The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. Contribution notices and financial support directions under Pensions Act 2004. Popular Essays. R.S.C., 1985, c. P-6. Pensions Act 2008, Section 3 is up to date with all changes known to be in force on or before 10 December 2020. 22. Provisions of the Pensions Act 2008 recently came into force which will have a significant impact on the obligations on employers and the rights of employees. The Pensions Act 2008 (c 30) is an Act of the Parliament of the United Kingdom. 3.After section 8A insert— Pension compensation sharing orders: apportionment of... 4.In section 10 (sharing of value of matrimonial property or... 5.In section 12A (orders for payment of capital sum: pensions... 6.After section 12A insert— Order for payment of capital sum:... 7.In section 13 (order for periodical allowance), in subsection (2)(b),... 8.In section 16 (agreements on financial provision)—. The Pensions Act 2008 received Royal Assent on 26 November 2008. Short Title. 17. 9. Previous Versions. 9.After section 39 (the sum specified in a section 38... 10.After section 43 (financial support directions) insert— Financial support directions:... 11.In section 306(2) (overriding requirements)— (a) after paragraph (d) insert—... 12.In section 316(2) (subordinate legislation that is subject to affirmative... 13.In Part 4 of Schedule 2 (the reserved regulatory functions... Financial support directions: meaning of “insufficiently resourced”. Contribution notices: acting or failing to act otherwise than in good faith. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area. 20. 6. Act you have selected contains over Previous Page Table of Contents Next Page. This is called 'automatic enrolment'. (1) In section 44(3) (meaning of “insufficiently resourced”), for paragraph... Effect of amendments made by this Schedule. Changes that have been made appear in the content and are referenced with annotations. Caso … 4. Whether reasonable for Pensions Regulator to issue contribution notice. The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. National Pensions Act, 2008 Establishment of the Trust Object of the Trust Functions of the Trust Governing body of the Trust Knowledge and understanding of Board of Trustees Tenure of office of members Meetings of the Board of Trustees Disclosure of interest Establishment of committees Allowances Regional and district offices... Show More. (1) Section 51ZA of the Pensions Act 1995 (c. 26)... After Schedule 4B to the Social Security Contributions and Benefits... Additional pension etc: minor and consequential amendments, Social Security Contributions and Benefits Act 1992 (c. 4). 200 provisions and might take some time to download. An Act to make provision relating to pensions; and for connected purposes. 11. 16A. (1) This paragraph applies where — (a) the transferee dies... Part 3 Transferee attains pension compensation age after transfer day. Pension Act. (1) Relevant information held by the Secretary of State about... Part 4 Provisions applicable irrespective of age of transferee on transfer day. In this Alert we look at some of the key features of the new regime, as well as the more immediate changes which pension schemes can expect under the Act. In paragraph 13, after sub-paragraph (3) insert—. Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension scheme and contribute towards it. The first part of the reforms, taken forward by Pensions Act 2007, included reform of the state pension. A guide to the Pensions Act 2008. You Changes to Legislation. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below. No changes have been applied to the text. Use this menu to access essential accompanying documents and information for this legislation item. 1. 6.In paragraph 14(9), after “paragraph 20 (compensation in respect of... 7.In paragraph 15(6), after “paragraph 24 (commutation),” insert— “ paragraph... 8.In paragraph 18, after sub-paragraph (3) insert—. 18. 8. Marginal note: Construction. CONTRIBUTORY PENSIONS AMENDMENT ACT 2008 4 Amends section 12 5 Section 12(2)(a) of the principal Act is amended by deleting the words “insurance card” and substituting the words “contribution record”. 16. The Pensions Bill 2011 working its way through Parliament makes a number of amendments to the Act, ahead of its due date to be brought into force in 2012. In section 96 (standard procedure), after subsection (1) insert—. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run. 7. … 9. R.S., c. P-7, s. 1; Construction . 15. 6. 9. For more information see the EUR-Lex public statement on re-use. 20. (1) The Secretary of State may by regulations make provision... Board's power to alter rates of revaluation and indexation. (1) In section 38(5)(a) (main purpose or one of main... 3.In section 90(2) (the matters in relation to which the... 4.In section 96 (standard procedure), after subsection (1) insert—. The Act marks the next step on the route to the introduction of personal accounts; but makes a number of other significant changes to previous legislation, including the extension of the powers of the Pensions Regulator. We take a look at its key provisions: Personal Accounts. Compensation payable to widow, widower or surviving civil partner. 17. [Social Welfare and Pensions Act 2008.No. 2. In paragraph 18, after sub-paragraph (3) insert—. Social Security Contributions and Benefits Act 1992, All firms must offer pensions, government agrees, Department of Work and Pensions explanatory page, Church of England Assembly (Powers) Act 1919, Measures of the National Assembly for Wales, Acts of the Parliament of Northern Ireland, https://en.wikipedia.org/w/index.php?title=Pensions_Act_2008&oldid=982313835, Creative Commons Attribution-ShareAlike License. 14. The first date in the timeline will usually be the earliest date when the provision came into force. 10. Pensions Act 2008 is up to date with all changes known to be in force on or before 09 December 2020. National Pensions Act, 2008 (Act 766): A scam by the elite! For information about the auto-enrolment … 14. 4. 9.In paragraph 19(8), after “This paragraph is subject to—” insert—... 10.Amendments of Schedule 7 to the Pensions Act 2004, 11.Amendments of Schedule 7 to the Pensions Act 2004. This often affects those on the lower end of the socio-economic scale who may not earn a significant amount. 10. 6. (1) In the case of the first set of regulations... 1.After section 175 of the Pension Schemes Act 1993 (levies... 2.The Pensions Act 2004 is amended as follows. 4. Short title, construction, collective citation and commencement. 16. Access essential accompanying documents and information for this legislation item from this tab. The Schedules you have selected contains over 200 provisions and might take some time to download. Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Weekly pensions digest. 3. The Whole The Pensions Act 2008, which paves the way for Personal Accounts, received Royal Assent on 26 November 2008. (1) This paragraph applies where all of the following conditions... Terminal illness lump sum: application and evidence, 13.An application for a terminal illness lump sum—, Terminal illness lump sum: determination of application. The trustee corporation must make arrangements for the keeping of... (1) This paragraph applies if at any meeting of—. DATE OF GAZETTE NOTIFICATION: 12 th December, 2008. There are changes that may be brought into force at a future date. Schedule 8, Pensions Act 2008; Schedule 10, Pensions Act 2008; Maintained. 20. Form: - NPRA/MTOPS/CEF/2012 NOTE: All information should be written legibly and boldly in BLOCK LETTERS. Over the course of a five and a half year staging process, the Act requires all employers to automatically enrol eligible jobholders into a qualifying pension scheme. (5) For the purposes of this section, regulations may provide for— (a) the calculation of the amounts payableunder subsection (2), (b) the benefits and pensions to which thissection applies, (c) the claims and administrative pro-cedures, and (d) any matter ancillary or incidental to anyof the matters referred to in any of 1 This Act may be cited as the Pension Act. (1) Regulations may prescribe circumstances in which, and conditions subject... 11.Pension compensation payable on discharge of pension compensation credit. Key areas. 19. The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. A second change is the creation of a A second change is the creation of a National Employment Savings Trust, a public pension provider for those who do not have an occupational pensions, which will function as a low-fee pension scheme in competition with existing funds. (1) In Schedule 7 (financial relief in England and Wales... Pension compensation on divorce etc: Scotland. Previous Page Table of Contents Next Page. (1) Section 21 (application of certain provisions of Part 2... Part 3 Amendments of the Civil Partnership Act 2004. 7. 18. The Pension Act 2008 is the Governments way of telling the people of the United Kingdom that we are not saving enough. 18. Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. 17. 8. 5. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run. Are you sure you want to remove this item from you pinned content? There are changes that may be brought into force at a future date. Revised legislation carried on this site may not be fully up to date. 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