The Pension Protection Fund (Contributions Equivalent Premium) Regulations 2007

Statutory Instruments

2007 No. 834

Pensions

The Pension Protection Fund (Contributions Equivalent Premium) Regulations 2007

Made

13th March 2007

Laid before Parliament

16th March 2007

Coming into force

6th April 2007

The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 56(2), (7) and (8)(b), 181(1), 182(2) and 183(1) of the Pension Schemes Act 1993(1), sections 52(2), (7), (8) and (9)(b), 176(1), 177(2) and (3) and 178(1) of the Pension Schemes (Northern Ireland) Act 1993(2) and now vested in him(3), and sections 135(4), 315(2), (4) and 318(1) of the Pensions Act 2004(4).

In accordance with section 185(1) of the Pension Schemes Act 1993(5) and section 317(1) of the Pensions Act 2004 the Secretary of State has consulted such persons as he considers appropriate.

(1)

1993 c.48. Section 56(2) was amended by Part 3 of Schedule 7 to the Pensions Act 1995 (c.26) and paragraph 54 of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c.2). Section 56(7) and (8) was inserted by paragraph 11(3) of Schedule 12 to the Pensions Act 2004 (c.35). Section 183(1) was amended by Parts 3 and 4 of Schedule 7 to the Pensions Act 1995. Section 181(1) is cited for the meaning given there to “modifications”, “prescribed” and “regulations”.

(2)

1993 c.49. Section 52(2) was amended by Part 3 of Schedule 5 to the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) and paragraph 64(2) of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999 (S.I. 1999/671). Section 52(8) and (9) was added by paragraph 7(3) of Schedule 10 to the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)). Section 178(1) was amended by Parts 3 and 4 of Schedule 5 to the Pensions (Northern Ireland) Order 1995. Section 52(7) was added by paragraph 64(3) of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999 and is cited for the meaning given there to “prescribed”. Section 176(1) is cited for the meaning given there to “modifications”.

(3)

See section 52(7) of the Pension Schemes (Northern Ireland) Act 1993.

(4)

2004 c.35. Part 2 of the Pensions Act 2004 is modified in its application to partially guaranteed schemes by S.I. 2005/277, in its application to multi-employer schemes by S.I. 2005/441 (as amended by S.I. 2005/993 and 2113) and in its application to hybrid schemes by S.I. 2005/993. Section 318(1) is cited for the meaning given there to “prescribed” and “regulations”.

(5)

Section 185(1) was amended by paragraph 46 of Schedule 3 to, and paragraph 80(a) of Schedule 5 to, the Pensions Act 1995.