Commentary on Sections Part 3 – General Changes to Legislation about Pension Schemes Section 47: Other amendments to do with Parts 1 and 2Schedule 2: Other amendments to do with Parts 1 and 2
Schedule 2 makes consequential amendments to existing pensions legislation to take account of the categories of scheme defined in Part 1 and collective benefits defined in Part 2.  The Schedule also makes some resulting changes to replace references to money purchase schemes to limit the number of ways of categorising schemes in legislation.
Where there are references in existing legislation to a “money purchase scheme”, these are generally replaced by references to “a scheme under which all the benefits that may be provided are money purchase benefits”.  This does not change the effect of the legislation – rather, they are technical changes to limit the number of categories that can be attached to pension schemes.
In other cases, the new categories are themselves substituted for existing definitions.