SCHEDULES

Regulations 19 to 22 and 25(2)

SCHEDULE 7Information to be given by schemes that relates to accessing benefits

PART 1Information to be given to persons having an opportunity to select an annuity

1. A statement that the person has an opportunity to select an annuity.

2. A statement that the person has an opportunity to select the provider of the annuity.

3. A statement that different annuities have different features and different rates of payment including annuities that provide—

(a)the same payments every year,

(b)increasing payments every year,

(c)payments only for the person,

(d)payments for the person’s spouse or civil partner,

(e)a guarantee on the early death of the person.

4. Either—

(a)an explanation of the characteristic features of the annuities referred to in paragraph 3, or

(b)a copy of guidance giving that explanation that has been prepared or approved by the Regulator.

5. A statement that the person should consider taking advice about which annuity is most suitable for them.

PART 2Information on accessing benefits for members and survivors

6. The amount of benefit that is payable.

7. If benefit is payable periodically—

(a)any conditions for continuing to make the payments, and

(b)any provisions which would allow the payments to be altered.

8. Any rights and options that persons have on the death of the member or beneficiary of the scheme.

9. Any procedures for exercising the rights and options referred to in paragraph 8.

10. The provisions (or, as the case may be, a statement that there are no provisions) under which the pension payable to the survivor of a member or beneficiary of the scheme may or will be increased and the extent to which such increases are dependent on the exercise of a discretion.