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Pension Schemes Act 1993

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Point in time view as at 31/05/2021.

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Pension Schemes Act 1993, Section 93A is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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[F193ARight to statement of entitlement: benefits other than money purchaseE+W+S

(1)The trustees or managers of a pension scheme must, on the application of any member, provide the member with a statement of entitlement in respect of the member's transferrable rights in relation to categories of benefits other than money purchase benefits.

(2)In the case of a member with transferrable rights in relation to two categories of benefits other than money purchase benefits, the application may relate to transferrable rights in relation to either or both of those categories.

(3)For the purposes of this Chapter a member's “statement of entitlement” is a written statement of the amount of the cash equivalent at the guarantee date of the transferrable rights to which the application under subsection (1) relates.

(4)In this Chapter “the guarantee date” means the date by reference to which the value of the cash equivalent is calculated, and must be—

(a)within the prescribed period beginning with the date of the application, and

(b)within the prescribed period ending with the date on which the statement of entitlement is provided to the member.

(5)Regulations may make provision in relation to applications under this section and may, in particular, restrict the making of successive applications.

(6)If the trustees or managers of a pension scheme fail to comply with subsection (1), section 10 of the Pensions Act 1995 (civil penalties) applies to any trustee or manager who has failed to take all reasonable steps to secure compliance.]

Textual Amendments

F1Ss. 93-94 substituted (3.3.2015 for specified purposes, 6.4.2015 in so far as not already in force) by Pension Schemes Act 2015 (c. 8), s. 89(1)(b)(3)(b), Sch. 4 para. 8 (with s. 87)

Modifications etc. (not altering text)

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