Amendment of the Pension Sharing (Pension Credit Benefit) Regulations 20008
1
The Pension Sharing (Pension Credit Benefit) Regulations 200015 are amended in accordance with this article.
2
In regulation 1(2) (interpretation), omit the definition of “safeguarded rights”.
3
In regulation 10 (transfer of a person’s pension credit rights without consent)16, omit paragraph (9).
4
Omit—
a
regulation 16 (transfer payments in respect of safeguarded rights – general),
b
regulation 17 (transfer payments to money purchase contracted-out schemes and appropriate schemes),
c
regulation 18 (transfer payments to salary related contracted-out schemes), and
d
regulation 19 (transfer payments to overseas schemes or overseas arrangements)17.
5
In regulation 20 (requirements to be met by annuities), for “Subject to regulation 19, the prescribed” substitute “The prescribed”.
6
In regulation 21 (requirements of other pension arrangements)—
a
in paragraph (1)(a), add “or” at the end,
b
omit paragraph (1)(b), and
c
in paragraph (3), for “paragraph (1)(b) and (c)” substitute “paragraph (1)(c)”.
7
In regulation 22 (requirements to be met by an eligible scheme)18, omit sub-paragraph (a) of paragraph (1).
8
In regulation 35 (definition of eligible pension credit rights)19, omit paragraph (2)(b) and the word “or” immediately preceding it.