Pensions Act 2007: Elizabeth II, Part 22
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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Preservation of link with prices in case of other benefits
simplification of accrual rates 10 Additional pension removal of accrual band from 201011
simplified accrual rates as from flat rate introduction year 12 Additional pension upper accrual point
Increase in state pension age 13 Increase in pensionable age for men and women PART
Abolition of contractingout for defined contribution pension schemes Dispute resolution 16 Dispute resolution arrangements
increased levels of payments
Temporary restriction on purchase of annuities PARTS PERSONAL ACCOUNTS DELIVERY AUTHORITY 20 Personal Accounts Delivery Authority
Initial function of the Authority 22 Management of the Authority
Winding up of the Authority
Extent 30 Commencement 31 Short title
Other editions - View all
6th April abolition date Abolition of contracting-out Accounts Delivery Authority Additional pension Administration Act amended as follows appointed appropriate scheme certificate attains pensionable age AUEL basic pension Benefits Act 1992 calculation Category B retirement chairman civil partner Class 1 contributions consequential and related contracting-out certificate contracting-out for defined contribution condition contribution pension schemes Contributions and Benefits contributor concerned defined contribution pension earner entitled executive members flat rate introduction GMP conversion guaranteed minimum pension HMRC low earnings threshold lower earnings limit money purchase contracted-out non-executive members Northern Ireland occupational pension scheme payable payment Pension Schemes Act Pensions Act 1995 Pensions Act 2004 Personal Accounts Delivery personal pension schemes prescribed protected rights provision purchase contracted-out scheme related amendments repeals and revocations requirements retirement pension Schemes Act 1993 section 24B simplified accrual rates Social Security Contributions SSCBA Category statutory instrument sub-paragraph subsequent tax upper accrual point upper earnings limit virtue of section