Schedule 1 Part U Key Terms
457.Part U of Schedule 1 contains an interpretation rule and an Index.
458.Rule 109(1) contains definitions of terms used throughout the Act. Most have been referred to earlier in these notes where a reference to their meaning is needed. These definitions are primarily for the purposes of the scheme rules set out in Schedule 1 but some of the terms are also used for Schedule 2 (see paragraph 5 of Schedule 2) and Schedule 3 (see paragraph 1(2) of Schedule 3). Note that section 4 of the Act also defines some terms for the purposes of the whole Act.
459.The defined terms list is supplemented by rule 109(2) which ensures that references to amount of scheme pension are read as including enhancements or reductions to basic entitlement caused by other rules such as lump sum, early retirement and ill-health. Rule 109(3) defines the interest rate for the purpose of rules providing for refunds of contributions with interest.
460.Rule 110 contains a list of defined words and expressions used within the Act and details of the rule in Schedule 1 in which they are defined or otherwise explained.