PART 7Information about benefits in payment
Changes to benefitsI122
1
The information listed in paragraphs 6, 8 and 9 of Schedule 7 must be given to a person in accordance with paragraph (2) where—
a
the amount of benefit payable to the person alters, and
b
that alteration is not made in accordance with the provisions referred to in paragraph 7(b) of Schedule 7.
2
The information must be given before the date on which the decision to alter the benefit takes effect, where practicable and in any event within one month of that date.
F23
This regulation does not apply where regulation 22B applies.
F1Benefit adjustment information: collective money purchase schemes22A
1
Information listed in paragraphs 15 to 20 of Schedule 7 must be provided in accordance with this regulation to members and beneficiaries of a collective money purchase scheme.
2
The information must be given each time an actuarial valuation is obtained—
a
as soon as reasonably practicable after the certification of the actuarial valuation by the scheme actuary, and
b
no less than 6 weeks before any adjustment to the rate or amount of benefits provided under the scheme following the latest actuarial valuation is applied, where reasonably practicable.
Incorrect benefit adjustments in collective money purchase schemes22B
1
The information listed in paragraphs 21 to 27 of Schedule 7 must be given in accordance with this regulation where—
a
the scheme is a collective money purchase scheme, and
b
a benefit adjustment has not been applied in accordance with the scheme rules or (as the case may be) the latest actuarial valuation.
2
The information must be given as soon as reasonably practicable to members and beneficiaries who have been or will be affected by the failure to apply the benefit adjustment in accordance with the scheme rules or (as the case may be) the latest actuarial valuation.