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The Occupational Pension Schemes (Revaluation) Regulations 1991
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- UK Statutory Instruments
- 1991 No. 168
- Regulation 6
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Administrative expenses in relation to money purchase benefits
6.—(1) This regulation applies in relation to money purchase benefits that are revalued in accordance with paragraph 5 of Schedule 1A.
(2) The trustees or managers of the scheme may deduct from any pension or other retirement benefit that is revalued in accordance with paragraph 5 of Schedule 1A an amount in respect of the administrative expenses incurred by them in carrying that paragraph into effect. The amount deducted must not exceed an amount equal to the smaller of—
(a)the administrative expenses incurred, and
(b)the administrative expenses that would have been incurred in providing the corresponding benefit if the member’s pensionable service had not terminated before normal pension age.
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