Pension Schemes (Reduction in Pension Rates) (Amendment) Regulations 2009 come into force
Implementation date: 1 July 2009
The Regulations amend the Pension Schemes (Reduction in Pension Rates) Regulations 2006 to prescribe further circumstances in which a pension may be reduced without infringing the condition in para.2(3) of sch.28 to the Finance Act 2004. If that condition is breached, the pension will not qualify as a “scheme pension” and this will give rise to certain tax charges. The Order can be viewed on the OPSI website.