The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 1993
These Regulations further amend the following sets of Regulations.The Occupational Pension Schemes (Contracting-out) Regulations 1984 are amended so that, where contracted-out employment ceases the fixed rate of revaluation of accrued rights to guaranteed minimum pension will be the “appropriate percentage”. In respect of a period of contracted-out employment which ceases on or after 6th April 1993 the appropriate percentage will be 7% (regulation 2).The Personal Pension Schemes (Disclosure of Information) Regulations 1987 are amended so as to require, as part of the information to be made available to individuals, disclosure of the amount of the minimum contributions attributable to the 1% addition under section 3(1)(aa) of the Social Security Act 1986 (regulation 3).The Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987 are amended so as to extend to Northern Ireland the power of the Occupational Pensions Board to disclose certain information obtained by the Commissioners of Inland Revenue relating to the liability to pay personal pensions (regulation 4).The Personal Pension Schemes (Appropriate Schemes) Regulations 1988 are amended by making provision in respect of the calculation of earnings and the verification of age for the purposes of determining the amount of any payment under section 3(1)(aa) of the Social Security Act 1986 (regulation 5).