Pension Schemes Act 1993

Changes over time for: Section 99

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Pension Schemes Act 1993, Section 99 is up to date with all changes known to be in force on or before 27 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

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Changes and effects yet to be applied to Section 99:

s. 99(2)(b) modified by S.I. 2013/2734, reg. 18D(2) (as inserted) by S.I. 2022/30 reg. 2(6)

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

s. 46(1A) (1B) inserted by 2008 c. 30 s. 103(2) (This amendment not applied to legislation.gov.uk. S. 103(2)(4)(5) repealed (1.10.2014) without ever being in force by 2014 c. 19, Sch. 12 para. 96(a); S.I. 2014/2377, art. 2(1)(a)(ii)(3)(c))
s. 46(1A) words substituted by 2011 c. 19 Sch. 3 para. 10
s. 71(1)(aa) substituted by 2015 c. 8 s. 39(2)(a)
s. 71(1A) inserted by 2015 c. 8 s. 39(2)(b)
s. 71(7)-(10) substituted for s. 71(7)-(11) by 2015 c. 8 s. 39(4)
s. 82A inserted by 2015 c. 8 Sch. 1 para. 2
s. 83(1A)-(1AC) substituted for s. 83(1A) by 2015 c. 8 Sch. 1 para. 3
s. 84-84F substituted for s. 84 by 2015 c. 8 Sch. 1 para. 4
s. 85A inserted by 2015 c. 8 Sch. 1 para. 5
s. 86A 86B inserted by 2015 c. 8 Sch. 1 para. 6
s. 94(2A)(a)(viii) inserted by 2014 c. 19 Sch. 17 para. 20(2)(a)
s. 94(2A)(b)(vi) inserted by 2014 c. 19 Sch. 17 para. 20(2)(b)
s. 101AI(8)(a)(viii) inserted by 2014 c. 19 Sch. 17 para. 20(3)(a)
s. 101AI(8)(b)(vi) inserted by 2014 c. 19 Sch. 17 para. 20(3)(b)
s. 113(4)(4A) substituted for s. 113(4) by 2015 c. 8 s. 38(5)
s. 113(5) words substituted by 2015 c. 8 s. 38(6)
s. 113(10) words substituted by 2015 c. 8 Sch. 2 para. 3
s. 145(1A)-(1C) inserted by 2004 c. 35 Sch. 12 para. 23
s. 146(6A) inserted by 2004 c. 35 Sch. 12 para. 24(b)
s. 175A inserted by 2008 c. 30 Sch. 10 para. 1
s. 185(2)(ca) inserted by 2018 c. 10 s. 19(5)
s. 186(3)(ba) inserted by 2015 c. 8 Sch. 1 para. 7
s. 186(3)(za) inserted by 2008 c. 30 s. 103(5) (This amendment not applied to legislation.gov.uk. S. 103(2)(4)(5) repealed (1.10.2014) without ever being in force by 2014 c. 19, Sch. 12 para. 96(a); S.I. 2014/2377, art. 2(1)(a)(ii)(3)(c))
Sch. 3 para. A1 and cross-heading inserted by 2015 c. 8 Sch. 1 para. 8

99 Trustees’ duties after exercise of option.E+W+S

(1)Where—

(a)a member has exercised the option conferred by section 95; and

(b)the trustees or managers of the scheme have done what is needed to carry out what the member requires,

the trustees or managers shall be discharged from any obligation to provide benefits to which the cash equivalent related except, in such cases as are mentioned in section 96(2), to the extent that an obligation to provide such guaranteed minimum pensions F1... continues to subsist.

[F2(2)Subject to the following provisions of this section, if the trustees or managers of a scheme receive an application under section 95 they must do what is needed to carry out what the member requires—

(a)in the case of an application that relates to benefits other than money purchase benefits, within 6 months beginning with the guarantee date shown in the relevant statement of entitlement, F3...

(b)in the case of an application that relates to money purchase benefits [F4other than collective money purchase benefits], within 6 months beginning with the date of the application [F5, and

(c)in the case of an application which relates to money purchase benefits that are collective money purchase benefits, within 6 months beginning with the date of the application or such longer period beginning with that date as may be prescribed].]

[F6(2ZA)Subsection (2) does not apply if the trustees or managers have been unable to carry out what the member requires because a condition prescribed by regulations under section 95(6ZA) has not been satisfied.]

[F7(2ZB)Subsection (2) does not apply if—

(a)the member was required by section 96(4) to give a transfer notice under section 101F(1) in addition to making an application, and

(b)the trustees or managers have been unable to carry out what the member required in the transfer notice under section 101F(1) because a condition prescribed by regulations under section 101F(5A) has not been satisfied.]

[F8(2A)Subsection (2) does not apply if—

(a)the trustees or managers have been unable to carry out the check required by section 48 of the Pension Schemes Act 2015 by reason of factors outside their control, or

(b)the trustees or managers have carried out the check required by section 48 of the Pension Schemes Act 2015 but the check did not confirm that the member had received appropriate independent advice.]

(3)If—

(a)disciplinary proceedings or proceedings before a court have been begun against a member of an occupational pension scheme F9... ; and

(b)it appears to the trustees or managers of the scheme that the proceedings may lead to the whole or part of the pension or benefit in lieu of a pension payable to the member or [F10his or her surviving spouse or civil partner] being forfeited; and

(c)the date before which they would (apart from this subsection) be obliged under subsection (2) to carry out what the member requires is earlier than the end of the period of 3 months after the conclusion of the disciplinary or court proceedings (including any proceedings on appeal),

then, subject to the following provisions of this section, they must instead do so before the end of that period of 3 months.

F11(3A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F12(4)The Regulatory Authority may, in prescribed circumstances, [F13by direction] grant an extension of the period within which the trustees or managers of the scheme are obliged to do what is needed to carry out what a member of the scheme requires.]

[F12(4A)Regulations may make provision [F14requiring applications for extensions under subsection (4) to meet prescribed requirements].]

[F15(4B)Regulations may extend the period for compliance under subsection (2) or (3) in prescribed circumstances.]

F16(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F17(7)Where the trustees or managers of an occupational pension scheme have not done what is needed to carry out what a member of the scheme requires within six months of the date mentioned in paragraph (a) or (b) of subsection (2)—

(a)they must, except in prescribed cases, notify the Regulatory Authority of that fact within the prescribed period, and

(b)section 10 of the Pensions Act 1995 (power of the Regulatory Authority to impose civil penalties) shall apply to any trustee or manager who has failed to take all such steps as are reasonable to ensure that it was so done.

(8)Regulations may provide that in prescribed circumstances subsection (7) shall not apply in relation to an occupational pension scheme.]

Textual Amendments

F1Words in s. 99(1) omitted (6.4.2012) by virtue of The Pensions Act 2008 (Abolition of Protected Rights) (Consequential Amendments) (No.2) Order 2011 (S.I. 2011/1730), arts. 1(2)(b), 5(15)

F2S. 99(2) substituted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 13(2) (with s. 87)

F3Word in s. 99(2)(a) omitted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by virtue of Pension Schemes Act 2021 (c. 1), ss. 25(4)(a), 131(1)(3)(a); S.I. 2022/721, regs. 1(2), 3(a)

F4Words in s. 99(2)(b) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 25(4)(b), 131(1)(3)(a); S.I. 2022/721, regs. 1(2), 3(a)

F5S. 99(2)(c) and preceding word inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 25(4)(c), 131(1)(3)(a); S.I. 2022/721, regs. 1(2), 3(a)

F6S. 99(2ZA) inserted (30.11.2021) by Pension Schemes Act 2021 (c. 1), ss. 125(4), 131(1); S.I. 2021/1236, reg. 2

F7S. 99(2ZB) inserted (30.11.2021) by Pension Schemes Act 2021 (c. 1), ss. 125(5), 131(1); S.I. 2021/1236, reg. 2

F8S. 99(2A) inserted (6.4.2015) by Pension Schemes Act 2015 (c. 8), ss. 50(2), 89(3)(b) (with s. 87)

F9Words in s. 99(3)(a) omitted (6.4.2015) by virtue of Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 13(3) (with s. 87)

F10Words in s. 99(3)(b) substituted (E.W.) (13.3.2014) by Marriage (Same Sex Couples) Act 2013 (c. 30), s. 21(3), Sch. 7 para. 32; S.I. 2014/93, art. 3(k)(iii); same words substituted (S.) (16.12.2014) by The Marriage and Civil Partnership (Scotland) Act 2014 and Civil Partnership Act 2004 (Consequential Provisions and Modifications) Order 2014 (S.I. 2014/3229), art. 1(2), Sch. 5 para. 11(8)