Pensions Act 2007: Elizabeth II, Part 22

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The Stationery Office, Aug 2, 2007 - Business & Economics - 78 pages
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The Act is in four parts. Part 1 concerns the State Pension: the entitlement to Category A and B retirement pensions; credits for basic state pension; abolition of adult dependency increases; up-rating of basic state pension and other benefits; additional pensions; increase in state pension age. Part 2 is about occupational and personal pension schemes: conversion of guaranteed minimum pensions; abolition of contracting-out for defined contribution pension schemes; dispute resolution; removal of the Secretary of State's role in approving actuarial guidance; financial assistance scheme; temporary restriction on purchase of annuities. Part 3 concerns the setting up of the Personal Accounts Delivery Authority. Part 4 contains general measure.
 

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Contents

Pensions Act
1
Preservation of link with prices in case of other benefits
7
simplification of accrual rates 10 Additional pension removal of accrual band from 201011
11
simplified accrual rates as from flat rate introduction year 12 Additional pension upper accrual point
13
Increase in state pension age 13 Increase in pensionable age for men and women PART
15
Abolition of contractingout for defined contribution pension schemes Dispute resolution 16 Dispute resolution arrangements
20
increased levels of payments
22
Temporary restriction on purchase of annuities PARTS PERSONAL ACCOUNTS DELIVERY AUTHORITY 20 Personal Accounts Delivery Authority
24
Initial function of the Authority 22 Management of the Authority
25
Winding up of the Authority
26
PART 4
27
Financial provisions
28
Extent 30 Commencement 31 Short title
29

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