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Pension Schemes Act 1993

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Changes over time for: Section 24F

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Changes to legislation:

Pension Schemes Act 1993, Section 24F is up to date with all changes known to be in force on or before 07 December 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. Help about Changes to Legislation

[F124FTransfer outE+W+S

(1)Regulations may prescribe—

(a)restrictions on the transfer of the [F2earner's accrued rights under a GMP-converted scheme][F2accrued rights of a person in relation to whom GMP conversion has been effected];

(b)conditions which must be complied with on the transfer of the [F3earner's accrued rights under a GMP-converted scheme][F3accrued rights of a person in relation to whom GMP conversion has been effected].

(2)[F4Section 20(2) and (5) shall apply to regulations under this section.]

(3)[F5Where a member of a non-GMP-converted scheme makes an application under section 95(1), the trustees may with his consent adjust any F6... cash equivalent so as to reflect rights that would have accrued if the scheme had been subject to GMP conversion in accordance with Conditions 1 to 4 of section 24B.]

[F5Where—

(a)a member of a scheme makes an application under section 95(1), and

(b)GMP conversion has not been effected in relation to the member,

the trustees may with the member’s consent adjust any cash equivalent so as to reflect rights that would have accrued if GMP conversion had been effected in relation to the member in accordance with Conditions 1 to 4 of section 24B.]]

Textual Amendments

F1Ss. 24A-24H inserted (1.3.2009 for specified purposes, 6.4.2009 in so far as not already in force) by Pensions Act 2007 (c. 22), ss. 14(3), 30(2)(a); S.I. 2009/406, art. 2(a)(b)

F6Word in s. 24F(3) omitted (6.4.2015) by virtue of Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 5 (with s. 87)

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