- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/04/2015)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 06/04/2016
Point in time view as at 06/04/2015. This version of this provision has been superseded.
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There are currently no known outstanding effects for the The Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations (Northern Ireland) 2015, Section 10.
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10.—(1) Where the cash equivalent has been increased or reduced in accordance with regulation 9(5) M1 of the Transfer Values Regulations (increases and reductions of cash equivalents shown in the statement of entitlement) after the statement of entitlement has been provided, the trustees or managers must provide further information to the member in accordance with this regulation, on the day on which written confirmation that the cash equivalent has been increased or reduced (as the case may be) is provided to the member.
(2) Where the value of the cash equivalent is increased such that the exception in regulation 5(1) no longer applies, the trustees or managers must—
(a)inform the member that the exception in regulation 5(1) no longer applies;
(b)provide the information specified in regulation 6, or
(c)inform the member of the date for provision by the member or survivor of confirmation that appropriate independent advice has been received, which is the last day of the 3 month period beginning with the date on which the information under this paragraph is provided.
(3) Where the value of the cash equivalent is reduced such that the exception in regulation 5(1) now applies, the trustees or managers must inform the member or survivor that there is now no requirement for the trustees or managers to check that appropriate independent advice has been received before they are able to carry out a relevant transaction.
(4) Where the value of the cash equivalent is changed after the member has received appropriate independent advice, but the value remains over £30,000, the trustees or managers must inform the member that it is not necessary to obtain further appropriate independent advice as a result of the change in the value of the cash equivalent.
Marginal Citations
M1Regulation 9 was amended by regulation 15(7) and (8) of S.R. 2005 No. 171 and is amended by regulation 4(8) of S.R. 2015 No. 164
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