The Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations 1996
1Citation, commencement and interpretation
2Conditions subject to which effect may be given to protected rights of a member of a scheme on winding up by insurance policies
3Requirements applying to insurance companies
4Conditions on which policies of insurance may be surrendered
5Conditions on which appropriate policies of insurance may be commuted
6Other requirements applying to policies of insurance
SCHEDULEINFORMATION TO BE SPECIFIED IN THE WRITTEN NOTICE
1Details of the proposal to— (i) wind-up the scheme;
2An explanation of the effect of winding-up a scheme.
3Details of the cash equivalent of the member’s protected rights...
4A statement that if the member does not wish his...
5The options available to the member in respect of his...
6The name and address of the insurance company providing the...
7Where appropriate, details of any administrative charges or other costs...
8The rights and options available under the appropriate policy of...
9The availability of independent financial advice.

1996 No. 775

PENSIONS

The Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations 1996

Made

Laid before Parliament

Coming into force

The Secretary of State for Social Security, in exercise of powers conferred on him by sections 32A, 181(1) and 182(2) and (3) of the Pension Schemes Act 19931, and all other powers enabling him in that behalf, by this instrument, which contains only regulations which are consequential upon section 146 of the Pensions Act 19952 and is made before the end of the period of six months beginning with the coming into force of that enactment, hereby makes the following Regulations3: