SCHEDULES
E1 SCHEDULE 6 General minor and consequential amendments
The Pension Schemes Act 1993 (c. 48)
I1I25
In section 98 (variation and loss of rights to cash equivalents)—
a
in subsection (1), after “occupational pension scheme” there is inserted “
other than a salary related scheme
”
,
b
after that subsection there is inserted—
1A
Regulations may provide that a member of a salary related occupational pension scheme who continues in employment to which the scheme applies after his pensionable service in that employment terminates—
a
acquires a right to only part of his guaranteed cash equivalent, or
b
acquires no right to his guaranteed cash equivalent.
c
in subsection (2), after “(1)” there is inserted “
or (1A)
”
, and
d
in subsection (3)—
i
in paragraph (a), after “occupational pension scheme” there is inserted “
other than a salary related scheme
”
, and
ii
for paragraph (b) and the “and” immediately preceding it there is substituted—
or
aa
by virtue of regulations under subsection (1A) or (2), a member of a salary related occupational pension scheme does not, on such a termination, acquire a right to the whole or any part of his guaranteed cash equivalent,
and his employment terminates at least one year before normal pension age
Sch 6: The amendment by this Act of an enactment which extends to Northern Ireland extends also to Northern Ireland see s. 178(1)(2)(3).