The Pension Sharing (Pension Credit Benefit) Regulations 2000

1. Introductory Text

2. PART I GENERAL

   1. 1. Citation, commencement and interpretation

   2. 2. Salary related schemes

3. PART II PENSION CREDIT BENEFIT UNDER OCCUPATIONAL PENSION SCHEMES

   1. 3. Pension credit benefit in lump sum form

   2. 4. Commutation of part of pension credit benefit

   3. 5. Means of assuring pension credit benefit

   4. 6. Alternatives to pension credit benefit

   5. 7. Early retirement or deferred retirement

   6. 8. Bought out benefits

   7. 9. Money purchase benefits

   8. 10. Transfer of a person’s pension credit rights without consent

   9. 11. Value of alternatives to pension credit benefit

   10. 12. Discharge of liability where pension credit benefit or alternative benefits are secured by insurance policies or annuity contracts

   11. 13. Conditions on which pension credit benefit secured by insurance policies and annuity contracts may be commuted

   12. 14. Other requirements applying to insurance policies and annuity contracts

   13. 15. Further conditions on which liability may be discharged

4. PART III TRANSFER VALUES

   1. 16. Transfer payments in respect of safeguarded rights—general

   2. 17. Transfer payments to money purchase contracted-out schemes and appropriate schemes

   3. 18. Transfer payments to salary related contracted-out schemes

   4. 19. Transfer payments to overseas schemes or overseas arrangements

   5. 20. Requirements to be met by annuities

   6. 21. Requirements of other pension arrangements

   7. 22. Requirements to be met by an eligible scheme

   8. 23. Written statement of the amount of the cash equivalent of the member’s pension credit rights

   9. 24. Manner of calculation and verification of cash equivalents

   10. 25. Time period for notification to the Regulatory Authority of failure by the trustees or managers of an occupational pension scheme to comply with a transfer notice

   11. 26. Extension of time limits for payment of cash equivalents

   12. 27. Increases and reductions of cash equivalents before a statement of entitlement has been sent to the eligible member

   13. 28. Increases and reductions of cash equivalents once the written statement has been sent to the eligible member

   14. 29. Increases of cash equivalents on late payment

   15. 30. Personal pension schemes: increases and reductions of cash equivalents

   16. 31. Civil Penalties

5. PART IV INDEXATION

   1. 32. Increase of relevant pension

   2. 33. Annual increase in rate of pension: qualifying occupational and personal pension schemes

   3. 34. Effect of increase above the statutory requirement: qualifying occupational pension schemes

   4. 35. Definition of eligible pension credit rights

6. Signature

7. 1. SCHEDULE

      Actuary’s certificate

8. Explanatory Note