15 Exceptions to the equal treatment rule: use of actuarial factors which differ for men and women
1 The factors prescribed for the purposes of section 64(3)(a) of the Pensions Act (equal treatment rule: exception relating to the application of actuarial factors which differ for men and women to employers' contributions) are actuarial factors which differ for men and women in respect of the differences in the average life expectancy of men and women and which are determined with a view to providing equal periodical pension benefits for men and women.
2 The following benefits are prescribed for the purposes of section 64(3)(b) of the Pensions Act (equal treatment rule: exception relating to the application of actuarial factors which differ for men and women to the determination of prescribed benefits)—
(a) a lump sum payment which consists of a commuted periodical pension or part of such a pension;
(b) a periodical pension granted in exchange for a lump sum payment;
(c) money purchase benefits within the meaning of section 181(1) of the Pension Schemes Act 1993;
(d) transfer credits and any rights allowed to a member by reference to a transfer from a personal pension scheme;
(e) a transfer payment including a cash equivalent within the meaning of section 94 of the Pension Schemes Act 1993;
(f) a periodical pension payable in respect of a member who opts to take such benefits before normal pension age or in respect of a member who defers taking such benefits until after normal pension age;
(g) benefits payable to another person in exchange for part of a member’s benefits and the part of the member’s benefits given up for that purpose;
(h) benefits provided in respect of a member’s voluntary contributions within the meaning of section 111 of the Pension Schemes Act 1993.