SCHEDULES
SCHEDULE 7Information to be given by schemes that relates to accessing benefits F1and to benefit adjustments
PART 1Information to be given to persons having an opportunity to select an annuity
1
A statement that the person has an opportunity to select an annuity.
2
A statement that the person has an opportunity to select the provider of the annuity.
3
A statement that different annuities have different features and different rates of payment including annuities that provide—
a
the same payments every year,
b
increasing payments every year,
c
payments only for the person,
d
payments for the person's spouse or civil partner,
e
a guarantee on the early death of the person.
4
Either—
a
an explanation of the characteristic features of the annuities referred to in paragraph 3, or
b
a copy of guidance giving that explanation that has been prepared or approved by the Regulator.
5
A statement that the person should consider taking advice about which annuity is most suitable for them.
Words in Sch. 7 heading inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022 (S.I. 2022/337), regs. 1(3), 13(17)(a)