The Occupational Pension Schemes (Age-related Payments) Regulations 1997

Made: 18th March 1997

Laid before Parliament: 20th March 1997

Coming into force in accordance with regulation 1(2)

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Citation, commencement and interpretation

1

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Age-related payments not to be paid after age-related moves made before the principal appointed day

2

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Age-related payments not to be paid if scheme rules require age-related moves: admission to the scheme before the principal appointed day

3

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Age-related payments not to be paid if an earner’s age allows his admission only to a money purchase scheme: admission to the scheme before the principal appointed day

4

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Age-related payments not to be paid after age-related moves on or after the principal appointed day

5

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Age-related payments not to be paid if scheme rules require age-related moves: admission to the scheme on or after the principal appointed day

6

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Age-related payments not to be paid if an earner’s age allows his admission only toa money purchase scheme or a money purchase part: admission to the scheme on or after the principal appointed day

7

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Disclosure to earners that the age-related payment will not be paid after an age-related move

8

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Disclosure to prospective members that the age-related payment will not be paid on admission to a money purchase scheme or money purchase part

9

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Penalties

10

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Signed

Signed by authority of the Secretary of State for Social Security.

MacKay of Ardbrecknish — Minister of State, — 1997-03-18

Explanatory note

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Footnotes

[^f00001]: 1993 c. 48; section 42A is inserted by section 137(5) of the Pensions Act 1995 (1995 c. 26); a new section 168 is substituted by section 155 of the Pensions Act 1995 from 6th Apirl 1997; section 181(1) is cited for the meaning it gives to “prescribe”.

[^f00002]: S.I. 1996 No. 1655.

[^f00003]: S.I. 1996 No. 1977.

[^f00004]: Section 9 of the 1993 Act is amended from 6th April 1997 by the Penalties Act 1995 section 136, and Schedule 5, paragraph 24.

[^f00005]: See section 1 of the Pensions Act 1995.

Editorial notes