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There are currently no known outstanding effects for the The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 2014, Section 18A.
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18A.—(1) The information mentioned in paragraph (2) must be given in accordance with this regulation to a member who—
(a)has an opportunity to transfer flexible benefits;
(b)(i)requests information about what the member may do with the flexible benefits, or
(ii)informs the trustees or managers of the scheme that the member is considering, or has made a decision in relation to, what to do with the flexible benefits;
(c)(i)will reach normal minimum pension age within 4 months of making a request, or informing the trustees or managers of the scheme, in accordance with sub-paragraph (b);
(ii)has reached normal minimum pension age, or
(iii)meets the ill-health condition, and
(d)has not been given information under this regulation or regulation 19(2)(b)(ii) in the previous 12 months.
(2) The information is—
(a)a statement of the options available to the member under the scheme rules, and
(b)that listed in Part 3 of Schedule 7 and [F2, subject to regulation 18C,] in Schedule 9A.
(3) The information must be given within 2 months of the member making a request, or informing the trustees or managers of the scheme, in accordance with paragraph (1)(b).]
[F3(2A) In relation to a collective money purchase scheme, information given in accordance with paragraph (2)(a) must include a statement that—
(a)there is no promise or guarantee as to the rate or amount of benefits provided under the scheme, and
(b)the rate or amount of benefits may fluctuate, which may result in—
(i)reduced benefits before benefit becomes payable;
(ii)reduced benefits after benefit becomes payable.]
Textual Amendments
F1Regs. 18A-18B inserted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 6
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