10. The following are descriptions of schemes for the purposes of regulation 9(1)(a)—
(a)a public service pension scheme under the provisions of which there is no requirement for assets related to the intended rate or amount of benefit under the scheme to be set aside in advance (disregarding requirements relating to additional voluntary contributions);
(b)a scheme which is made under section 7 of the Superannuation Act 1972 M1 or under Article 9 of the Superannuation (Northern Ireland) Order 1972 M2 (superannuation of persons employed in local government service etc.) and provides pensions to persons employed in local government service;
(c)a scheme which is made under section 2 of the Parliamentary and Other Pensions Act 1987 M3 (power to provide for pensions for Members of the House of Commons etc.);
(d)a scheme which is established under section 48 of the Northern Ireland Act 1998 M4 (pensions of members), or which was established under Part 2 of the Ministerial Salaries and Members' Pensions Act (Northern Ireland) 1965 M5 or Article 3 of the Assembly Pensions (Northern Ireland) Order 1976 M6;
(e)a scheme in respect of which a relevant public authority has given a guarantee or made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet its liabilities;
(f)a scheme which provides relevant benefits within the meaning of section 612(1) of the ICTA but which is neither a tax approved scheme nor a relevant statutory scheme within the meaning of section 611A of that Act M7 (definition of “relevant statutory scheme”);
(g)a scheme—
(i)which has been categorised before 18th April 2005, by the Commissioners of Inland Revenue, and on or after that date, by the Commissioners of HMRC, for the purposes of its approval as a centralised scheme for non-associated employers;
(ii)which is not contracted-out in accordance with section 9 of the 1993 Act M8; and
(iii)under the provisions of which the only benefits that may be provided on or after retirement (other than money purchase benefits derived from the payment of voluntary contributions by any person) are lump sum benefits which are not calculated by reference to a member's salary;
(h)a scheme—
(i)the only benefits provided by which (other than money purchase benefits) are death benefits; and
(ii)under the provisions of which no member has accrued rights (other than rights to money purchase benefits);
(i)a scheme with such a superannuation fund as is mentioned in section 615(6) of the ICTA M9 (exemption from tax in respect of certain pensions);
(j)a scheme which does not have its main place of administration registered in the United Kingdom;
(k)a scheme with fewer than two members;
[F1(l)a scheme with fewer than 12 members where all the members are trustees of the scheme and either—
(i)the provisions of the scheme provide that any decision made by the trustees is made by the unanimous agreement of the trustees who are members of the scheme; or
(ii)the scheme has a trustee who is independent in relation to the scheme for the purposes of section 23 of the 1995 Act (power to appoint independent trustees) and is registered in the register maintained by the Pensions Regulator in accordance with regulations made under subsection (4) of that section;]
[F1(m)a scheme with fewer than 12 members where all the members are directors of a company which is the sole trustee of the scheme and either—
(i)the provisions of the scheme provide that any decision made by the company in its capacity as trustee is made by the unanimous agreement of the directors of that company who are members of the scheme; or
(ii)one of the directors of the company is independent in relation to the scheme for the purposes of section 23 of the 1995 Act and is registered in the register maintained by the Pensions Regulator in accordance with regulations made under subsection (4) of that section.]
Textual Amendments
F1Reg. 10(l)(m) substituted for reg. 10(l) (19.12.2007) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(3)
Marginal Citations
M7Section 611A is inserted by the Finance Act 1989 (c. 26), section 75 and Schedule 6, paragraph 15 and amended by the Finance Act 1999, section 52(1) and Schedule 5, paragraph 5.
M8Section 9 is amended by the 1995 Act, section 136(3) and (4), Schedule 5, paragraphs 21 and 24 and by the Social Security Contributions (Transfer of Functions) Act 1999 (c. 2), Schedule 1, paragraph 35.
M9Section 615(6) has effect in relation to trust based occupational pension schemes established in respect of persons wholly employed in a trade or undertaking outside of the United Kingdom. It was amended by the Finance Act 1999, section 79 and Schedule 10.