The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) Order 2011 No. 1246

PART 2 Amendments coming into force on 6th April 2012

Amendment of the Occupational Pension Schemes (Transfer Values) Regulations 1996

14.—(1) The Occupational Pension Schemes (Transfer Values) Regulations 1996(1) are amended as follows.

(2) In regulation 1(2) (interpretation), omit the definition of “post-97 protected rights”.

(3) In regulation 12 (requirements to be met by receiving schemes, annuities and arrangements)—

(a) after paragraph (1)(b), add “and”, and

(b) omit paragraph (1)(c), and the word “and” immediately following it.

(4) In Schedule 1A (reductions in initial cash equivalents)(2), omit paragraph 9.

(1)

S.I. 1996/1847.

(2)

Schedule 1A was inserted by S.I. 2008/1050.