- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
206.—(1) This regulation applies if—
(a)P has ceased to be in employment that is contracted-out employment by reference to this scheme; and
(b)paragraph (2) applies.
(2) This paragraph applies if either—
(a)a transfer payment in respect of all P’s rights to benefits under this scheme, except P’s rights in respect of P’s guaranteed minimum or rights under section 9(2B) of PSA 1993(1)(requirements for certification of schemes: general) (“P’s contracting-out rights”) has been made; or
(b)P has no rights to benefits under this scheme apart from P’s contracting-out rights.
(3) If this regulation applies—
(a)from the date on which P reaches GMP age, P is entitled to a pension payable for life at a weekly rate equal to P’s guaranteed minimum (if any); and
(b)from the date on which P reaches normal pension age under this scheme, P is entitled to a lump sum and pension in respect of P’s rights under section 9(2B) of PSA 1993.
(4) Despite paragraph (3), P is not to be regarded as a pensioner member of this scheme for the purpose of Part 9 (death benefits).
(5) In this regulation, “contracted-out employment” has the meaning given in section 8(1) of PSA 1993.
Subsection (2B) was inserted by the Pensions Act 1995 (c. 26) section 136(3) and amended by the Social Security Contributions (Transfer of Functions, etc.) Act 1999 Schedule 1 paragraph 35.
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: