Amendments relating to the abolition of certain types of contracted-out pensions
This section has no associated Explanatory Memorandum
3. In paragraph (2) of regulation 1 (citation, commencement and interpretation)—
(a)omit ““COMPS employment” means employment in respect of which minimum payments are made to a money purchase pension scheme contracted out under section 9(3) of the Pensions Act;”; and
(b)in the definition of “contracted-out rate”—
(i)in sub-paragraph (a) for “upper earnings limit” substitute “upper accrual point”; and
(ii)omit sub-paragraph (b).