The Occupational Pension Schemes (Contracting-out and Modification of Schemes) (Amendment) Regulations 2012 – public consultation
Start date: 15 August 2011
Closing date: 6 November 2011
This consultation sought views on proposed changes to contracting-out regulation:
- to increase the amount of the compound interest used in the fixed rate revaluation of Guaranteed Minimum Pension for early leavers from 6 April 2012 to 4.75 per cent; and
- to introduce a regulation to allow trustees of formerly contracted-out defined contribution occupational pension schemes to change their scheme rules to take into account the abolition of “protected rights” after 6 April 2012.
The consultation also advised of a technical drafting correction to the Occupational Pension Schemes (Contracting-out) Amendment Regulations 2011 (SI 2011/ 1294), which comes into force on 1 October 2011. The correction provides clarification for actuaries certifying that contracted-out salary-related occupational pension schemes meet the contracting out conditions.
Government response
The Government published its response to this consultation on 29 February 2012.
The consultation
More information
Our How we consult page has more information about the code of practice we follow and explains how we deal with responses.
