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Pensions Act 2008 (C

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Pensions Act 2008 (C (SD851/09) Pensions Act 2008 (c. 30) Contents The Pensions Act 2008 (Application) Order 2009 (SD851/09) was made 14 November 2009 and approved by Tynwald 19 January 2010. Article 3(1) of that Order provides that “the applied legislation” means the legislation applied by article 4 which is the Pensions Act 20081, as modified and shown in the Schedule to that Order. Article 2(2) of that Order provides that once it is approved by Tynwald, each provision of the applied legislation shall come into operation, or shall be deemed to have come into operation, at the same time as the equivalent provision commenced in Great Britain2. PENSIONS ACT 2008 CHAPTER 30 CONTENTS Part 1 - Pension scheme membership for jobholders 1. to 99. (Not applied) Part 2 - Simplification etc Private pensions 100. Abolition of safeguarded rights 101. Revaluation of accrued benefits etc State pensions etc 102. Consolidation of additional pension (Repealed) 103. Effect of entitlement to guaranteed minimum pension (Repealed) 104. Additional pension etc: minor and consequential amendments 105. State pension credit: extension of assessed income period for those aged 75 or over (Not applied) 106. Contracting-out: abolition of all protected rights Part 3 - Pension compensation Chapter 1 - Pension compensation on divorce etc (Not applied) Chapter 2 - Other provision about pension compensation (Not applied) Part 4 - Financial assistance scheme (Not applied) Part 5 - Miscellaneous Miscellaneous provision relating to pensions (Not applied) State and official pensions 135. Additional Class 3 contributions 136. Additional Class 3 contributions (Northern Ireland) (Not applied) 137. Official pensions: adjustment of increases in survivors’ pensions 138. War pensions: effect of later marriage or civil partnership (Not applied) 1 2008 c. 30 (an Act of Parliament). 2 The commencement dates are detailed at the end of this document. Supplement No. 178 [March 2019] 4A.561 (SD851/09) Pensions Act 2008 (c. 30) Contents 139. Polish Resettlement Act 1947: effect of residence in Poland (Not applied) 140. Pre-1948 insurance affecting German pension entitlement (Not applied) 141. Pre-1948 insurance: supplementary (Not applied) Information relating to state pension credit recipients 142. Disclosure of information relating to state pension credit recipients (Not applied) Part 6 - General 143. Orders and regulations (Not applied) 144. Orders and regulations: supplementary (Not applied) 145. Power to make further provision 146. Pre-consolidation amendments (Not applied) 147. General financial provisions (Not applied) 148. Repeals 149. Commencement (Not applied) 150. Extent (Not applied) 151. Short title Schedule 1 - The trustee corporation (Not applied) Schedule 2 - Revaluation of accrued benefits etc Part 1 - Revaluation of accrued pension benefits Part 2 - Revaluation of accrued amounts etc (Not applied) Part 3 - Consequential amendments Schedule 3 - Consolidation of additional pension (Repealed) Schedule 4 - Additional pension etc: minor and consequential amendments Schedule 5 - Pension compensation payable on discharge of pension compensation credit (Not applied) Schedule 6 - Pension compensation on divorce etc: England and Wales (Not applied) Schedule 7 - Pension compensation on divorce etc: Scotland (Not applied) Schedule 8 - Amendments of Schedule 7 to the Pensions Act 2004 (Not applied) Schedule 9 - Contribution notices and financial support directions under Pensions Act 2004 (Not applied) Schedule 10 - Interest on late payment of levies (Not applied) Schedule 11 - Repeals Part 1 - Pension scheme membership for jobholders (Not applied) Part 2 - Safeguarded rights Part 3 - Contracting-out: abolition of all protected rights Part 4 - Pension compensation (Not applied) Part 5 - Financial assistance scheme (Not applied) Part 6 - Miscellaneous Supplement No. 178 [March 2019] 4A.562 (SD851/09) Pensions Act 2008 (c. 30) Section 100 PENSIONS ACT 2008 2008 CHAPTER 30 Part 1 - Pension scheme membership for jobholders 1. to 99. (Not applied) Part 2 - Simplification etc Private pensions 100. Abolition of safeguarded rights [Provided that Part 3A of the Pension Schemes Act 1993 ceased to have effect.] 101. Revaluation of accrued benefits etc (1) Schedule 2, which - (a) amends Schedule 3 to the Pension Schemes Act 1993 (methods of revaluing accrued pension benefits), and (b) ......1 (c) makes consequential amendments, has effect. (2) The amendments made by Parts 1 and 3 of Schedule 2 do not apply in relation to a revaluation period ending before this section comes into operation. (3) In subsection (2), “revaluation period” has the same meaning as in paragraph 2 of Schedule 3 to the Pension Schemes Act 1993. State pensions etc 102. Consolidation of additional pension (Repealed) 103. Effect of entitlement to guaranteed minimum pension (Repealed)2 104. Additional pension etc: minor and consequential amendments Schedule 4 (additional pension etc: minor and consequential amendments) has effect. 105. State pension credit: extension of assessed income period for those aged 75 or over (Not applied) 106. Contracting-out: abolition of all protected rights (1) As from the contracting-out abolition date, pension schemes are not required to make special provision in relation to the protected rights of members. (2) Accordingly - (a) the provisions of the Pension Schemes Act 1993 (c. 48) (“the 1993 Act”) within subsection (3) cease to have effect as from that date, and 1 Paragraph (b) not applied. 2 Sections 102 and 103 repealed by paragraph 96(a) of Part 4 of Schedule 12 to the Pensions Act 2014 from 6 April 2019 (SD2018/0076). Supplement No. 178 [March 2019] 4A.563 (SD851/09) Pensions Act 2008 (c. 30) Section 135 (b) sections 25A, 27A and 32A of the 1993 Act (as inserted by paragraphs 9, 10 and 12 of Schedule 4 to the Pensions Act 2007 (c. 22)) are not to have any effect as from that date (in spite of section 15(4) of that Act of 2007). (3) The provisions of the 1993 Act within this subsection are - (a) [Specified section 10.] (b) [Specified section 26.] (c) [Specified section 27.] (d) [Specified section 30.] (e) [Specified section 32.] (f) [Specified section 33A.] (4) In this section - “the contracting-out abolition date” means the day appointed under section 30 of the Pensions Act 2007 (c. 22) (as that section of the Act has effect in the UK) for the coming into operation of section 15(1)1 of that Act (abolition of contracting-out for defined contribution pension schemes), and “protected rights” has the same meaning as in the 1993 Act (see section 10 of that Act). Part 3 - Pension compensation Chapter 1 - Pension compensation on divorce etc (Not applied) Chapter 2 - Other provision about pension compensation (Not applied) Part 4 - Financial assistance scheme (Not applied) Part 5 - Miscellaneous Miscellaneous provision relating to pensions (Not applied) State and official pensions 135. Additional Class 3 contributions (1) The Social Security Contributions and Benefits Act 1992 (c. 4) is amended as follows. (2) [Inserted section 13A.] (3) [Amended section 1(2)(d).] 136. Additional Class 3 contributions (Northern Ireland) (Not applied) 137. Official pensions: adjustment of increases in survivors’ pensions (1) Section 59 of the Social Security Pensions Act 1975 (c. 60) (increase of official pensions) is amended as follows. (2) Subsection (5ZA) is amended as follows. 1 The day appointed by order for the coming into operation of section 15(1) of the Pensions Act 2007 (c. 22) is 6 April 2012. Supplement No. 178 [March 2019] 4A.564 (SD851/09) Pensions Act 2008 (c. 30) Section 145 (3) In the words before paragraph (a)- (a) [Amended the text.] (b) [Inserted text.] (4) [Amended paragraph (a).] (5) In paragraph (b)- (a) [Inserted text.] (b) [Amended the text.] (6) [Amended paragraph (c).] (7) [Omitted text.] (8) [Inserted subsections (5ZB) and (5ZC).] 138. War pensions: effect of later marriage or civil partnership (Not applied) 139. Polish Resettlement Act 1947: effect of residence in Poland (Not applied) 140. Pre-1948 insurance affecting German pension entitlement (Not applied) 141. Pre-1948 insurance: supplementary (Not applied) Information relating to state pension credit recipients 142. Disclosure of information relating to state pension credit recipients (Not applied) Part 6 - General 143. Orders and regulations (Not applied) 144. Orders and regulations: supplementary (Not applied) 145. Power to make further provision (1) The Department may by order make - (a) such supplemental, incidental or consequential provision, or (b) such transitory, transitional or saving provision, as it thinks appropriate for the general purposes, or any particular purpose, of this Act or in consequence of any provision made by or under this Act or for giving full effect to this Act or any such provision. (2) to (4) ......1 (5) An order made under subsection (1) shall not have effect unless it is approved by Tynwald. 146. Pre-consolidation amendments (Not applied) 147. General financial provisions (Not applied) 148. Repeals Schedule 11 (repeals) has effect. 149. Commencement (Not applied) 1 Subsections (2) to (4) not applied. Supplement No. 142 [March 2014] 4A.565 (SD851/09) Pensions Act 2008 (c. 30) Section 151 150. Extent (Not applied) 151. Short title This Act may be cited as the Pensions Act 2008. Supplement No. 142 [March 2014] 4A.566 (SD851/09) Pensions Act 2008 (c. 30) Schedule 2 Schedule 1 - The trustee corporation (Not applied) Schedule 2 - Revaluation of accrued benefits etc Section 101 Part 1 - Revaluation of accrued pension benefits Amendments to Schedule 3 to the 1993 Act 1. This Part makes amendments to Schedule 3 to the Pension Schemes Act 1993 (c. 48) (methods of revaluing accrued pension benefits). 2. [Substituted paragraphs 1(1) to (1E), (2) to (3A) for paragraphs 1(1) to (3).] 3. (1) Paragraph 2 (the revaluation percentage and the appropriate revaluation percentage) is amended as follows. (2) [Substituted text and heads (a) and (b) for text in subparagraph (1).] (3) [Substituted subparagraphs (3) and (3A) for subparagraph (3).] (4) [Substituted subparagraphs (6) and (7).] Part 2 - Revaluation of accrued amounts etc (Not applied) Part 3 - Consequential amendments 8.
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