32 Effect on contracted-out rights
Welfare Reform and Pensions Act 1999 (1999 c 30) | Legislation

32  Effect on contracted-out rights

(1)     The Pension Schemes Act 1993 shall be amended as follows.

(2)     In section 10 (protected rights), in subsection (1), for “subsections (2) and (3)” there shall be substituted “the following provisions of this section”, and at the end there shall be added—

“(4)     Where, in the case of a scheme which makes such provision as is mentioned in subsection (2) or (3), a member's rights under the scheme become subject to a pension debit, his protected rights shall exclude the appropriate percentage of the rights which were his protected rights immediately before the day on which the pension debit arose.

(5)     For the purposes of subsection (4), the appropriate percentage is—

(a)     if the order or provision on which the pension debit

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