- Latest available (Revised)
- Original (As made)
There are currently no known outstanding effects for the The Occupational Pension Schemes (Transfer Values) Regulations 1996, PART VI.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
14.—(1) This regulation applies where—
(a)the member disputes the amount of the cash equivalent shown in the statement of entitlement within three months beginning with the guarantee date; or
(b)the member’s cash equivalent shown in the statement of entitlement has been reduced or increased under regulation 9, including where the member disputes the basis or amount of the increase or reduction within three months beginning with the date that the member is informed in writing that the cash equivalent has been reduced or increased.
(2) Where this regulation applies—
(a)if the member has made an application to take the cash equivalent under section 95(1) of the 1993 Act, that application lapses;
(b)the time for making a fresh application to take the cash equivalent under section 95(1) is extended so that the time is three months beginning with the date on which the member is informed in writing of—
(i)the reduced or increased cash equivalent; or, if later,
(ii)where the cash equivalent shown in the statement of entitlement has been disputed, the finally determined cash equivalent following the dispute, even where the cash equivalent has not changed; and
(c)the time specified in section 99(2)(a) (trustees’ duties after exercise of option) is extended so that the time is six months beginning with the date on which the member is informed in writing of—
(i)the reduced or increased cash equivalent; or, if later,
(ii)where the cash equivalent shown in the statement of entitlement has been disputed, the finally determined cash equivalent following the dispute, even where the cash equivalent has not changed.]
Textual Amendments
F1Reg. 14 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(2)
15. In their application to a member of a scheme whose normal pension age is earlier than 60, section [F293(4)(b)] of the 1993 Act (scope of [F3Chapter 1 of Part 4ZA]) shall have effect as if the words “at least one year" were omitted and [F4section 95(1A)(b)] of that Act shall have effect as if the references in them to normal pension age were references to the age of 60.
Textual Amendments
F2Word in reg. 15 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(3)(a)
F3Words in reg. 15 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(3)(b)
F4Words in reg. 15 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(3)(c)
16.—(1) This regulation applies where—
(a)a member has acquired a right under section 94 of the 1993 Act to a cash equivalent but has not exercised the option conferred by section 95 of that Act; and
(b)the member’s accrued rights have been transferred to another scheme without that member’s consent.
(2) Where this regulation applies, [F5Chapter 1 of Part 4ZA] of the 1993 Act shall have effect as if the member’s right to a cash equivalent of the benefits in respect of which a transfer or transfer payment has been made existed in relation to the receiving scheme instead of the transferring scheme.
Textual Amendments
F5Words in reg. 16(2) substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(4)
17.—(1) This regulation applies to schemes with any overseas element, as described in section 165(6) of the 1993 Act (requirements as to preservation of benefit under occupational pension schemes).
(2) Where this regulation applies, [F6Chapter 1 of Part 4ZA] of the 1993 Act applies to schemes with any overseas element only to the extent that the requirements specified in or under sections 71 to 82 of the 1993 Act (the preservation requirements) apply to the scheme.
Textual Amendments
F6Words in reg. 17(2) substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(5)
F7 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F7Reg. 18 omitted (6.4.2015) by virtue of The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(6)
F8 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Reg. 19 omitted (6.4.2015) by virtue of The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(6)
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: