The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1988

2

In a case where a scheme is being wound up regulation 12(1)(c), (d) and (e)(i) and (ii) shall not apply and the member’s consent shall not be required—

a

in the case of a member who at the time of winding up is employed in employment to which the scheme relates, to the transfer of his accrued rights to another scheme relating to the same employment or another employment with the same employer or his successor, with a view to the acquisition for him of transfer credits under that other scheme; and

b

in the case of a member who at the time of winding up is not so employed, to the transfer of the liabilities of the scheme in respect of short service benefit or, as the case may be, payment of pension to another scheme which, if he were so employed, would satisfy the provisions of sub-paragraph (a) above.

Application of transfer value requirement to schemes with an overseas element7

1

This regulation applies to any scheme which has an overseas element within the meaning of regulation 21(1) of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1984.

2

In the case of a scheme to which this regulation applies, Schedule 1A shall be so modified that the provisions of that Schedule relating to transfer values apply to that scheme only to the extent that the preservation requirements apply to it by virtue of regulation 21 of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1984.

Termination of pensionable service8

1

Subject to paragraph (3) below, where the pensionable service of a member of an occupational pension scheme terminates in the circumstances set out in paragraph (2) below, Part II of Schedule 1A shall have effect as if that pensionable service had not terminated.

2

The circumstances referred to in paragraph (1) above are that—

a

the pensionable service which has terminated is a period of such service which is one, other than the last one, of a series of such periods in employment to which the scheme relates; and

b

there is between successive periods of pensionable service—

i

no interval, or

ii

an interval not exceeding 1 month, or

iii

an interval of any length if it is between 2 periods of pensionable service the second of which results from the exercise of a right to return to work under section 45(1) of the Employment Protection (Consolidation) Act 197813 (right to return to work following pregnancy or confinement), or

iv

an interval of any length if it is between 2 periods of pensionable service the second of which results from a return to work by the member following a period of absence arising in consequence of a trade dispute within the meaning of section 19(2)(b) of the Social Security Act 197514.

3

This regulation shall not have effect where the trustees or managers of a scheme have, during any interval such as is set out in paragraph (2)(b)(ii) to (iv) above, done what is needed to carry out what a member requires in exercising an option available to him under paragraph 13 of Schedule 1A.

Retirement benefits varied at state pension age10

In a case where a scheme contains a provision that the pension or other retirement benefit payable to a member under it at normal pension age falls to be varied at state pension age (that is age 60 years for a woman or age 65 years for a man), Schedule 1A to the Social Security Pensions Act 1975 shall have effect as if:—

a

on the date on which the member attains normal pension age, D in the formula set out in paragraph 2(2) was the amount of the pension or other retirement benefit payable at normal pension age; and

b

on the member attaining state pension age the appropriate amount fell to be recalculated on the basis that state pension age was normal pension age for that member except that for the purposes of the calculation any increase in the member’s pension or other retirement benefit between his actual normal pension age and state pension age was to be disregarded.

Refunds in respect of service prior to 6th April 197511

Where a member’s pensionable service includes a period before 6th April 1975 and in respect of which payment of a lump sum (whether or not being or including a payment by way of a refund of contributions) has been made to him, Schedule 1A to the Social Security Pensions Act 1975 shall have effect as if—

a

that period of service was excluded from C in the formula set out in paragraph 2(2); and

b

D in that formula was reduced by an amount representing any pension or other retirement benefit which accrued in consequence of the lump sum.

Rounding12

Schedule 1A to the Social Security Pensions Act 1975 shall have effect so as to allow scheme rules to make provision for the length of a member’s qualifying pensionable service and pensionable service, set out in paragraph 2(2) as items B and C respectively, to be expressed in whole numbers of months, provided that—

a

the method of rounding to a whole month is the same for both item B and item C and involves rounding only to the nearest, next highest or next lowest month;

b

subject to paragraph (c) below, in calculating the amount of any pension or other benefit due to the member under scheme rules provision is made for rounding pensionable service to a period of a whole month or a greater period; and

c

where the member’s pensionable service commenced prior to 1st January 1985 his qualifying pensionable service shall, for the purposes of any calculation such as is referred to in paragraph (a) above, be taken to have commenced on that date.

Application of revaluation requirement to schemes with an overseas element13

1

This regulation applies to any scheme which has an overseas element within the meaning of regulation 21(1) of the Occupational Pension Schemes (Preservation of Benefit) Regulations 198418.

2

In the case of a scheme to which this regulation applies Schedule 1A to the Social Security Pensions Act 1975 shall be so modified that provisions of that Schedule relating to revaluation apply to that scheme only to the extent that the preservation requirements apply to it by virtue of regulation 21 of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1984.

Termination of pensionable service14

1

Subject to paragraph (3) below, where the pensionable service of a member of an occupational pension scheme terminates in the circumstances set out in paragraph (2) below, Part I of Schedule 1A to the Social Security Pensions Act 1975 shall have effect as if that service had not terminated.

2

The circumstances referred to in paragraph (1) above are that—

a

the pensionable service which has terminated is a period of such service which is one, other than the last one, of a series of such periods in employment to which the scheme relates; and

b

there is between successive periods of pensionable service—

i

no interval;

ii

an interval not exceeding 1 month, or

iii

an inerval of any lenth if it is between 2 periods of pensionable service the second of which results from the exercise of a right to return to work under section 45(1) of the Employment Protection (Consolidation) Act 197819 (right to return to work following pregnancy or confinement), or

iv

an interval of any length it it is between 2 periods of pensionable service the second of which results from a return to work by the member following a period of absence arising in conseqence of a trade dispute within the meaning of section 19(2)(b) of the Social Security Act 197520.

3

This regulation shall not have effect where the trustees or managers of a scheme have, during any interval such as is set out in paragraph (2)(b)(ii) to (iv) above, done what is needed to carry out what a member requires in exercising an option available to him under paragraph 13.

Person to be treated as manager of scheme established outside the United Kingdom3

For the purposes of sections 56A, 56E and 56L of the Act (disclosure of information about occupational pension schemes), in their application to the making available of information and documents to a particular member or prospective member of any occupational pension scheme established outside the United Kingdom, or by reason of his membership or prospective membership to any other person or body, the person or body to be treated as the manager of the scheme shall be such person as is for the time being treated by the Board of Inland Revenue as the administrator of the scheme for the purposes of Chapter I of Part XIV of the Income and Corporation Taxes Act 198823.

5

Any document of which disclosure is required by paragraph (1) which is not in the English language shall be accompanied by a translation in that language.

6

Where the audited accounts of a scheme established outside the United Kingdom such as are mentioned in paragraph (1) fall to be prepared outside of the United Kingdom, they shall be prepared in accordance with the law of, and the professional practices prevalent in, the country in which they are prepared.

aa

to a scheme established outside the United Kingdom; or