Ginseng
17th Mar 2006, 20:01
For those present and future members of AFPS05 who like to keep abreast of changes to their pension scheme, and are not scared off by the legalese:
http://www.opsi.gov.uk/si/si2006/20060717.htm
Statutory Istrument 2006 No 717 comes into force on 6 Apr 06 and amends the AFPS05 and its associated Early Departure Payment Scheme and Redundancy Scheme Orders.
Some of the amendments remove those transitional year regulations which are no longer required after 6 Apr. Most reflect changes that are required by the coming into force of Part 4 of the Finance Act 2004 to replace the tax regime for pensions previously following from Part 14 of the Income and Corporation Taxes Act 1988. There is an amendment to the EDP order Article 16, such that the requirements for the payment of lump sums where ill-health occurs match those of the rules of the main Scheme. Article 12 of this order amends rule B.1(a)(ii) of the Scheme, relating to eligibility for membership (and similar provisions in the EDP and Redundancy Orders) to clarify which members with eligibility for other pension arrangements are excluded from the Scheme and the other Schemes established by those Orders.
Regards
Ginseng
http://www.opsi.gov.uk/si/si2006/20060717.htm
Statutory Istrument 2006 No 717 comes into force on 6 Apr 06 and amends the AFPS05 and its associated Early Departure Payment Scheme and Redundancy Scheme Orders.
Some of the amendments remove those transitional year regulations which are no longer required after 6 Apr. Most reflect changes that are required by the coming into force of Part 4 of the Finance Act 2004 to replace the tax regime for pensions previously following from Part 14 of the Income and Corporation Taxes Act 1988. There is an amendment to the EDP order Article 16, such that the requirements for the payment of lump sums where ill-health occurs match those of the rules of the main Scheme. Article 12 of this order amends rule B.1(a)(ii) of the Scheme, relating to eligibility for membership (and similar provisions in the EDP and Redundancy Orders) to clarify which members with eligibility for other pension arrangements are excluded from the Scheme and the other Schemes established by those Orders.
Regards
Ginseng