The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

Second information on accessing benefitsE+W+S

This section has no associated Explanatory Memorandum

20.—(1) The information mentioned in paragraph (2) must be given to a person in accordance with this regulation where benefit under the scheme has, or is about to, become payable to the person.

(2) The information is the information listed—

(a)in paragraphs 6 to 9 of Schedule 7, F1...

(b)in Part 1 of that Schedule where the person has an opportunity to select an annuity under any rights and options in relation to the death of the member[F2; and

(c)in Part 1 of Schedule 10 (information on the pensions guidance) where the person, under any rights and options in relation to the death of the member, has an opportunity to—

(i)transfer accrued rights to flexible benefits out of the scheme under the scheme rules;

(ii)apply sums or assets held for the purpose of providing flexible benefits for purchasing an annuity;

(iii)take payment of a lump sum in respect of flexible benefits; or

(iv)designate sums or assets held for the purpose of providing flexible benefits as available for the payment of drawdown pension.]

(3) The information mentioned in paragraph (2)(a) must be given—

(a)where benefit becomes payable on or after normal pension age before benefit becomes payable, if practicable and in any event within one month after benefit becomes payable, or

(b)where benefit becomes payable on a date before normal pension age, within two months of that date.

[F3(4) Before benefit becomes payable—

(a)the information mentioned in sub-paragraph (b) of paragraph (2) must be given to a person having the opportunity mentioned in that sub-paragraph;

(b)the information mentioned in sub-paragraph (c) of paragraph (2) must be given to a person having an opportunity mentioned in that sub-paragraph.]

Textual Amendments