- Latest available (Revised)
- Original (As made)
Occupational Pension Schemes (Contracting-out) Regulations 1996
You are here:
- 1996 No. 1172
- PART III
- Regulation 19
What Version
Status:
This is the original version (as it was originally made). UK Statutory Instruments are not carried in their revised form on this site.
Lump sum benefits and salary-related contracted-out schemes.
19. A salary-related contracted-out scheme may not provide for the payment of a lump sum instead of a pension except in accordance with regulation 20 (trivial commutation of section 9(2B) rights) and, as the case may be, regulation 60 (trivial commutation of guaranteed minimum pensions) or—
(a)in the case of a scheme which is exempt approved within the meaning of section 592(1) of the Taxes Act or a scheme which has applied for such approval which has not yet been determined, to the extent permitted under the rules of that scheme in accordance with that approval, or
(b)in the case of a relevant statutory scheme within the meaning of section 611A of the Taxes Act(1), to the extent permitted under the regulations or rules governing the scheme as a relevant statutory scheme.
(1)
Section 611A was inserted by section 75 of the Finance Act 1989 and Part I, paragraphs 1, 15 and 18(1) of Schedule 6 to that Act.
Options/Help
Print Options
Print The Whole Instrument
Print The Whole Part
Print This Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once