PART 2Amendments coming into force on 6th April 2012
Amendment of the Pension Protection Fund (General and Miscellaneous Amendments) Regulations 200622
1
The Pension Protection Fund (General and Miscellaneous Amendments) Regulations 200645 are amended as follows.
2
In regulation 1(2) (interpretation), omit the definition of “appropriate personal pension scheme”.
3
In regulation 7 (manner of discharge of liabilities in respect of money purchase benefits)—
a
in paragraph (1)—
i
omit “(or in the case of protected rights, given effect to)”, and
ii
for sub-paragraph (a) substitute—
a
a transfer payment to a personal pension scheme or an occupational pension scheme;
b
omit paragraphs (2) and (3).
4
For regulation 8(5) (further provision for discharge of liabilities in respect of money purchase benefits), substitute—
5
Where the money purchase beneficiary dies before the Board discharges those liabilities in relation to that beneficiary, the Board shall discharge those liabilities—
a
where there is a widow, widower or surviving civil partner, under the rules of the scheme within the limits specified in regulation 7(1); or
b
where there is no widow, widower or surviving civil partner, in accordance with paragraph 15 of Schedule 29 to the 2004 Act (uncrystallised funds lump sum death benefit).