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19. The following information about benefits payable under the scheme (referred to in this paragraph as “benefits”)—N.I.
(a)what the benefits are;
(b)how benefits are calculated;
(c)how the scheme defines pensionable earnings, if appropriate;
(d)how and when benefits in payment are increased, if appropriate;
(e)the rate at which rights to benefits accrue, if appropriate;
(f)the conditions on which benefits are payable;
(g)when benefits (including survivor’s benefits) are payable.
Commencement Information
I1Sch. 2 para. 19 in operation at 6.4.2014, see reg. 1(1)
20. A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with [F1Chapters 1 and 2 of Part 4ZA] of the 1993 Act.N.I.
Textual Amendments
F1Words in Sch. 2 para. 20 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 10(7)
Commencement Information
I2Sch. 2 para. 20 in operation at 6.4.2014, see reg. 1(1)
21. A summary of what can be done with a member’s accrued rights where the member leaves pensionable service before normal pension age, including whether the accrued rights can be transferred out of the scheme, converted into an annuity[F2, designated as available for the payment of drawdown pension] and commuted to a lump sum.N.I.
Textual Amendments
F2Words in Sch. 2 para. 21 inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 10(2)
Commencement Information
I3Sch. 2 para. 21 in operation at 6.4.2014, see reg. 1(1)
22. A statement relating to the matters mentioned in paragraph 21—N.I.
(a)as to whether a charge may be made, and
(b)that further information is available.
Commencement Information
I4Sch. 2 para. 22 in operation at 6.4.2014, see reg. 1(1)
[F322A. Where the member has flexible benefits, a statement explaining the circumstances in which the member may transfer accrued rights to flexible benefits out of the scheme.N.I.
Textual Amendments
22B. [F4Subject to paragraph 22C] Where the member has safeguarded benefits (which has the meaning given in section 51(8) of the Pension Schemes Act 2015), a statement that the member may be required to take independent advice before the member may—
(a)convert any of the safeguarded benefits into different benefits that are flexible benefits under the scheme;
(b)transfer safeguarded benefits to another pension scheme with a view to acquiring a right or entitlement to flexible benefits, and
(c)withdraw an uncrystallised funds pension lump sum (which has the meaning given in paragraph 4A of Schedule 29 to the Finance Act 2004).]
Textual Amendments
[F522C. Paragraph 22B does not apply to a member of an occupational pension scheme that is an unfunded public service defined benefits scheme, unless it is a scheme in relation to which section 91(2A)(a)(i) of the 1993 Act has been disapplied, pursuant to section 91(2B) of the 1993 Act.]N.I.
Textual Amendments
23.—(1) The scheme’s internal dispute resolution arrangements.N.I.
(2) The postal address or electronic address and job title of the person who should be contacted to use those arrangements.
(3) This paragraph does not apply to a scheme within Article 50(8) of the 1995 Order.
Commencement Information
I5Sch. 2 para. 23 in operation at 6.4.2014, see reg. 1(1)
24. A statement that—N.I.
(a)the [F6Money and Pensions Service] is available at any time to assist members and beneficiaries with—
(i)pensions questions, and
(ii)issues they have been unable to resolve with the trustees or managers of the scheme;
(b)the Pensions Ombudsman may investigate and determine certain complaints or disputes about pensions that are referred to the Pensions Ombudsman in accordance with the 1993 Act, and
(c)the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.
Textual Amendments
F6Words in Sch. 2 para. 24(a) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 23(b)
Commencement Information
I6Sch. 2 para. 24 in operation at 6.4.2014, see reg. 1(1)
25. The postal address and electronic address at which each of the bodies referred to in paragraph 24 may be contacted.N.I.
Commencement Information
I7Sch. 2 para. 25 in operation at 6.4.2014, see reg. 1(1)
[F726. A statement setting out—N.I.
(a)which benefits—
(i)are provided by means of the setting aside of resources (other than assets at the disposal of the employer of any person who is employed in relevant employment) for a benefit, before the benefit becomes payable, that are related to the intended rate or amount of benefit, and
(ii)are not provided by that means, and
(b)the manner in which any benefits mentioned in sub-paragraph (a)(i) are secured.]
Textual Amendments
27. A statement that most of the provisions of the 1995 Order do not apply to the scheme.N.I.
Commencement Information
I8Sch. 2 para. 27 in operation at 6.4.2014, see reg. 1(1)
28. Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid, the performance of investments and the cost of converting the benefit into an annuity.N.I.
Commencement Information
I9Sch. 2 para. 28 in operation at 6.4.2014, see reg. 1(1)
[F828A. Where the member has rights to cash balance benefits, a statement that the value of the pension will depend on several factors including the amount of contributions paid, any guaranteed interest or bonuses applied and the cost of converting the benefits into an annuity.]
Textual Amendments