The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc) Regulations 2011
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The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc) Regulations 2011
Statutory Instruments
PensionsMade10 th March 2011Laid before Parliament15 th March 2011Coming into force6 th April 2011The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 168 A(1) and (3)(1) , 206(4)(a) , 207 , 315(2) to (5) and 318(1) of the Pensions Act 2004(2) and sections 107(2) , 108 , 109(g)(ii) , 110(1)(a) , 112 , 114(3) , 115(1)(b)(ii) and (4) , 116(6) and (8)(b) , 117(1) , (2)(b) and (c) , 118 , 119 and 144(2) and (4) of, and paragraphs 5(4) , 7(5) , 8(4)(a) , 9(1) , (2) and (6) , 10(1) ,17(6) , 18 and 19 of Schedule 5 to, the Pensions Act 2008(3).In accordance with section 317(1) of the Pensions Act 2004 the Secretary of State has consulted such persons as the Secretary of State considers appropriate.PART 1 GeneralCitation, commencement and interpretation1.—(1) These Regulations may be cited as the Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc) Regulations 2011 and shall come into force on 6 th April 2011.(2) In these Regulations—“the Act” means the Pensions Act 2008;“the 2004 Act” means the Pensions Act 2004;“admissible rules” has the same meaning as in paragraph 35 (scheme rules, admissible rules etc) of Schedule 7 to the 2004 Act(4);“child of the family” means—a child of the transferee; orany other child who has been treated by the transferee as a child of the family, other than a child placed with the transferee as a foster parent by a local authority or voluntary organisation;“compensation cap” has the same meaning as in paragraph 26(7) of Schedule 7 to the 2004 Act (compensation cap);“member” means the party who is entitled to present or future payment of PPF compensation under the pension compensation provisions and includes a pension compensation credit member;“pension compensation attachment order” means an order made under any of the provisions specified in regulation 17(1)(a) to (e);“pension compensation credit member” means a person who has rights to PPF compensation which are attributable to a pension compensation credit;“pension compensation debit” means a debit of the appropriate amount, to be applied to the transferor’s shareable rights to PPF compensation, on the taking effect of a pension compensation sharing order or provision (see section 111 of the Act (creation of pension compensation debits and credits));“qualifying course” means a full time educational or vocational course at a recognised educational establishment where, in pursuit of that course, the time spent receiving instruction or tuition, undertaking supervised study, examination or practical work or taking part in any exercise, experiment or project for which provision is made in the curriculum of the course, exceeds 12 hours per week in normal term time, and includes any gaps between the ending of one course and the commencement of another, where the person is enrolled on and commences the latter course;“PPF” means the Pension Protection Fund;“relevant compensation” means the payments to which the member is entitled (or will become entitled on attaining normal pension age) under the pension compensation provisions by virtue of the member’s shareable rights to PPF compensation that derive from rights under a specified scheme;“relevant partner” means a person of either sex who was not married to, or in a civil partnership with, the transferee and who was living with the transferee—as if that person and the transferee were husband and wife; orin the case of two adults of the same sex, as if they were civil partners;“surviving dependant” means—a child of the family who was financially dependent on the tra...See the full content of this document
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