Pension Schemes Act 2015

35 (1) Section 18 (pension liberation: interpretation) is amended as follows. E+W+S

(2) In subsection (2)(a)—

(a) after “accrued rights” insert “ or an entitlement ”;

(b) in sub-paragraph (ii), for “the applicable rules” substitute “ the scheme rules ”.

(3) In subsection (3)—

(a) for paragraph (a) substitute—

“(a) section 94 of the Pension Schemes Act 1993 (right to cash equivalent under Chapter 1 of Part 4ZA of that Act);”;

(b) in paragraph (b), for “Chapter 5 of Part 4” substitute “ Chapter 2 of Part 4ZA ”.

(4) In subsection (4)(d), for “the applicable rules” substitute “ the scheme rules ”.

(5) Omit subsection (5).