F1PART IVA REQUIREMENTS RELATING TO PENSION CREDIT BENEFIT
C1CHAPTER II TRANSFER VALUES
Pt. 4A Ch. 2 modified (1.4.2009) by Local Government Pension Scheme (Administration) Regulations (Northern Ireland) 2009 (S.R. 2009/33), regs. 1, 94
97P Interpretation of Chapter II.
1
In this Chapter—
F2“category”, in relation to benefits, has the meaning given by section 97F(6B);
“eligible member”, in relation to a qualifying scheme, means a member who has pension credit rights under the scheme;
F2“flexible benefit” has the meaning given by section 74 of the Pension Schemes Act 2015;
“normal benefit age”, in relation to an eligible member of a qualifying scheme, means the earliest age at which the member is entitled to receive a pension by virtue of his pension credit rights under the scheme (disregarding any scheme rule making special provision as to early payment of pension on grounds of ill-health or otherwise);
F3...
“pension credit rights”, in relation to a qualifying scheme, means rights to future benefits under the scheme which are attributable (directly or indirectly) to a pension credit;
“qualifying scheme” means a funded occupational pension scheme and a personal pension scheme;
“transfer notice” has the meaning given by section 97F(7).
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3
In this Chapter, references to the relevant statement under section 97H, in relation to a transfer notice F5in relation to benefits other than money purchase benefits, are to the statement under that section on which the giving of the notice depended.
4
For the purposes of this section, an occupational pension scheme is funded if it meets its liabilities out of a fund accumulated for the purpose during the life of the scheme.
Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV