F1Part IVA Requirements relating to pension credit benefit
Annotations:
Amendments (Textual)
Chapter I Pension credit benefit under occupational schemes
101E Discharge of liability where pension credit or alternative benefits secured by insurance policies or annuity contracts.
1
A transaction to which section 19 applies discharges the trustees or managers of a scheme from their liability to provide pension credit benefit or any alternative to pension credit benefit for or in respect of a member of the scheme if and to the extent that—
a
it results in pension credit benefit, or any alternative to pension credit benefit, for or in respect of the member being appropriately secured (within the meaning of that section),
b
the transaction is entered into with the consent of the member or, if the member has died, of the member’s widow or widower F2or surviving civil partner, and
c
such requirements as may be prescribed are met.
2
Regulations may provide that subsection (1)(b) shall not apply in prescribed circumstances.
Pt. 4A inserted (11.11.1999 for specified purposes, 1.12.2000 in so far as not already in force) by Welfare Reform and Pensions Act 1999 (c. 30), ss. 37, 89(5)(a); S.I. 2000/1047, art. 2(2)(d), Sch. Pt. 4