Modifications etc. (not altering text)
C1Pt. IV Ch. IV applied (31.5.1994) by The Railway Pensions (Protection and Designation of Schemes) Order 1994 (S.I. 1994/1432), arts. 1(1), 6(4)
(1)Where—
(a)a member has exercised the option conferred by section 95; and
(b)the trustees or managers of the scheme have done what is needed to carry out what the member requires,
the trustees or managers shall be discharged from any obligation to provide benefits to which the cash equivalent related except, in such cases as are mentioned in section 96(2), to the extent that an obligation to provide such guaranteed minimum pensions or give effect to such protected rights continues to subsist.
(2)Subject to the following provisions of this section, if the trustees or managers of a scheme receive an application under section 95, they shall do what is needed to carry out what the member requires—
[F1(a)in the case of a member of a salary related occupational pension scheme, within 6 months of the guarantee date, or (if earlier) by the date on which the member attains normal pension age,
(b)in the case of a member of any other occupational pension scheme, within 6 months of the date on which they receive the application, or (if earlier) by the date on which the member attains normal pension age, or
(c)in the case of a member of a personal pension scheme, within 6 months of the date on which they receive the application.]
(3)If—
(a)disciplinary proceedings or proceedings before a court have been begun against a member of an occupational pension scheme at any time before the expiry of the period of 12 months beginning with the termination date; and
(b)it appears to the trustees or managers of the scheme that the proceedings may lead to the whole or part of the pension or benefit in lieu of a pension payable to the member or his widow being forfeited; and
(c)the date before which they would (apart from this subsection) be obliged under subsection (2) to carry out what the member requires is earlier than the end of the period of 3 months after the conclusion of the disciplinary or court proceedings (including any proceedings on appeal),
then, subject to the following provisions of this section, they must instead do so before the end of that period of 3 months.
[F2(3A)In this section, “guarantee date” has the same meaning as in section 93A.]
(4)F3...
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F3The Regulatory Authority may, in prescribed circumstances, grant an extension of the period within which the trustees or managers of the scheme are obliged to do what is needed to carry out what a member of the scheme requires.]
F3(...). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F3(4A)Regulations may make provision in relation to applications for extensions under subsection (4).]
(6)If the [F4Regulatory Authority] are satisfied—
(a)that there has been a relevant change of circumstances since they granted an extension, or
(b)that they granted an extension in ignorance of a material fact or on the basis of a mistake as to a material fact,
they may direct that the extension be shortened or revoke it.
[F5(7)Where the trustees or managers of an occupational pension scheme have not done what is needed to carry out what a member of the scheme requires within six months of the date mentioned in paragraph (a) or (b) of subsection (2)—
(a)they must, except in prescribed cases, notify the Regulatory Authority of that fact within the prescribed period, and
(b)section 10 of the Pensions Act 1995 (power of the Regulatory Authority to impose civil penalties) shall apply to any trustee or manager who has failed to take all such steps as are reasonable to ensure that it was so done.
(8)Regulations may provide that in prescribed circumstances subsection (7) shall not apply in relation to an occupational pension scheme.]
Textual Amendments
F1S. 99(2)(a)-(c) substituted for s. 99(2)(a) (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 6 para. 6(a); S.I. 1997/664, art. 2(3), Sch. Pt. 2
F2S. 99(3A) inserted (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 6 para. 6(b); S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 5)
F3S. 99(4)(4A) substituted (6.4.1996 for specified purposes, 6.4.1997 in so far as not already in force) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 6 para. 6(c); S.I. 1996/778, art. 2(5)(a), Sch. Pt. V; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 5)
F4Words in s. 99(6) substituted (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 6 para. 6(d); S.I. 1997/664, art. 2(3), Sch. Pt. 2 (with art. 5)
F5S. 99(7)(8) added (6.4.1996 for specified purposes, 6.4.1997 in so far as not already in force) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 6 para. 6(e); S.I. 1996/778, art. 2(5)(a), Sch. Pt. V; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 5)
Modifications etc. (not altering text)
C2Ss. 93-101 modified (1.4.1998) by The Local Government Pension Scheme (Scotland) Regulations 1998 (S.I. 1998/366), regs. 1, 116-118
Commencement Information
I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2