C1C2 Part III Certification of Pension Schemes and Effects on Members’ State Scheme Rights and Duties

Annotations:
Modifications etc. (not altering text)
C1

Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2

Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2

Chapter I Certification

Requirements for certification of occupational pension schemes providing guaranteed minimum pensions

20EF1Procedural requirements

1

This section specifies the procedural requirements that must be complied with in order to satisfy Condition 5 of section 20B.

2

The employer in relation to the scheme must consent to the GMP conversion in advance.

3

The trustees must take all reasonable steps to—

a

consult the earner in advance, and

b

notify all members, and survivors, affected by the GMP conversion before, or as soon as is reasonably practicable after, the conversion date.

4

The Commissioners for Her Majesty's Revenue and Customs must be notified on or before the conversion date—

a

that the GMP conversion will occur or has occurred, and

b

that it affects the earner.