Pension Schemes Act 1993

Pension Schemes Act 1993
Dates
Parliament of the United Kingdom
Long title	...
Citation	1993 c 48
Territorial extent	England and Wales; Scotland; Northern Ireland
Royal assent	5 November 1993
Status: Amended
Text of statute as originally enacted
Text of the Pension Schemes Act 1993 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk

The Pension Schemes Act 1993 (c 48) is a United Kingdom Act of Parliament that concerns the administration of occupational pensions.

Background

The Pension Schemes Act 1993 was the first statute to result from the comprehensive inquiry led by Roy Goode resulting in the command paper, Pension Law Reform.^[1]

Part I contains section 1 that sets out the three pillars, or categories of UK pensions: occupational pensions, personal or private pensions and the public or state pension.

Part II concerned administration of the pension system under an "Occupational Pensions Board", though this has now been replaced by the Pensions Regulator under the Pensions Act 2004.

Part III in sections 7 to 68 concerns the certification of pension schemes, and the rule that people with entitlement to such schemes get reduced state benefits, and other effects.

Part IV in sections 69 to 101 sets out minimum protection for early leavers from their jobs before an entitlement to an occupational pension arises.

Part V in sections 102 to 110 requires that pension schemes contain annual increases in line with prices, though sections 102 to 108 were soon replaced by the Pensions Act 1995.

Part VI in sections 111 to 118 contains further protections for scheme members regarding voluntary contributions and disclosure.

Part VII, in sections 119 to 128, set out the rules for insolvent schemes and the duty of the Secretary of State to reimburse employees, but was then replaced by the Pensions Act 1995..

Part VIII contains rules on the relationship between requirements of the Act and scheme rules, insofar as they are overridden by the Act. Part IX relates to how scheme trust deeds can be modified. Part X relates to investigations by the Pensions Ombudsman. Part X contains miscellaneous provisions, and Part XII holds supplementary provisions.

Notes

↑ (1993) Cm 2342

External links

Association of Member-Directed Pension Schemes (AMPS) - The principal body for discussing changes involved in the area of pension planning.

United Kingdom legislation

Pre-Parliamentary legislation	List of English statutes Charter of Liberties Magna Carta

Acts of Parliament by states preceding the Kingdom of Great Britain	Acts of the Parliament of England to 1483 1485–1601 1603–1641 Interregnum (1642–1660) 1660–1699 1700–1706 Acts of the Parliament of Scotland

Acts of Parliament of the Kingdom of Great Britain	1707–1719 1720–1739 1740–1759 1760–1779 1780–1800

Acts of the Parliament of Ireland	to 1700 1701–1800

Acts of Parliament of the United Kingdom of Great Britain and Ireland and the United Kingdom of Great Britain and Northern Ireland	1801–1819 1820–1839 1840–1859 1860–1879 1880–1899 1900–1919 1920–1939 1940–1959 1960–1979 1980–1999 2000 to date Halsbury's Statutes Legislation.gov.uk Short titles

Church of England measures	List Church of England Assembly (Powers) Act 1919

Legislation of devolved institutions	Acts of the Scottish Parliament List Acts and Measures of the National Assembly for Wales List Acts of the Northern Ireland Assembly List Acts of the Parliament of Northern Ireland List Orders in Council for Northern Ireland List

Orders-in-Council	Order in Council

Secondary legislation	United Kingdom Statutory Instruments Scottish Statutory Instruments Acts of Sederunt Acts of Adjournal

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Pension Schemes Act 1993

Background

Contents

See also

Notes

External links