- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (31/12/2020)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 31/12/2020.
Pensions Act 1995, Section 154 is up to date with all changes known to be in force on or before 12 October 2024. 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.
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(1)In paragraph (a) of section 94(1) of the M1Pension Schemes Act 1993—
(a)after “occupational pension scheme” there is inserted “ other than a salary related scheme ”, and
(b)after “terminates” there is inserted “ (whether before or after 1st January 1986) ”.
(2)After that paragraph there is inserted—
“(aa)a member of a salary related occupational pension scheme who has received a statement of entitlement and has made a relevant application within three months beginning with the guarantee date in respect of that statement acquires a right to his guaranteed cash equivalent”.
(3)After that subsection there is inserted—
“(1A)For the purposes of subsection (1)(aa), a person’s “guaranteed cash equivalent” is the amount stated in the statement of entitlement mentioned in that subsection.”
(4)In subsection (2) of that section, after the definition of “the applicable rules” there is inserted—
““the guarantee date” has the same meaning as in section 93A(2)”.
(5)After that subsection there is inserted—
“(3)Regulations may provide that, in prescribed circumstances, subsection (1)(aa) does not apply to members of salary related occupational pension schemes or applies to them with prescribed modifications.”
Commencement Information
I1S. 154 in force at 6.4.1996 for specified purposes by S.I. 1996/778, art. 2(5)(a), Sch. Pt. V
I2S. 154 in force at 6.4.1997 in so far as not already in force by S.I. 1997/664, art. 2(3), Sch. Pt. 3
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