21 Indexation requirements for cash balance benefits
Pensions Act 2011 (2011 c 19) | Legislation

21  Indexation requirements for cash balance benefits

(1)     Section 51 of the Pensions Act 1995 (annual increase in rate of certain pensions) is amended as follows.

(2)     In subsection (1) for “subsection (6)” substitute “subsections (6) and (7)”.

(3)     After subsection (6) insert—

“(7)     This section does not apply to any pension (or part of a pension) under a relevant occupational pension scheme which—

(a)     is a cash balance benefit (see section 51ZB), and

(b)     first comes into payment on or after the day on which section 21 of the Pensions Act 2011 comes into force.

(8)     An occupational pension scheme is a “relevant occupational pension scheme” if—

(a)

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