PART 9 continued
(1) Subject to subsections (2) and (3), a statutory instrument containing regulations or an order or rules under this Act is subject to annulment in pursuance of a resolution of either House of Parliament.
(2) A statutory instrument which contains—
(a) regulations under section 117(1) or (3) (administration levy in respect of expenditure relating to the Board of the Pension Protection Fund);
(b) regulations under section 167 (modification of Chapter 3 of Part 2 where liabilities discharged during the assessment period);
(c) regulations under section 174 (the initial levy);
(d) regulations under section 175 (pension protection levies);
(e) an order under section 177(6) (orders relating to amounts to be raised by pension protection levies);
(f) an order under section 178(1) (the levy ceiling);
(g) an order or regulations under section 209 (the PPF Ombudsman);
(h) regulations under section 213 (reference of reviewable matter to the PPF Ombudsman);
(i) regulations under section 214 (investigation by PPF Ombudsman of complaints of maladministration);
(j) regulations under section 237 (combined pension forecasts);
(k) regulations under section 238 (information and advice to employees);
(l) an order under section 243(1) (power to provide for minimum fraction of member-nominated trustees or directors to be one-half);
(m) regulations which make provision by virtue of section 261(2)(f) (power to make amendments etc to certain Acts);
(n) regulations under section 286 (financial assistance scheme for members of certain pension schemes);
(o) regulations which make provision by virtue of section 314(b) (power to provide for contravention of regulations to be criminal offence);
(p) regulations under section 318(4)(b) (power to extend meaning of employer);
(q) an order under section 319(2)(a) (power to make consequential amendments to Acts);
(r) an order under paragraph 24(8) of Schedule 7 (power to vary percentage of periodic compensation that can be commuted);
(s) an order under paragraph 26(7) of that Schedule (orders specifying the compensation cap in respect of payments from the Pension Protection Fund); or
(t) an order under paragraph 30(1) of that Schedule (power to vary percentage paid as compensation from the Pension Protection Fund);
must not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.
(3) Subsection (1) does not apply to—
(a) an order under section 91(9) (commencement of code of practice);
(b) an order under section 126(2) (schemes winding up before day appointed by order not eligible schemes for purposes of Part 2);
(c) an order under section 182(10) (order appointing day after which losses of non-trust schemes are relevant for fraud compensation purposes);
(d) an order under section 322 (commencement).
(1) Before the Secretary of State makes any regulations by virtue of this Act (other than Part 8), he must consult such persons as he considers appropriate.
(2) Subsection (1) does not apply—
(a) to regulations contained in a statutory instrument made for the purpose only of consolidating other instruments revoked by it,
(b) in a case where it appears to the Secretary of State that by reason of urgency consultation is inexpedient,
(c) to regulations contained in a statutory instrument made before the end of the period of six months beginning with the coming into force of the provision of this Act by virtue of which the regulations are made, or
(d) to regulations contained in a statutory instrument which—
(i) states that it contains only regulations which are consequential upon a specified enactment, and
(ii) is made before the end of the period of six months beginning with the coming into force of that enactment.
(1) In this Act, unless the context otherwise requires—
“active member” has the meaning given by section 124(1) of the Pensions Act 1995 (c. 26);
“the Board” has the meaning given by section 107;
“contravention” includes failure to comply;
“direct payment arrangements”, in relation to a personal pension scheme, has the same meaning as in section 111A of the Pension Schemes Act 1993 (c. 48);
“earnings” has the meaning given by section 181(1) of the Pension Schemes Act 1993;
“employee” has the meaning given by section 181(1) of the Pension Schemes Act 1993;
“employer”—
in relation to an occupational pension scheme, means the employer of persons in the description of employment to which the scheme in question relates (but see subsection (4)), and
in relation to a personal pension scheme, where direct payment arrangements exist in respect of one or more members of the scheme who are employees, means an employer with whom those arrangements exist;
“enactment” includes an enactment comprised in subordinate legislation (within the meaning of the Interpretation Act 1978 (c. 30));
“managers”, in relation to an occupational or personal pension scheme (other than a scheme established under a trust), means the persons responsible for the management of the scheme;
“member”, in relation to an occupational pension scheme, means any active, deferred, pensioner or pension credit member within the meaning of section 124(1) of the Pensions Act 1995 (c. 26) (but see subsection (5));
“modifications” includes additions, omissions and amendments, and related expressions are to be construed accordingly;
“money purchase benefit” has the meaning given by section 181(1) of the Pension Schemes Act 1993 (c. 48);
“money purchase scheme” has the meaning given by section 181(1) of the Pension Schemes Act 1993;
“occupational pension scheme” has the meaning given by section 1 of the Pension Schemes Act 1993;
“pension credit” has the meaning given by section 124(1) of the Pensions Act 1995;
“personal pension scheme” has the meaning given by section 1 of the Pension Schemes Act 1993;
“the PPF Ombudsman” has the meaning given by section 209(1);
“prescribed” means prescribed by regulations;
“professional adviser”, in relation to an occupational pension scheme, has the meaning given by section 47 of the Pensions Act 1995;
“the register” has the meaning given by section 59(1);
“regulations” means regulations made by the Secretary of State;
“the Regulator” has the meaning given by section 1;
“the Tribunal” has the meaning given by section 102(1).
(2) In this Act, unless the context otherwise requires, references to the scheme rules, in relation to an occupational pension scheme, are references to—
(a) the rules of the scheme, except so far as overridden by a relevant legislative provision,
(b) the relevant legislative provisions, to the extent that they have effect in relation to the scheme and are not reflected in the rules of the scheme, and
(c) any provision which the rules of the scheme do not contain but which the scheme must contain if it is to conform with the requirements of Chapter 1 of Part 4 of the Pension Schemes Act 1993 (preservation of benefit under occupational pension schemes).
(3) For the purposes of subsection (2)—
(a) “relevant legislative provision” means any provision contained in any of the following provisions—
(i) Schedule 5 to the Social Security Act 1989 (c. 24) (equal treatment for men and women);
(ii) Chapters 2 to 5 of Part 4 of the Pension Schemes Act 1993 (c. 48) (certain protection for early leavers) or regulations made under any of those Chapters;
(iii) Part 4A of that Act (requirements relating to pension credit benefit) or regulations made under that Part;
(iv) section 110(1) of that Act (requirement as to resources for annual increase of guaranteed minimum pensions);
(v) Part 1 of the Pensions Act 1995 (c. 26) (occupational pensions) or subordinate legislation made or having effect as if made under that Part;
(vi) section 31 of the Welfare Reform and Pensions Act 1999 (c. 30) (pension debits: reduction of benefit);
(vii) any provision mentioned in section 306(2) of this Act;
(b) a relevant legislative provision is to be taken to override any of the provisions of the scheme if, and only if, it does so by virtue of any of the following provisions—
(i) paragraph 3 of Schedule 5 to the Social Security Act 1989 (c. 24);
(ii) section 129(1) of the Pension Schemes Act 1993;
(iii) section 117(1) of the Pensions Act 1995;
(iv) section 31(4) of the Welfare Reform and Pensions Act 1999;
(v) section 306(1) of this Act.
(4) Regulations may, in relation to occupational pension schemes, extend for the purposes of Parts 1, 2 and 4 to 7 and this Part the meaning of “employer” to include—
(a) persons who have been the employer in relation to the scheme;
(b) such other persons as may be prescribed.
(5) Regulations may for any purpose of any provision of this Act—
(a) prescribe the persons who are to be regarded as members or prospective members of an occupational or personal pension scheme, and
(b) make provision as to the times at which and circumstances in which a person is to be treated as becoming, or as ceasing to be, such a member or prospective member.
(1) Schedule 12 (which makes minor and consequential amendments) has effect.
(2) The Secretary of State may by order make provision consequential on this Act amending, repealing or revoking (with or without savings) any provision of—
(a) an Act passed before or in the same session as this Act, or
(b) an instrument made under an Act before the passing of this Act.
The enactments mentioned in Schedule 13 are repealed or revoked to the extent specified.
(1) The Secretary of State may by order make such modifications of—
(a) this Act,
(b) the Pension Schemes Act 1993 (c. 48),
(c) the Pensions Act 1995 (c. 26),
(d) Parts 1 to 4 of the Welfare Reform and Pensions Act 1999 (c. 30), and
(e) Chapter 2 of Part 2 of the Child Support, Pensions and Social Security Act 2000 (c. 19),
as in his opinion facilitate, or are otherwise desirable in connection with, the consolidation of those enactments or any of them.
(2) No order is to be made under this section unless a Bill for repealing and re-enacting—
(a) the enactments modified by the order, or
(b) enactments relating to matters connected with the matters to which enactments modified by the order relate,
has been presented to either House of Parliament.
(3) An order under this section is not to come into force until immediately before the commencement of the Act resulting from that Bill.
(1) Subject to subsections (2) to (4), the provisions of this Act come into force in accordance with provision made by the Secretary of State by order.
(2) The following provisions come into force on the day this Act is passed—
(a) in Part 4, sections 234, 235 and 236 and Schedule 10 (provisions relating to retirement planning);
(b) in Part 5, section 281 (exemption from statutory revaluation requirement);
(c) in Part 8—
(i) section 296 (entitlement to more than one state pension),
(ii) section 297(3) (commencement of amendments of state pension deferment provisions made by Pensions Act 1995),
(iii) section 298 (disclosure of state pension information), except subsections (4) and (5)(b), and
(iv) section 299 (claims for certain benefits following termination of reciprocal agreement with Australia);
(d) in this Part (miscellaneous and general)—
(i) sections 303 to 305 (service of notifications etc and electronic working), and
(ii) this section and sections 313, 315 (other than subsection (6)), 316, 317, 318 (other than subsections (4) and (5)) and 323 to 325;
(e) the repeal by this Act of section 50(2) of the Welfare Reform and Pensions Act 1999.
(3) Section 297 (and Schedule 11) (deferral of retirement pensions and shared additional pensions), other than the provisions coming into force in accordance with subsection (2)—
(a) come into force on the day this Act is passed so far as is necessary for enabling the making of any regulations for which they provide, and
(b) otherwise, come into force on 6th April 2005.
(4) The repeals by this Act of section 134(3) of, and paragraph 21(14) of Schedule 4 to, the Pensions Act 1995 (c. 26) come into force on 6th April 2005.
(5) Without prejudice to section 315(5), the power to make an order under this section includes power—
(a) to make transitional adaptations or modifications—
(i) of the provisions brought into force by the order, or
(ii) in connection with those provisions, of any provisions of Parts 1 to 7 of this Act or of the Pension Schemes Act 1993 (c. 48), the Pensions Act 1995, Parts 1, 2 or 4 of the Welfare Reform and Pensions Act 1999 (c. 30) or Chapter 2 of Part 2 of the Child Support, Pensions and Social Security Act 2000 (c. 19), or
(b) to save the effect of any of the repealed provisions of those Acts, or those provisions as adapted or modified by the order,
as it appears to the Secretary of State expedient, including different adaptations or modifications for different periods.
(1) Subject to the following provisions, this Act extends to England, Wales and Scotland.
(2) The following provisions of this Act also extend to Northern Ireland—
(a) in Part 1 (the Regulator)—
(i) sections 1, 2, 4 (other than subsection (2)(b)), 8, 9, 11, 59, 102 and 106,
(ii) in Schedule 1, paragraphs 1 to 19, 20(1) to (3) and (7), 21 (other than paragraph (b)), 22 to 25 and 27 to 35, and section 3 so far as it relates to those provisions, and
(iii) Schedule 4,
(b) in Part 2 (the Board)—
(i) sections 107, 108, 109, 110(1) and (3), 112, 113, 114, 115, 118, 119, 161(2)(a), (3) and (5) to (8), 173, 188, 209 (other than paragraphs (b) to (d), (f) and (g) of subsection (4), subsection (6) so far as relating to any of those paragraphs and subsections (7) and (8)), 210, 211(3) and (4), 212 and 220,
(ii) section 111 so far as that provision has effect in relation to functions of the Board conferred by any provision of, or made under, this Act which extends to Northern Ireland,
(iii) Schedule 5 (other than paragraph 18), and
(iv) Schedule 6 (other than paragraph 7),
(c) in Part 4 (retirement planning), sections 234 and 235 and paragraph 2 of Schedule 10 (and section 236 so far as it relates to that paragraph),
(d) in Part 5 (personal and occupational pension schemes: miscellaneous provisions), sections 274 and 277(2)(b),
(e) Part 6 (financial assistance scheme for members of certain pension schemes),
(f) in Part 8 (state pensions), section 299, and
(g) in this Part—
(i) sections 300(1) and (2), 301, 302(1) and (2), 307, 308 and 310,
(ii) sections 303 to 306, 309, 313, 315, 316 and 318 so far as those provisions have effect for the purposes of provisions which themselves extend to Northern Ireland, and
(iii) this section and sections 319(2), 321, 322, 324 and 325.
(3) Section 106 (legal assistance scheme) does not extend to Scotland.
(4) An amendment or repeal contained in this Act has the same extent as the enactment to which it relates and sections 236 (except so far as it relates to paragraph 2 of Schedule 10), 319(1) and 320 have effect accordingly.
(1) An Order in Council under paragraph 1(1) of the Schedule to the Northern Ireland Act 2000 (c. 1) (legislation for Northern Ireland during suspension of devolved government) which contains a statement that it is made only for purposes corresponding to those of this Act—
(a) is not subject to paragraph 2 of that Schedule (affirmative resolution of both Houses of Parliament), but
(b) is subject to annulment in pursuance of a resolution of either House of Parliament.
(2) Where an Order in Council to which subsection (1) applies makes provision (“the NI provisions”) which corresponds to the GB transfer provisions, regulations may make provision to secure that any transfer of property, rights and liabilities, or modification of a term of a contract of insurance, by virtue of the NI provisions is recognised for the purposes of the law of England and Wales and the law of Scotland.
(3) In subsection (2) “the GB transfer provisions” means section 161(1), (2)(a), (3) and (5) to (8) and Schedule 6 (other than paragraph 7).
This Act may be cited as the Pensions Act 2004.