SCHEDULES

SCHEDULE 17Automatic transfer of pension benefits etc

Part 1Automatic transfer of pension benefits

Cash equivalents: calculation and verification

8

1

The regulations may provide for the manner in which cash equivalents are to be calculated and verified.

2

The regulations may in particular—

a

provide that a cash equivalent is to be increased or reduced in prescribed circumstances;

b

make provision about the time by reference to which a cash equivalent is to be calculated for the purposes of a provision of the regulations.

3

Regulations made because of sub-paragraph (2)(a) may provide for a cash equivalent to be reduced to nil.