiums) Regulations 1987”(1).

2.  In subsection (2), the substitution, for paragraphs (a) (both before and after the coming into force of paragraph 9(b) of Schedule 2 to the Social Security Act 1986) and (b) and the words following them, of “the matters in respect of which, for the purposes of determining whether a personal pension scheme should be or continue to be an appropriate scheme, they are required to be satisfied under paragraph 10 of Schedule 1 to the Social Security Act 1986”.

3.  In subsection (2A), the substitution, for the words from “subsection (1C)” to “subsection (3) of that section”, of “subsection (2) of section 5 of the Social Security Act 1986 which has not been cancelled under subsection (3) of that section”.

4.  In subsection (5) (both before and after the coming into force of paragraph 9(c) of Schedule 2 to the Social Security Act 1986), the substitution, for the words from “sections” to “above”, of “Schedule 1 to the Social Security Act 1986”.

(1)

S.I. 1987/1111.