The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 No. 1711

PART 15 U.K. Financial Assistance Scheme

Schemes treated as money purchase schemes: non-qualifying schemes U.K.

71.—(1) Where the scheme manager is satisfied that the condition specified in paragraph (2) is met, an occupational pension scheme which would otherwise be a qualifying pension scheme is not a qualifying pension scheme.

(2) The condition specified in this paragraph is that, immediately before the scheme began winding up, the trustees or managers of the scheme treated the scheme as if it were a money purchase scheme.

Commencement Information

I1 Reg. 71 comes into force in accordance with reg. 1(1)