PART 6Winding Up
Non-money purchase schemes including benefits treated as money purchase benefits: winding up commencing on or after 6th April 2005 but before the appointed day14
1
This regulation applies where an occupational pension scheme not treated by the trustees or managers of the scheme as a money purchase scheme began to wind up on or after 6th April 2005, but before the appointed day (whether or not winding up has been completed by the appointed day).
2
Where the condition specified in paragraph (3) is met immediately before the scheme began winding up, section 73 of the 1995 Act applies in relation to the winding up of the scheme as if the benefits specified in paragraph (4) which the trustees or managers of the scheme treated as money purchase benefits were money purchase benefits.
3
The condition specified in this paragraph is that the scheme included benefits specified in paragraph (4) which the trustees or managers of the scheme treated as money purchase benefits.
4
The benefits specified in this paragraph are—
a
cash balance benefits;
b
a defined benefit minimum (in relation to money purchase underpin benefits or cash balance underpin benefits);
c
top-up benefits;
d
pensions derived from money purchase benefits; and
e
pensions derived from any of the benefits specified in sub-paragraphs (a) to (c).