The Pensions Act 2011 amends the timetable for increasing the state pension age to 66. Under the Pensions Act (PA) 2007, the increase to 66 was due to take effect between 2024 and 2026. This Act will bring forward the increase so that state pension age for both men and women will begin rising from 65 in December 2018 to reach 66 by October 2020. As a result of bringing forward the increase to 66, the timetable contained in the PA 1995 for equalising women's state pension age with men's at 65 by April 2020 will be accelerated, so that women's state pension age reaches 65 by November 2018. The Act introduces amendments to primary legislation to amend the regulatory framework for the duty on employers to automatically enrol eligible workers into a qualifying pension scheme and to contribute to the scheme. These measures implement recommendations from the Making Automatic Enrolment Work review (Cm. 7954, ISBN 9780101795425). The Act amends existing legislation that provides for revaluation or indexation of occupational pensions and payments by the Pension Protection Fund. This Act also contains a number of measures to correct particular references in the existing body of pensions-related legislation and other small and technical measures to both state and private pension legislation. The Act is in six parts. The amendments made by the Act generally extend to England and Wales and to Scotland.Part 4 a Money purchase benefits scheme in relation to which those amendments would otherwise have applied on the coming into ... 29 apply on the coming into force of that section to obtain an actuarial valuation of a description specified in the regulations. (3) ... (2) In section 307 of the Pensions Act 2004 ( modification of Act) in subsection (2) after paragraph (b) inserta a(ba) Part 3 ( scheme funding), a.
|Title||:||Pensions Act 2011|
|Publisher||:||The Stationery Office - 2011-11-08|