SCHEDULES

SCHEDULE 4Rights to transfer benefits

PART 1Great Britain amendments

Pension Schemes Act 1993 (c. 48)

I118

1

Section 101J (time for compliance with transfer notice) is amended as follows.

2

In subsection (1), for paragraphs (a) and (b) substitute—

a

in the case of an application that relates to benefits other than money purchase benefits, within 6 months beginning with the valuation date, and

b

in the case of an application that relates to money purchase benefits, within 6 months of the date on which the notice is given.

3

After subsection (2) insert—

2A

Regulations may extend the period for complying with the notice in prescribed circumstances.

4

For subsection (7) substitute—

7

In subsection (1)(a), “valuation date” means the date by reference to which the amount shown in the relevant statement under section 101H is determined.