PART VIOCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS

Contracting out

Power to prescribe conditions by reference to Inland Revenue approval

260.  In section 5 of the Pension Schemes Act (requirements for certification of schemes: general), after subsection (5) insert—

“(5A) Regulations about pension schemes made under this Chapter may contain provisions framed by reference to whether or not a scheme—

(a)is approved under Chapter 1 (retirement benefit schemes) of Part XIV of the Income and Corporation Taxes Act 1988, or is a relevant statutory scheme within the meaning of that Chapter, or

(b)is approved under Chapter 4 (personal pension schemes) of that Part.”.