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Pension Schemes Legislation (Application) Order 2018 Index

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Pension Schemes Legislation (Application) Order 2018 Index Pension Schemes Legislation (Application) Order 2018 Index c PENSION SCHEMES LEGISLATION (APPLICATION) ORDER 2018 Index Article Page 1 Title ................................................................................................................................... 3 2 Commencement .............................................................................................................. 3 3 Interpretation ................................................................................................................... 3 4 Effect ................................................................................................................................. 4 5 Cessation .......................................................................................................................... 5 6 Application to the Island of the applied legislation ................................................... 5 SCHEDULE 1 7 THE OCCUPATIONAL PENSION SCHEMES (POWER TO AMEND SCHEMES TO REFLECT ABOLITION OF CONTRACTING-OUT) REGULATIONS 2015 7 SCHEDULE 2 18 THE PENSIONS ACT 2014 (SAVINGS) ORDER 2015 18 SCHEDULE 3 21 THE OCCUPATIONAL PENSION SCHEMES (SCHEMES THAT WERE CONTRACTED-OUT) (NO.2) REGULATIONS 2015 21 SCHEDULE 4 57 THE PENSIONS ACT 2014 (COMMENCEMENT NO.7) AND (SAVINGS) (AMENDMENT) ORDER 2015 57 SCHEDULE 5 59 THE STATE PENSION AND OCCUPATIONAL PENSION SCHEMES (MISCELLANEOUS AMENDMENTS) REGULATIONS 2016 59 SCHEDULE 6 62 THE PENSIONS ACT 2014 (ABOLITION OF CONTRACTING-OUT FOR SALARY RELATED PENSION SCHEMES) (CONSEQUENTIAL AMENDMENTS AND SAVINGS) ORDER 2016 62 c SD No. 2018/0265 Page 1 Index Pension Schemes Legislation (Application) Order 2018 SCHEDULE 7 74 THE OCCUPATIONAL AND PERSONAL PENSION SCHEMES (MODIFICATION OF SCHEMES - MISCELLANEOUS AMENDMENTS) REGULATIONS 2016 74 SCHEDULE 8 77 THE PENSIONS ACT 2014 (CONTRIBUTIONS EQUIVALENT PREMIUM) (CONSEQUENTIAL PROVISION) AND (SAVINGS) (AMENDMENT) ORDER 2016 77 SCHEDULE 9 85 THE OCCUPATIONAL PENSION SCHEMES AND SOCIAL SECURITY (SCHEMES THAT WERE CONTRACTED-OUT AND GRADUATED RETIREMENT BENEFIT) (MISCELLANEOUS AMENDMENTS) REGULATIONS 2017 85 Page 2 SD No. 2018/0265 c Pension Schemes Legislation (Application) Order 2018 Article 1 Statutory Document No. 2018/0265 c Pension Schemes Act 1995 PENSION SCHEMES LEGISLATION (APPLICATION) ORDER 2018 Approved by Tynwald: 21st November 2018 Coming into Operation in accordance with article 2 The Treasury makes the following Order under sections 1 and 2 of the Pension Schemes Act 1995. 1 Title This Order is the Pension Schemes Legislation (Application) Order 2018. 2 Commencement If approved by Tynwald, this Order comes into operation on the day after it is approved by Tynwald1. 3 Interpretation (1) In this Order “the applied legislation” means the — (a) the Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-out) Regulations 20152; (b) the Pensions Act 2014 (Savings) Order 20153; (c) the Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 20154; (d) the Pensions Act 2014 (Commencement No.7) and (Savings) (Amendment) Order 20155; (e) the State Pension and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 20166; 1 Tynwald approval is required by section 1(4) of the Pension Schemes Act 1995. 2 S.I. 2015/118. 3 S.I. 2015/1502. 4 S.I. 2015/1677. 5 S.I. 2015/2058 (c.129). 6 S.I. 2016/199. c SD No. 2018/0265 Page 3 Article 4 Pension Schemes Legislation (Application) Order 2018 (f) the Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 20167; (g) the Occupational and Personal Pension Schemes (Modification of Schemes - Miscellaneous Amendments) Regulations 20168; (h) the Pensions Act 2014 (Contributions Equivalent Premium) (Consequential Provision) and (Savings) (Amendment) Order 20169; and (i) the Occupational Pension Schemes and Social Security (Schemes that were Contracted-out and Graduated Retirement Benefit) (Miscellaneous Amendments) Regulations 201710. (2) Unless the context otherwise requires or it is expressly provided, a reference in the applied legislation to a provision of any such legislation or of any other legislation applied to the Island by an order under section 1 of the Social Security Act 2000 or section 1 of the Pension Schemes Act 1995 shall be construed as a reference to that legislation as it has effect in the Island. 4 Effect (1) The applied legislation has effect in accordance with paragraphs (2) to (10). (2) The Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-out) Regulations 2015 have effect from 6 April 2019. (3) The Pensions Act 2014 (Savings) Order 2015 has effect from 6 April 2019. (4) The Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 2015 have effect — (a) for all other purposes apart from regulation 33 of those Regulations, from 6 April 2019; and (b) for the purposes of regulation 33 of those Regulations, from 6 April 2022. (5) The Pensions Act 2014 (Commencement No.7) and (Savings) (Amendment) Order 2015 has effect — (a) for the purposes of article 1 of that Order, from 15 January 2019; and (b) for the purposes of article 3 of that Order, from 6 April 2019. 7 S.I. 2016/200. 8 S.I. 2016/231. 9 S.I. 2016/252. 10 S.I. 2017/354. Page 4 SD No. 2018/0265 c Pension Schemes Legislation (Application) Order 2018 Article 5 (6) The State Pension and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2016 have effect from 6 April 2019. (7) The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 has effect — (a) for the purposes of Parts 1 and 2 of that Order, from 6 April 2019; (b) for the purposes of Part 3 of that Order, from 6 April 2020; (c) for the purposes of Part 4 of that Order, from 6 April 2022; and (d) for the purposes of Part 5 of that Order, from 6 April 2024. (8) The Occupational and Personal Pension Schemes (Modification of Schemes - Miscellaneous Amendments) Regulations 2016 have effect from 6 April 2019. (9) The Pensions Act 2014 (Contributions Equivalent Premium) (Consequential Provision) and (Savings) (Amendment) Order 2016 has effect from 6 April 2019. (10) The Occupational Pension Schemes and Social Security (Schemes that were Contracted-out and Graduated Retirement Benefit) (Miscellaneous Amendments) Regulations 2017 have effect from 6 April 2020. 5 Cessation Paragraphs (1), (2), (3A) and (5A) of article 2 of the Pensions Act 2014 (Savings) Order 2015 (as that Order has effect as amended by the Pensions Act 2014 (Commencement No.7) and (Savings) (Amendment) Order 2015 and the Pensions Act 2014 (Contributions Equivalent Premium) (Consequential Provision) and (Savings) (Amendment) Order 2016) cease to have effect on 6 April 2022. 6 Application to the Island of the applied legislation (1) The applied legislation, incorporating the exceptions, adaptations and modifications subject to which it applies to the Island, is set out in the Schedules and applies to the Island as part of the law of the Island. (2) The applied legislation mentioned in — (a) article 3(1)(a) is set out in Schedule 1; (b) article 3(1)(b) is set out in Schedule 2; (c) article 3(1)(c) is set out in Schedule 3; (d) article 3(1)(d) is set out in Schedule 4; (e) article 3(1)(e) is set out in Schedule 5; (f) article 3(1)(f) is set out in Schedule 6; (g) article 3(1)(g) is set out in Schedule 7; (h) article 3(1)(h) is set out in Schedule 8; and c SD No. 2018/0265 Page 5 Article 6 Pension Schemes Legislation (Application) Order 2018 (i) article 3(1)(i) is set out in Schedule 9. MADE 24TH OCTOBER 2018 A L CANNAN Minister for the Treasury Page 6 SD No. 2018/0265 c Pension Schemes Legislation (Application) Order 2018 SCHEDULE 1 SCHEDULE 1 [Article 6(2)(a)] This Schedule sets out the text of the Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-Out) Regulations 2015 (SI 2015/118) as applied by this Order, with such exceptions, adaptations and modifications made where necessary, which appear in bold italic type. STATUTORY INSTRUMENTS 2015 No. 118 PENSIONS The Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-Out) Regulations 2015 Made - - - - 25th February 2015 Laid before Parliament 4th March 2015 Coming into force - - 6th April 2016 The Secretary of State for Work and Pensions, in exercise of the powers conferred by sections 24(5) and 54(5) and (6), of and paragraphs 2(3) and (4), 4, 6, 10(1), 12, 13, and 14(1) and (2) of Schedule 14 to, the Pensions Act 2014, makes the following Regulations: 1. Citation [...] (1) These Regulations may be cited as the Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-out) Regulations 2015. (2) Omitted. 2. Interpretation In these Regulations— “the Act” means the Pensions Act 201411; [...] “actuarial valuation” means a written report, prepared and signed by the actuary, valuing the scheme’s assets and calculating its technical provisions; “the actuary” means the actuary appointed in accordance with regulation 10(2); “the amendment date” means the date amendments made using the power take effect; “the calculation date” means the date chosen in accordance with regulation 8(7); 11 2014 c.19 (see SD 2018/0076). c SD No. 2018/0265 Page 7 SCHEDULE 1 Pension Schemes Legislation (Application) Order 2018 “the effective date of an actuarial valuation” means the date by reference
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