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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Pension Schemes (Categories) Regulations 2005 No. 2401 URL: http://www.bailii.org/uk/legis/num_reg/2005/20052401.html |
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| Made | 25th August 2005 | ||
| Laid before Parliament | 1st September 2005 | ||
| Coming into force in accordance with regulation 1 |
Prescription of certain pension schemes as occupational pension schemes
2.
—(1) The pension schemes to which this regulation applies are prescribed as occupational pension schemes for the purposes of section 1(1) (categories of pensions schemes) of the Pension Schemes Act 1993 ("the 1993 Act").
(2) This regulation applies to a pension scheme—
(b) that has its main administration in the United Kingdom or outside the member States; and
(c) the terms of which provide that each participating employer is a contributor to the scheme.
(3) For the purposes of paragraph (2), "participating employer" means, in relation to a pension scheme, an employer who enters into arrangements (whether before or after the coming into force of these Regulations) with a view to the provision of benefits under the scheme to people with service in the employment of that employer.
(4) This regulation applies to a pension scheme established pursuant to paragraph 3.2 of Part 7 of Annex 2 to Schedule 1 to the North/South Co-operation (Implementation Bodies) (Northern Ireland) Order 1999[5] (agreement establishing implementation bodies: staffing arrangements).
(5) This regulation applies to a scheme which—
Prescription of certain stakeholder pension schemes as personal pension schemes
3.
A stakeholder pension scheme—
shall be treated for all purposes as a personal pension scheme.
Signed by authority of the Secretary of State for Work and Pensions.
Stephen C. Timms
Minister of State, Department for Work and Pensions
25 August 2005
Regulation 2 prescribes three descriptions of pension scheme as occupational pension schemes. These are—
Regulation 3 provides that a stakeholder pension scheme established under a trust, where the provisions of the scheme do not require the employer of any member of the scheme to make contributions to it, is to be treated as a personal pension scheme.
These Regulations are consequential upon section 239 of the Pensions Act 2004 and are made before the end of the period of six months beginning with the coming into force of that section of that Act. They are accordingly exempt from the requirement in section 185(1) of the Pension Schemes Act 1993 for the Secretary of State to consult such persons as he may consider appropriate before making these Regulations. However a consultation exercise was undertaken, except in respect of the provisions of regulation 2(5), in any event.
A Regulatory Impact Assessment has not been prepared for this instrument as it has no impact on business, charities or voluntary bodies.
[2] 1999 c.30; section 8(1) is amended by section 7(2)(c) of the Pensions Act 2004 and is cited because of the meaning there given to "prescribed"; section 8(2) is amended by section 319(1) of, and paragraph 74 of Schedule 12 to, the Pensions Act 2004.back
[4] See section 185(1) of the Pension Schemes Act 1993 which provides that the Secretary of State must consult such persons as he considers appropriate before making regulations for the purposes of Part 1 (among others) of that Act. By virtue of section 185(2)(e) this duty does not apply to regulations which state that they are consequential upon a specified enactment and are made before the end of the period of six months beginning with the coming into force of that enactment. Section 185(1) is amended by sections 122, 151 and 177 of, and paragraph 46 of Schedule 3, paragraph 80(a) of Schedule 5 and Part 1 of Schedule 7 to, the Pensions Act 1995 (c.26). Paragraph (e) of section 185(2) was inserted by section 151 of, and paragraph 80(b) of Schedule 5 to, the Pensions Act 1995.back
