The Pensions Act 2008 (Commencement No. 7 and Saving, Consequential and Incidental Provisions) Order 2010
Citation1.
This Order may be cited as the Pensions Act 2008 (Commencement No. 7 and Saving, Consequential and Incidental Provisions) Order 2010.
Commencement of provisions2.
Section 124(2) and (6) of the Pensions Act 2008 (financial assistance scheme), in so far as not already in force, comes into force on 31st March 2010.
Saving3.
(1)
(2)
Where this article applies, section 286 shall continue to have effect as it was in force immediately before the making of this Order until such time as further regulations made under that section come into force.
Consequential and incidental provisions4.
(1)
(a)
““scheme’s pension liabilities”, in respect of a member of a qualifying pension scheme, means the liabilities of the scheme to, or in respect of, the member in respect of pensions or other benefits (including increases in pensions);”;
(b)
“(c)
the scheme’s pension liabilities in respect of that person have not been satisfied in full.”.
(2)
(a)
“(ii)
the scheme’s pension liabilities in respect of that person have not been satisfied in full;”;
(b)
““scheme’s pension liabilities”, in respect of a member of a qualifying pension scheme, means the liabilities of the scheme to, or in respect of, the member in respect of pensions or other benefits (including increases in pensions);”.
(3)
The amendments made by this article have effect from 1st April 2010.
Signed by authority of the Secretary of State for Work and Pensions.
This Order brings into force section 124(2) and (6) of the Pensions Act 2008 (c.30) (financial assistance scheme). These provisions make amendments in relation to the definition of “qualifying member” in section 286(2) of the Pensions Act 2004 (c.35). Section 124(2) and (6) were brought into force on 19th December 2008 for limited purposes. This Order brings those provisions into force for all remaining purposes from 31st March 2010.
The Order saves section 286 in its unamended form for the purposes of existing regulations under that section until such time as new regulations made under the section come into force.
The Order also makes consequential and incidental provisions amending the Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986) and the Financial Assistance Scheme (Provision of Information and Administration of Payments) Regulations 2005 (S.I. 2005/2189). The amendments insert a definition of “scheme’s pension liabilities” in both, make changes in relation to the definition of “qualifying member” in the former and amend the definition of “member” in the latter.
A full impact assessment has not been published for this Order as it has only a negligible impact on the private and voluntary sectors.
The following provisions of the Pensions Act 2008 are brought into force by Statutory Instruments which were made before this Order was made.
Provision | Date of Commencement | S.I.No. |
|---|---|---|
sections 62 to 64 | 26th January 2009 | |
section 74 | 1st July 2009 | |
section 75 (for all remaining purposes) | 5th July 2010 | |
section 76 | 5th July 2010 | |
section 99 | 5th July 2010 | |
section 100 | 6th April 2009 | |
section 101 (partially) | 6th April 2009 | |
section 101 (for all other purposes) | 6th April 2009 | |
section 122 (partially) | 1st April 2009 | |
section 124(2) and (6) (partially) | 19th December 2008 | |
section 126 (for all remaining purposes) | 29th June 2009 | |
section 128 | 26th January 2009 | |
section 129 (partially) | 26th February 2010 | |
section 130 | 6th April 2009 | |
section 132 | 26th January 2009 | |
section 138 | 26th January 2009 | |
section 139 | 6th April 2009 | |
section 148 (partially) | 6th April 2009 | |
Schedule 1 (for all remaining purposes) | 5th July 2010 | |
Schedule 2 Parts 1 and 3 | 6th April 2009 | |
Schedule 2 Part 2 | 6th April 2009 | |
Schedule 8 (partially) | 1st April 2009 | |
Schedule 9 (for all remaining purposes) | 29th June 2009 | |
Schedule 10 (partially) | 26th February 2010 | |
Schedule 11 Part 2 | 6th April 2009 |