The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015

Amendment of Part 1 of the 1996 Regulations

2.  In regulation 1(2) (interpretation) of the 1996 Regulations—

(1) In the appropriate alphabetical place, insert—

““categories of benefits” refers to the categories listed in paragraphs (a) to (c) of section 93(6) of the 1993 Act;”.

(2) In the definition of “cash balance benefit”(1), for “by regulation 2 of the Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014” substitute “to that expression in section 75 of the Pension Schemes Act 2015”.

(3) In the definition of “cash equivalent”, for “or guaranteed cash equivalent mentioned in section 93A(1) or 94(1)” substitute “mentioned in section 94(1) or (2)”.

(4) In the definition of “guarantee date”, for “section 93A(2)” substitute “section 93A(4)”.

(5) Omit the definition of “relevant date”.

(6) In the definition of “statement of entitlement”(2), for “section 93A(1) of the 1993 Act (salary related schemes: right to statement of entitlement)” substitute “section 93A(3) of the 1993 Act (right to statement of entitlement: benefits other than money purchase)”.

(1)

The definition of “cash balance benefit” was inserted by S.I. 2014/1711, regulation 32(1) and (2)(a).

(2)

The definition of “statement of entitlement” was inserted by S.I. 2008/1050, regulation 2(2)(a).