PART 3Scheme membership

CHAPTER 4Pension accounts

Establishment of pension accounts24

1

The scheme manager must establish and maintain one or more of the following pension accounts for each member of this scheme in accordance with Schedule 7—

a

active member’s account:

b

deferred member’s account;

c

pensioner member’s account;

d

additional pension account;

e

pension credit member’s account.

2

A pension account—

a

may be kept in any form the scheme manager considers appropriate; and

b

must specify the details required by these Regulations.

3

References in these Regulations to any amount specified in a pension account are references to the amount that is required by these Regulations to be so specified and not, if different, the amount actually so specified.