The Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009
| Jurisdiction | UK Non-devolved |
| Citation | SI 2009/615 |
| Year | 2009 |
2009 No. 615
Pensions
The Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009
Made 10th March 2009
Laid before Parliament 16th March 2009
Coming into force in accordance with regulation 1
The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 11(5)(b) and (c), 12C(1)(a), 20(1) and (2), 45(3)(a), 101C(2), 101D(2)(b) and (4)(b), 101E(1)(c), 101F(6)(b), 168(1) and (4), 181(1), 182(2) and (3) and 183(1) of the Pension Schemes Act 19931, sections 10(3), 40(1), 68(2)(e), 74(3)(e), 124(1) and 174(2) and (3) of the Pensions Act 19952, sections 1(3), 2(7), 8(1), 41(1) and (2), 45(2) and 83(4) and (6) of the Welfare Reform and Pensions Act 19993and sections 232, 242(10), 243(2), 314, 315(2), (4) and (5) and 318(1) of the Pensions Act 20044.
In accordance with section 185(1) of the Pension Schemes Act 19935, section 120(1) of the Pensions Act 1995, section 83(11) of the Welfare Reform and Pensions Act 1999 and section 317(1) of the Pensions Act 2004, the Secretary of State has consulted with such persons as the Secretary of State considers appropriate.
Citation and commencement
1.—(1) These Regulations may be cited as the Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009.
(2) Except where paragraph (3) applies, these Regulations come into force on 6th April 2009.
(3) Regulation 19 comes into force—
(a)
(a) for the purposes of paragraph (3)(b), on 6th April 2009, and
(b)
(b) for all other purposes, on 23rd September 2010.
Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991
2.—(1) The Occupational Pension Schemes (Preservation of Benefit) Regulations 19916are amended in accordance with this regulation.
(2) In regulation 27B (offence and penalties)7, for “Occupational Pensions Regulatory Authority may” substitute “Regulatory Authority may by notice in writing”.
Amendment of the Occupational Pension Schemes (Revaluation) Regulations 1991
3.—(1) The Occupational Pension Schemes (Revaluation) Regulations 19918are amended in accordance with this regulation.
(2) After regulation 13 (lump sum in respect of service before 6th April 1975), insert—
“Purpose for which trustees may modify the scheme
13A.—(1) This regulation prescribes a purpose for which the trustees of a trust scheme may by resolution modify the scheme under section 68 of the Pensions Act 1995 (power of trustees to modify schemes by resolution).
(2) The purpose is to—
(a)
(a) reduce the rate or amount by which the scheme revalues any benefits9that accrue after the date of the resolution; or
(b)
(b) change the method for determining that rate or amount in order to make such a reduction.
(3) No modification may be made for the purpose in paragraph (2) without the consent of—
(a)
(a) where there is one employer in relation to the scheme, that employer; or
(b)
(b) where there is more than one employer in relation to the scheme—
(i) all those employers; or
(ii) a person nominated by all those employers, or in accordance with the scheme rules, to act as their representative.”.
Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1996
4.—(1) The Occupational Pension Schemes (Contracting-out) Regulations 199610are amended in accordance with this regulation.
(2) In regulation 9 (making of elections by employers for the variation or surrender of contracting-out certificates)11—
(a)
(a) at the end of paragraph (5)(e)(i), insert “and”,
(b)
(b) at the end of paragraph (5)(e)(ii), omit “and”,
(c)
(c) paragraph (5)(e)(iii) becomes paragraph (5)(ea),
(d)
(d) in paragraph (5)(ea), insert at the beginning “where the notice is not about surrendering a contracting-out certificate due to the scheme winding up, contain a statement that”, and
(e)
(e) in paragraph (6), for “such a notice as is mentioned in this regulation” substitute “a notice under this regulation which is not about surrendering a contracting-out certificate due to the scheme winding up”.
(3) In regulation 12(4) (special provision for holding companies and subsidiaries), for “9(5)(e)(iii)” substitute “9(5)(ea)”.
Amendment of the Contracting-out (Transfer and Transfer Payment) Regulations 1996
5.—(1) The Contracting-out (Transfer and Transfer Payment) Regulations 199612are amended in accordance with this regulation.
(2) In regulation 1(2) (interpretation) in the definitions of “connected employer transfer” and “connected employer transfer payment”, after the first and third times the words “salary-related contracted-out scheme” appear insert “(or a scheme which was formerly a salary-related contracted-out scheme)”.
Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations 1996
6.—(1) The Occupational Pension Schemes (Disclosure of Information) Regulations 199613are amended in accordance with this regulation.
(2) In regulation 11 (civil penalties)14, after “the Regulatory Authority may” insert “by notice in writing”.
Amendment of the Occupational Pension Schemes (Indexation) Regulations 1996
7.—(1) The Occupational Pension Schemes (Indexation) Regulations 199615are amended in accordance with this regulation.
(2) After regulation 4 (indexation of certain transfers made on or after 6th April 2005)16, insert—
“Purpose for which trustees may modify the scheme
5.—(1) This regulation prescribes a purpose for which the trustees of a trust scheme may by resolution modify the scheme under section 68 of the Act (power of trustees to modify schemes by resolution).
(2) The purpose is to—
(a)
(a) reduce the amount of the annual increase in the rate of any pension17that accrues after the date of the resolution; or
(b)
(b) change the method for determining that amount in order to make such a reduction.
(3) No modification may be made for the purpose in paragraph (2) without the consent of—
(a)
(a) where there is one employer in relation to the scheme, that employer; or
(b)
(b) where there is more than one employer in relation to the scheme—
(i) all those employers; or
(ii) a person nominated by all those employers, or in accordance with the scheme rules, to act as their representative.”.
Amendment of the Occupational Pension Schemes (Transfer Values) Regulations 1996
8.—(1) The Occupational Pension Schemes (Transfer Values) Regulations 199618are amended in accordance with this regulation.
(2) In regulation 11(6) (disclosure), after “the Regulatory Authority may” insert “by notice in writing”.
Amendment of the Occupational Pension Schemes (Winding Up) Regulations 1996
9.—(1) The Occupational Pension Schemes (Winding Up) Regulations 199619are amended in accordance with this regulation.
(2) In regulation 8(7) (requirements to be satisfied by transferee schemes, annuities etc.)20—
(a)
(a) at the end of sub-paragraph (a), insert “or”, and
(b)
(b) omit sub-paragraph (c) and the word “or” immediately preceding it.
Amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations 1997
10.—(1) The Personal Pension Schemes (Appropriate Schemes) Regulations 199721are amended in accordance with this regulation.
(2) In regulation 15(7)(e) (calculation or estimation of earnings), for “earnings limit” substitute “accrual point”.
Amendment of the Occupational Pension Schemes (Age-related Payments) Regulations 1997
11.—(1) The Occupational Pension Schemes (Age-related Payments) Regulations 199722are amended in accordance with this regulation.
(2) In regulation 10 (penalties), for “Occupational Pensions Regulatory Authority may” substitute “Regulatory Authority may by notice in writing”.
Amendment of the Pensions on Divorce etc. (Provision of Information) Regulations 2000
12.—(1) The Pensions on Divorce etc. (Provision of Information) Regulations 200023are amended in accordance with this regulation.
(2) In regulation 1(2) (interpretation), omit the definition of “the Regulatory Authority”.
(3) In regulation 9 (penalties), after “Regulatory Authority may” insert “by notice in writing”.
Amendment of the Pensions on Divorce etc. (Charging) Regulations 2000
13.—(1) The Pensions on Divorce etc. (Charging) Regulations 200024are amended in accordance with this regulation.
(2) In regulation 1(2) (interpretation), omit the definition of “the Regulatory Authority”.
(3) In regulation 9(6)(b) (charges in respect of pension sharing activity – method of recovery), for “Regulatory Authority” substitute “Pensions Regulator25”.
Amendment of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000
14.—(1) The Pension Sharing (Implementation and Discharge of Liability) Regulations 200026are amended in accordance with this regulation.
(2) In regulation 1(2) (interpretation) in the definition of “the Regulatory Authority”, for “Occupational Pensions...
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