- approved pension arrangement
means—
- benefit
includes (in addition to any benefit under Parts II to V of this Act)— (a) any benefit under Parts VII to XII of this Act, and (b) credits under regulations under section 22(5) above;
- benefits under a pension arrangement
includes any benefits by way of pension, including relevant state scheme rights, whether under a pension arrangement or not;” ““pension arrangement” means— a any occupational pension scheme within the meaning of the Pension Schemes Act 1993;
- business
includes any activity carried on— (a) by a government department or public or local authority (in the United Kingdom or elsewhere), or (b) by a body corporate, unincorporated body or partnership;
- commencement day
means the day appointed for the coming into force of section 280 of the Pensions Act 2004 (amendments to section 40);
- designated
means designated by the Secretary of State;
- direct payment arrangements
means arrangements under which contributions fall to be paid by or on behalf of the employer towards the scheme— a on the employer’s own account (but in respect of the employee);
- document
includes information recorded in any form, and any reference to production of a document, in relation to information recorded otherwise than in legible form, is to producing a copy of the information in legible form;
- dwelling
has the same meaning as in Part VII of the Contributions and Benefits Act (income-related benefits);
- employer
means any employer, whether or not resident or incorporated in any part of the United Kingdom;
- employment
has the meaning given by regulations under this section;
- employment officer
means an officer of the Secretary of State or such other person as may be designated for the purposes of that subsection by an order made by the Secretary of State.”
- enactment
includes an enactment comprised in subordinate legislation (within the meaning of the Interpretation Act 1978).
- facilities
includes services, and any reference to the provision of facilities includes the making of payments to persons participating in the scheme.
- final relevant year
means the tax year immediately preceding that in which the pensioner attains pensionable age;
- income-related benefit
has the meaning given by section 123(1) of the Contributions and Benefits Act;
- incremental period
means any period of six days which are treated by regulations as days of increment for the purposes of this section in relation to the person and pension in question;
- inspector
means a person appointed by the Regulatory Authority as an inspector. 9 References in this section to, or to any provision of, section 111A include references to corresponding provisions of Northern Ireland legislation;
- intermediate arrangement
means a pension arrangement, other than the shared arrangement or the destination arrangement, in relation to which the following conditions are fulfilled— a there was a time when the transferee had rights under the arrangement that were derived (directly or indirectly) from the pension-sharing transaction, and b the transferee’s rights under the destination arrangement (so far as derived from the pension-sharing transaction) are to any extent derived (directly or indirectly) from the rights mentioned in paragraph (a). 5 Nothing in— a any provision of section 159 of the Pension Schemes Act 1993 or section 91 of the Pensions Act 1995 (which prevent assignment and the making of orders which restrain a person from receiving anything which he is prevented from assigning), b any provision of any enactment (whether passed or made before or after the passing of the Welfare Reform and Pensions Act 1999) corresponding to any of the provisions mentioned in paragraph (a), or c any provision of the destination arrangement corresponding to any of those provisions, applies to a court exercising its powers under section 339 or 340. 6 Regulations may, for the purposes of
- local authority
has the same meaning as in the Administration Act;
- maximum percentage
means—
- modifications
includes additions, omissions and amendments.”
- money purchase benefit
has the meaning given by section 181(1) of the Pension Schemes Act 1993;
- occupational pension scheme
has the meaning given in section 150(5) of the Finance Act 2004;
- overpayment
means an amount of benefit paid in excess of entitlement;
- party
means a party to a marriage.”
- pension arrangement
means (a) an occupational pension scheme, (b) a personal pension scheme, (c) a retirement annuity contract, (d) an annuity or insurance policy purchased, or transferred, for the purpose of giving effect to rights under an occupational pension scheme or a personal pension scheme, and (e) an annuity purchased, or entered into, for the purpose of discharging liability in respect of a pension credit under section 29(1)(b) or under corresponding Northern Ireland legislation;
- pension credit
includes a credit under Northern Ireland legislation corresponding to section 29(1)(b), and
- pension credit rights
means rights to future benefits under a scheme which are attributable (directly or indirectly) to a pension credit;
- pension debit
means a debit under section 29(1)(a);
- pension payment
means— a a periodical payment made in relation to a person under a personal pension scheme or, in connection with the coming to an end of an employment of his, under an occupational pension scheme or a public service pension scheme;
- pension scheme
has the meaning given in section 150(1) of the Finance Act 2004 and “registered pension scheme” means a pension scheme registered under section 153 of the Finance Act 2004;
- pension-sharing transaction
means an order or provision falling within section 28(1) of the Welfare Reform and Pensions Act 1999 (orders and agreements which activate pension-sharing);
- personal pension scheme
has the same meaning as in the Pension Schemes Act 1993;
- prescribed
means prescribed by regulations under this section;
- principal pension
means a pension which— a is payable in respect of the pensioner’s own services, or b is attributable to the pensioner having become entitled to a pension credit;”
- public service pension scheme
has the same meaning as in the Pension Schemes Act 1993.
- qualifying agreement
means an agreement entered into in such circumstances, and satisfying such requirements, as may be prescribed;
- qualifying benefit
means—
- qualifying occupational pension scheme
means an occupational pension scheme which is not a public service pension scheme;
- qualifying scheme
means a funded occupational pension scheme and a personal pension scheme;
- regulations
means regulations made by the Secretary of State. 10 Regulations under this section may— a make different provision for different cases;
- related annuity
means an annuity purchased on or after the de-registration date for the purpose of giving effect to rights under the scheme or (as the case may be) to rights arising by virtue of the arrangements.
- relevant arrangement
means the arrangement to which the relevant order or provision relates;
- relevant authority
means an authority administering housing benefit or council tax benefit.
- relevant benefit
means housing benefit, council tax benefit or any other benefit prescribed for the purposes of this section;
- relevant contributions
means contributions to the arrangement or any other pension arrangement— a which the individual has at any time made on his own behalf, or b which have at any time been made on his behalf. 6 The court shall, in determining whether it is satisfied under subsection (2)(b), consider in particular— a whether any of the contributions were made for the purpose of putting assets beyond the reach of the individual’s creditors or any of them, and b whether the total amount of any contributions— i made by or on behalf of the individual to pension arrangements, and ii represented (whether directly or indirectly) by rights under approved pension arrangements or excluded rights under unapproved pension arrangements, is an amount which is excessive in view of the individual’s circumstances when those contributions were made. 7 For the purposes of this section and sections 342B and 342C (“the recovery provisions”), rights of an individual under an unapproved pension arrangement are excluded rights if they are rights which are excluded from his estate by virtue of regulations under section 12 of the Welfare Reform and Pensions Act 1999. 8 In the recovery provisions— • “app
- relevant date
means the date on which section 87 of the Pensions Act 2008 comes into force. •... •...
- relevant function
means any function conferred by virtue of section 2A, 2C or 7A above. 3 The following provisions, namely— a in section 140B, subsections (1), (3), (4), (5)(b), (7)(b) and (8), and b section 140C, apply in relation to a payment under this section as in relation to a payment of subsidy. 4 The Secretary of State may (without prejudice to the generality of his powers in relation to the amount of subsidy) take into account the fact that an amount has been paid under this section in respect of costs falling within section 140B(4A)(a) above.”
- relevant institution
means— a an institution authorised under the Banking Act 1987;
- relevant order or provision
means the order or provision by virtue of which this section applies (see section 48);
- relevant payments or benefits
means payments or benefits of any specified description made or provided (whether to the intermediary or the worker or otherwise) in connection with the performance by the worker of the services in question;
- relevant pension credit
means the pension credit to which the eligible pension credit rights... are (directly or indirectly) attributable;
- relevant percentage increases
means percentage increases estimated by the Secretary of State from time to time for the purposes of paragraph 2(3)(a) of Schedule 3 to the Pension Schemes Act 1993 for revaluation periods of 12 months.
- relevant purposes
means purposes connected with— (a) social security, child support or war pensions, or (b) employment or training;
- retirement annuity contract
means an annuity contract or trust scheme approved under section 620 or 621 of the Income and Corporation Taxes Act 1988 or a substituted contract within the meaning of section 622(3) of that Act which became a registered pension scheme by virtue of paragraph 1(1)(f) of Schedule 36 to the Finance Act 2004, • “trustees or managers”, in relation to an occupational pension scheme or a personal pension scheme, means— (a) in the case of a scheme established under a trust, the trustees of the scheme, and (b) in any other case, the managers of the scheme.
- review
means a review taking place by virtue of section 25(1)(a) or (b), 30(2)(a) or (b) or 35(1)(a) or (b) of the Administration Act;
- safeguarded rights
has the meaning given in section 68A of the Pension Schemes Act 1993.
- scheme
means an occupational pension scheme to which this Chapter applies;
- shareable rights
has the meaning given by section 27(2);
- shareable state scheme rights
has the same meaning as in section 21A(1) above;
- social security information
means... information relating to social security, child support or war pensions;
- social security matters
means matters relating to social security, child support or war pensions;
- specified
means prescribed by or determined in accordance with regulations under this section. 6 For the purposes of subsection (5) “occupational pension scheme”, “personal pension scheme” and “public service pension scheme” each have the meaning given by section 1 of the Pension Schemes Act 1993, except that “personal pension scheme” includes a contract or trust scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988 (retirement annuities).”
- specified percentage
means the percentage specified in the relevant order or provision for the purposes of subsection (3);
- state scheme pension credit
means a credit under section 49(1)(b) of the Welfare Reform and Pensions Act 1999 (credit for the purposes of this Part of this Act);
- state scheme pension debit
means a debit under section 49(1)(a) of the Welfare Reform and Pensions Act 1999 (debit for the purposes of this Part of this Act);
- tax year
has the meaning given by section 122(1) of the Contributions and Benefits Act.
- the 1993 Act
means the Pension Schemes Act 1993;
- the 1995 Act
means the Pensions Act 1995;
- the Administration Act
means the Social Security Administration Act 1992;
- the applicable provisions of this Act
means this Part of this Act and Parts II to V below;
- the appointed day
means the day appointed for the coming into force of sections 54 to 56 of the Welfare Reform and Pensions Act 1999.”
- the appropriate amount
means the aggregate of— a the percentage for non-contributing earners of the total reckonable earnings paid or payable, in the period of 12 months referred to in sub-paragraph (1) or (2) (as the case may be), to or for the benefit of non-contributing earners;
- the Authority
means the Pensions Regulator;
- the Class 1B percentage
means a percentage rate equal to that specified as the secondary percentage in section 9(2) above for the tax year in question.”
- the Contributions and Benefits Act
means the Social Security Contributions and Benefits Act 1992.
- the Department
means the Department of Health and Social Services for Northern Ireland.
- the excess amount
has the meaning given by section 47(4);
- the intermediary
means— i where the third person mentioned in subsection (1)(b) above has such a contractual or other relationship with the worker as may be specified, that third person, or ii where that third person does not have such a relationship with the worker, any other person who has both such a relationship with the worker and such a direct or indirect contractual or other relationship with the third person as may be specified;
- the other party
means the other party to the marriage;
- the party with pension rights
means the party to the marriage who has or is likely to have benefits under a pension arrangement and “the other party” means the other party to the marriage;
- the recovery provisions
means this section and sections 342A and 342B;
- the Regulatory Authority
means the Pensions Regulator.
- the relevant age
means— a in relation to the conditions mentioned in paragraph (a), (b) or (c) of that subsection, the age of 3;
- the relevant tax year
means the tax year in which the beginning of the period of 66 weeks mentioned in section 35(1)(b) above falls;
- the relevant time
means— a where the pensioner became entitled to a widowed parent’s allowance in consequence of the death of the spouse, the time when the pensioner’s entitlement to that allowance ended;
- the Secretary of State
means the Secretary of State having responsibility for social security.
- the SERPS reduction
means—
- the Taxes Act
means the Income and Corporation Taxes Act 1988.
- the threshold
means— a if the period in question is a week, £85 or such greater amount as may be prescribed;
- transfer day
means the day on which the relevant order or provision takes effect;
- transfer notice
means a notice under subsection (1). 101G 1 In the case of a salary related occupational pension scheme, the power to give a transfer notice may only be exercised if— a the member has been provided with a statement under section 101H, and b not more than 3 months have passed since the date by reference to which the amount shown in the statement is determined. 2 The power to give a transfer notice may not be exercised in the case of an occupational pension scheme if— a there is less than a year to go until the member reaches normal benefit age, or b the pension to which the member is entitled by virtue of his pension credit rights, or benefit in lieu of that pension, or any part of it has become payable. 3 Where an eligible member of a qualifying scheme— a is entitled to make an application under section 95 to the trustees or managers of the scheme, or b would be entitled to do so, but for the fact that he has not received a statement under section 93A in respect of which the guarantee date is sufficiently recent, he may not, if the scheme so provides, exercise the power to give them a transfer notice unless he also makes an application to them under section 95. 4
- transferee
means the person for whose benefit the relevant order or provision is made.
- transferor
means the person to whose rights the relevant order or provision relates;
- unapproved pension arrangement
means a pension arrangement which— (a) is not an approved pension arrangement within the meaning of section 11, and (b) is of a prescribed description.
- valuation day
means the day on which the pensioner becomes entitled to the state scheme pension credit. 55B 1 The weekly rate of a shared additional pension shall be reduced as follows in any case where— a the pensioner has become subject to a state scheme pension debit, and b the debit is to any extent referable to the pension. 2 If the pensioner became subject to the debit in or after the final relevant year, the weekly rate of the pension shall be reduced by the appropriate weekly amount. 3 If the pensioner became subject to the debit before the final relevant year, the weekly rate of the additional pension shall be reduced by the appropriate weekly amount multiplied by the relevant revaluation percentage. 4 The appropriate weekly amount for the purposes of subsections (2) and (3) above is the weekly rate, expressed in terms of the valuation day, at which the cash equivalent, on that day, of the pension mentioned in subsection (5) below is equal to so much of the debit as is referable to the shared additional pension. 5 The pension referred to above is a notional pension for the pensioner by virtue of section 55A above which becomes payable on the later of— a his attaining pen
- war pension
means a war pension within the meaning of section 25 of the Social Security Act 1989 (establishment and functions of war pensions committees).”
- war pensions
means war pensions within the meaning of section 25 of the Social Security Act 1989 (establishment and functions of war pensions committees).