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The National Health Service Pension Scheme (Additional Voluntary Contributions) Regulations 2000
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Changes over time for: Paragraph 1
Version Superseded: 01/04/2015
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- 01/05/2001- Amendment
- 01/12/2001- Amendment
- 01/04/2008- Amendment
- 01/04/2008
Point in time - 01/04/2015- Amendment
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[F1Discharge of liability in respect of a pension creditE+W
1.—(1) Where the Secretary of State discharges his liability in respect of a pension credit in accordance with sub-paragraph (2) of paragraph 1 of Schedule 5 to the 1999 Act (pension credits: mode of discharge: funded pension schemes—internal transfers) the appropriate rights shall be invested under paragraph 2 below to provide for the purchase from an [F2insurer] of an annuity which complies with the requirements of sub-paragraph (5) below.
(2) Where sub-paragraph (1) applies, the person entitled to the pension credit may elect, by giving written notice to the Secretary of State, the authorised fund or funds in which the appropriate rights are to be invested.
(3) The Secretary of State shall notify in writing the person who has made an election under sub-paragraph (2) of the Secretary of State’s acceptance of that election.
(4) Where an election has been made under sub-paragraph (2) it shall not be varied or cancelled after liability in respect of the pension credit has been discharged by the Secretary of State.
(5) An annuity complies with the requirements of this sub-paragraph if—
(a)it provides a pension which commences not earlier than normal benefit age and is payable to the pension credit member for life;
(b)any dependant’s pension which is payable under it is payable only on the death of the pension credit member after he has reached normal benefit age and is payable to the dependant for life, except that in the case of a dependant who is a child to whom Part H [F3of the 1995 Regulations (child allowance) or regulation 2.E.9 or 3.E.9 of the 2008 Regulations (meaning of dependent child)] would apply if the pension credit member were a member of the NHS Pension Scheme, it shall cease to be payable when that person ceases to be a dependent child within the meaning of those Regulations; and
(c)it is not capable in whole or in part of surrender, assignment or commutation.]
Textual Amendments
F1Sch. 2 inserted (1.5.2001) by The National Health Service (Pension Scheme and Additional Voluntary Contributions) (Pension Sharing) Amendment Regulations 2001 (S.I. 2001/1428), reg. 1, Sch. 2 para. 6
F2Word in Sch. 2 para. 1(1) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 589(4)
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