C1C2C3Part I Occupational pensions

Annotations:
Modifications etc. (not altering text)
C3

Pt. I: Pensions Act 2004 (c.35), Pt. 3 construed as one with Pt. I of this Act (4.12.2005 for specified purposes, 30.12.2005 in so far as not already in force) by Pensions Act 2004 (c. 35), ss. 233, 322(1) (with s. 313); S.I. 2005/3331, art. 2(1)(a)(b), Sch. Pt. 1

Modification of schemes

67FF1The reporting requirement

1

For the purposes of section 67(2)(c), the reporting requirement is satisfied in relation to the exercise of a power to which the subsisting rights provisions apply to make a regulated modification if the trustees have, in accordance with subsection (2)—

a

notified each affected member in whose case the consent requirements apply in respect of the modification, and

b

taken all reasonable steps to notify each affected member in whose case the actuarial equivalence requirements apply in respect of the modification,

that they have made a determination, or given their consent, for the purposes of section 67E(1) in relation to the exercise of the power to make the modification.

2

The trustees must give (or, where the actuarial equivalence requirements apply, take all reasonable steps to give) the notification—

a

within a reasonable period beginning with the date of the determination or giving of consent mentioned in subsection (1), and

b

before the date on which the modification takes effect.