Section 9(2B) rights | Practical Law

Section 9(2B) rights | Practical Law

Section 9(2B) rights

Section 9(2B) rights

Practical Law UK Glossary 0-385-5222 (Approx. 4 pages)

Glossary

Section 9(2B) rights

Rights to pension benefits in a former contracted-out salary-related scheme (COSR) which satisfied the so-called reference scheme test until its abolition on 6 April 2016. Referring to section 9(2B) of the Pension Schemes Act 1993, section 9(2B) rights were the successor provisions to guaranteed minimum pensions, which no longer accrued after 5 April 1997. Contracting-out on the salary-related basis was abolished on 6 April 2016, although accrued section 9(2B) rights remain subject to certain protections.