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| 15 December | Parental leave rights of up to 13 weeks in first 5 years (max 4 weeks in any one year). |
| 1 December | New PSO practice in force governing insured loanback arrangements (eg must be 'judicious'). |
| 11 November | Welfare Reform and Pensions Act (WRAPA) receives Royal Assent. Principally covers stakeholder pension schemes (Part I), employer contributions to GPPs and bankruptcy (Part II), and pension sharing on divorce (Parts III & IV). Largely enabling; Regs awaited. |
| 30 September | New edition of IR76 (PP Guidance Notes) published. |
| 30 June | Annuity deferral and income drawdown option available to occupational, AVC and FSAVC schemes. |
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| 31 July | New De Minimis limit rule for funding SSASs. |
| 22 April | New Revenue action upon foreclosure on insured loanback arrangements. |
| 17 March | New provisions to control abuse of tax relief by SSASs announced (PSO Update No 41). New De Minimis limit for funding insured money purchase schemes. |
| 25 February | Two-stage transfer payments from OPSs permitted in exceptional circumstances eg during winding-up. |
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| 5 September | Transfers from (as well as to) SSASs now require prior PSO written consent. |
| 29 August | PSO issues new version of Practice Notes IR12 (1997). |
| 2 May | PSO announces easements to Revenue limits rules to accommodate equal treatment. |
| 6 April | Most provisions of Pensions Act 1995 come into force. Link between SERPS & contracted-out schemes broken. GMP accrual ceases. Opra takes over some of the operational responsibilities of the OPB, which formally ceases to exist [SI 1997/664; PA 95 Sch 5 para 83]. |
| 24 March | New rules on pension increases in payment. |
| 19 March | Transfers from PPs to FSAVCs allowable. |
| 1 January | Redress for 'mis-sold' personal pensions: Regs in force. |
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| 22 August | Revenue requirements for continuous service for controlling directors. |
| 1 June | New maximum funding rules for SSASs. New rules for spreading tax relief on special contributions. |
| 30 May | PSO makes available its internal guidance manual, Pension Schemes Instructions. Unhappily, the promised update service never materialises though. Revenue Practice Notes definition of "dependant" expanded. |
| 6 April | PPs: full commutation for triviality available. Self-assessment tax regime applied to self-administered OPSs. |
| 1 January | PA95 ss. 62 - 66 governing Equal Treatment come into force, overriding scheme rules. New Information Powers Regs in force. |
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| 1 November | All transfers to SSASs require prior written consent from PSO. |
| 2 October | First provisions of 1995 Pensions Act come into force. |
| 23 August | SSAS annuity deferral option extended to widows/widowers/dependants. PSO issues Update No 8 covering annuity deferral and income withdrawal under PPSs (enabled by FA95 s.58 & Sch 11 from 1.5.95). |
| 19 July | New State Pension Age for women to be 65 from 6.4.2020, with change phased in over preceding 10 years. |
| 31 May | New UK equal treatment law prevents sex discrimination on access to occupational schemes. |
| 16 February | SSASs: further relaxation permits annuity purchase to be phased in. |
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| 2 November | 40% tax charge on SSASs which lose Revenue approval. |
| 25 October | SIB announces guidelines for Personal Pensions Transfers & Opt-Outs Review. |
| 16 October | All employment rights (except normal pay) must be maintained during statutory maternity leave. |
| 29 July | Transfers in of protected rights for deferred COMPS members permissible. |
| 23 June | Benefits during paid maternity absence must continue to accrue based on notional normal salary. |
| February | Separation of payment of FSAVC benefits from main scheme benefits. |
| 7 February | Pension Schemes Act 1993 came into force, consolidating and updating social security legislation on pensions. |
| 4 February | SSASs: annuity purchase can be delayed up to age 75 while pension paid from scheme. |
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