Amendment of regulation 3 of the Preservation of Benefit Regulations34

In regulation 3 of the Preservation of Benefit Regulations (meaning of “member” and “prospective member”) for paragraphs (2) and (3) there shall be substituted the following paragraphs—

2

There are to be regarded as members of an occupational pension scheme any persons who—

a

are in pensionable service under the scheme;

b

have rights under the scheme by virtue of such pensionable service; or

c

have rights under the scheme by virtue of having been allowed transfer credits under the scheme.

3

There are to be regarded as prospective members of an occupational pension scheme—

a

any persons who are able, at their own option, to become members of the scheme, and

b

any persons who under the terms of their contracts of service and the scheme rules will become so able, if they continue in the same employment for a sufficiently long period.