Law

The National Employment Savings Trust (Amendment) Order 2026

United Kingdom · regulation

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In force since 2026-04-29, as the publisher states.

Copy read on 2026-11-10. The page it was read from

Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.

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Contents: 3 provisions
  1. Title and introductory text
  2. 1 Citation, commencement and extent
  3. 2 Amendment of the National Employment Savings Trust Order 2010

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3 provisions

Title and introductory text

2026 No. 449 PENSIONS The National Employment Savings Trust (Amendment) Order 2026 Made 21st April 2026 Coming into force 29th April 2026 The Secretary of State makes this Order in exercise of the powers conferred by sections 67(1) and (8) and 144(2) and (4) of the Pensions Act 2008. In accordance with section 71(2) of that Act, the Secretary of State has obtained the consent of the trustees before making this Order, and in accordance with section 71(4) of that Act, the trustees consulted the members’ panel and the employers’ panel before giving consent to the making of this Order. In accordance with section 143(4) and 143(5)(c) of that Act, a draft of this Order was laid before Parliament and approved by resolution of each House of Parliament.

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1 Citation, commencement and extent

(1) This Order may be cited as the National Employment Savings Trust (Amendment) Order 2026 and comes into force on 29th April 2026. (2) This Order extends to England and Wales, Scotland and Northern Ireland.

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2 Amendment of the National Employment Savings Trust Order 2010

(1) The National Employment Savings Trust Order 2010 is amended as follows. (2) In article 32 (payment of benefits by the Trustee)— (a) in paragraph (1) after the word “provide” insert “one or more of”; (b) for paragraph (2)(a) substitute— (a) where a member is alive— (i) the payment to the member of a lump sum; (ii) the payment to the member of a scheme pension; (iii) the purchase of a lifetime annuity policy in the name of the member; (iv) the payment to the member of a drawdown pension; ; (c) in paragraph (2)(b)— (i) omit the “or” after paragraph (iii); and (ii) after paragraph (iv), insert ; (v) the payment of a dependants’ scheme pension; (vi) the payment of a drawdown pension to a dependant of the member, a nominee of the member, or a successor of the member. ; (d) in paragraph (4)— (i) move the definition of “dependants’ annuity” so that it appears after the definition of “charity lump sum death benefit”; (ii) at the appropriate places insert— “dependant of the member” has the same meaning as in paragraph 15 of Schedule 28 to the Finance Act 2004 ; “dependants’ scheme pension” has the same meaning as in paragraph 16 of Schedule 28 to the Finance Act 2004 ; “drawdown pension” has the same meaning as in paragraph 4 of Schedule 28 to the Finance Act 2004 ; “nominee of the member” has the same meaning as in paragraph 27A of Schedule 28 to the Finance Act 2004 ; “scheme pension” has the same meaning as in paragraph 2 of Schedule 28 to the Finance Act 2004 ; “successor of the member” has the same meaning as in paragraph 27F of Schedule 28 to the Finance Act 2004 .

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