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  1. Introductory Text

  2. PART I GENERAL

    1. 1. Citation, commencement and interpretation

    2. 1A. Salary related schemes

  3. PART II RESTRICTIONS ON RIGHT TO CASH EQUIVALENT

    1. 2. Pre-1986 leavers

    2. 2A.Collective money purchase schemes during winding-up

    3. 3. Rules on continuation in employment after termination of pensionable service

    4. 4. Right to further cash equivalent on termination of employment to which the scheme applies

    5. 5. Treatment of a number of employments as a single employment

  4. PART III ... STATEMENTS OF ENTITLEMENT AND CALCULATION OF TRANSFER VALUES

    1. 6. ... statements of entitlement

    2. 7. Manner of calculation and verification of cash equivalents - general provisions

    3. 7A.Manner of calculation of initial cash equivalents for salary related benefits other than cash balance benefits not calculated by reference to final salary

    4. 7B.Initial cash equivalents for salary related benefits other than cash balance benefits not calculated by reference to final salary: assumptions and guidance

    5. 7C.Manner of calculation of initial cash equivalents for money purchase benefits (other than collective money purchase benefits) and cash balance benefits not calculated by reference to final salary

    6. 7ZC.Manner of calculation of initial cash equivalents for collective money purchase benefits

    7. 7D.Reductions to initial cash equivalents

    8. 7E.Alternative manner of calculating and verifying cash equivalents

    9. 9. Increases and reductions of cash equivalents shown in the statement of entitlement

    10. 10. Increases of cash equivalents on late payment

    11. 11. Disclosure

  5. PART IV RECEIVING SCHEMES, ANNUITIES AND ARRANGEMENTS

    1. 12. Requirements to be met by receiving schemes, annuities and arrangements

  6. PART V TIME LIMITS FOR PAYMENT OF CASH EQUIVALENTS

    1. 13.Extension of time limits for payment of cash equivalents

  7. PART VI MODIFICATION OF THE 1993 ACT

    1. 14.Extension of time within which member may exercise option to take a cash equivalent shown in the statement of entitlement

    2. 15. Cases where normal pension age is earlier than 60

    3. 16. Accrued rights, or liabilities in respect of accrued rights, transferred without consent

    4. 17. Schemes with an overseas element

    5. 18. Termination of pensionable service in certain circumstances to be disregarded

    6. 19. Hybrid schemes

  8. PART VII PENALTIES

    1. 20. Maximum penalty under section 10 of the 1995 Act

  9. PART VIII REVOCATIONS AND TRANSITIONAL PROVISIONS

    1. 21. Revocations and transitional provisions

  10. Signature

    1. SCHEDULE 1

      INFORMATION TO BE MADE AVAILABLE TO MEMBERS

      1. 1.Whether any cash equivalent (within the meaning of Chapter 1...

      2. 2.Whether any transfer value (not being a cash equivalent within...

      3. 3.Where information is made available under paragraph 1 or 2...

      4. 4.Where information is made available under this Schedule to a...

    2. SCHEDULE 1A

      Reductions in initial cash equivalents

      1. 1.In a case where two or more paragraphs of this...

      2. 2.In the case of a scheme to which Part 3...

      3. 3.The insufficiency conditions are that the last insufficiency report shows...

      4. 4.If the insufficiency conditions are met the trustees may reduce,...

      5. 5.The deficiency percentage for any such part of a member’s...

      6. 6.If, by virtue of regulations made under section 232 of...

      7. 7.In a case where a contributions equivalent premium has been...

      8. 8.Where— (1) The cash equivalent shown in a member’s statement...

      9. 9.Reductions in initial cash equivalents

      10. 10.Where all or any of a member’s benefits have been...

      11. 11.For the purposes of paragraph 10, “appropriately secured” means the...

      12. 12.Where a scheme has (in the case of a cash...

      13. 13.If, by virtue of regulations made under section 73B(4)(b)(i) of...

      14. 14.Where all or any of the benefits to which an...

      15. 15.The trustees may reduce an initial cash equivalent to reflect...

    3. SCHEDULE 1B

      Insufficiency Reports

      1. 1.Where the trustees have requested an insufficiency report under regulation...

      2. 2.The insufficiency report must contain— (a) a comparison, as at...

      3. 3.The actuary may deduct from the assets of the scheme...

      4. 4.Where it appears to the actuary that the circumstances are...

      5. 5.Where rights under an insurance policy are excluded under paragraph...

      6. 6.The value of any rights under an insurance policy included...

      7. 7.The insufficiency report liabilities are— (a) for active members with...

      8. 8.When preparing the insufficiency report— (a) the actuary must make...

      9. 9.In this Schedule— “relevant assets” means, subject to paragraphs 2(b)...

    4. SCHEDULE 2

      TRANSITIONAL PROVISIONS

      1. In the case of an application such as is mentioned...

    5. SCHEDULE 3

      REVOCATIONS

  12. Explanatory Note