Occupational Pension Schemes (Contracting-out) Regulations 1996

[F1 Lump sum benefits and salary-related contracted-out schemes. E+W+S

19.   A salary related contracted-out scheme may not provide for the payment of a lump sum instead of a [F2 pension except in accordance with—

(a) regulation 20 (payment of lump sum instead of a pension payable under a relevant scheme); or

(b) regulation 60 (payment of a guaranteed minimum pension as a lump sum).]]

Textual Amendments

F1 Reg. 19 substituted (6.4.2002) by The Occupational and Personal Pension Schemes (Contracting-out) (Miscellaneous Amendments) Regulations 2002 (S.I. 2002/681) , regs. 1 , 2(7)

F2 Words in reg. 19 substituted (6.4.2006) by Taxation of Pension Schemes (Consequential Amendments of Occupational and Personal Pension Schemes Legislation) Order 2006 (S.I. 2006/744) , arts. 1 , 8(4)