The Stakeholder Pension Schemes (Amendment) (No.2) Regulations 2001

Amendment of regulation 17

12.—(1) Regulation 17 (restrictions on contributions) shall be amended as follows.

(2) In paragraph (1) for “the rules of a stakeholder pension scheme” substitute “the scheme instruments”.

(3) After paragraph (4) insert—

“(5) Subject to regulation 3(5B), the scheme instruments may permit restrictions on the means of payment of contributions to the scheme.

(6) The scheme instruments of an occupational pension scheme may permit the trustees or manager to refuse to accept, in respect of any member of the scheme who is not an active member of the scheme, any contribution by or on behalf of or in respect of that member.

(7) For the purposes of paragraph (6), “active member” has the meaning given by section 124 of the 1995 Act(1).”.

(1)

Section 124 was amended by sections 18 and 84 of, and paragraph 18 of Schedule 2 and paragraph 61 of Schedule 12 to, the Welfare Reform and Pensions Act 1999 (c. 30), and by section 56 of, and paragraph 8(3) of Schedule 5 to, the Child Support, Pensions and Social Security Act 2000 (c. 19).