First information on accessing benefitsN.I.
19.—(1) The information mentioned in paragraph (2) must be given in accordance with this regulation to a member who has rights to money purchase benefits.
(2) The information is—
(a)a statement of the options available to the member under the scheme rules, and
(b)that listed in Part 1 of Schedule 7 where the member has an opportunity to select an annuity.
(3) The information must be given at least 4 months before—
(a)where there is a retirement date, that date, or
(b)where there is no retirement date, the date the member attains normal pension age(1).
(4) For the purposes of paragraph (3), where the interval between the date on which the retirement date is specified and the date that the benefits will become payable is less than 4 months, the information must be given within 10 days of the date on which the retirement date is specified.
(5) In this regulation “retirement date” means the date specified by—
(a)the member to the trustees or managers of the scheme that is acceptable under the rules of the scheme, or
(b)the trustees or managers of the scheme where no acceptable date has been specified under sub-paragraph (a).
Commencement Information
I1Reg. 19 in operation at 6.4.2014, see reg. 1(1)
See section 175 of the Pension Schemes (Northern Ireland) Act 1993