51 Annual increase in rate of pension

Indexation

51  Annual increase in rate of pension

(1)     Subject to [subsections (6) and (7)] this section applies to a pension under an occupational pension scheme if—

(a)     the scheme—

[(i)     is a registered pension scheme under section 153 of the Finance Act 2004, and]

(ii)     is not a public service pension scheme, and

[(iii)     in the case where the pension becomes a pension in payment on or after the commencement day, is not a money purchase scheme, and]

[(b)     the whole, or any part of, the pension is attributable—

(i)     to pensionable service on or after [6 April 1997], or

(ii)     in the case of money purchase benefits where the pension is in payment before the commencement day, to payments in respect of employment carried on on or after [6 April 1997], and

(c)     apart from this section—

(i)     the annual rate of the pension, or

(ii)     if only part of the pension is attributable as described in paragraph (b), so much of the annual rate as is attributable to that part,

would not be increased each year by at least the appropriate percentage of that rate].

[(1A)     Where a pension scheme is divided into

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