The Pension Sharing (Pension Credit Benefit) Regulations 2000
PART I GENERAL
1 Citation, commencement and interpretation
2 Salary related schemes
PART II PENSION CREDIT BENEFIT UNDER OCCUPATIONAL PENSION SCHEMES
3Pension credit benefit in lump sum form
4 Commutation of part of pension credit benefit
5 Means of assuring pension credit benefit
6 Alternatives to pension credit benefit
7 Early retirement or deferred retirement
8 Bought out benefits
9 Money purchase benefits
10 Transfer of a person’s pension credit rights without consent
11 Value of alternatives to pension credit benefit
12 Discharge of liability where pension credit benefit or alternative benefits are secured by insurance policies or annuity contracts
13 Conditions on which pension credit benefit secured by insurance policies and annuity contracts may be commuted
14 Other requirements applying to insurance policies and annuity contracts
15 Further conditions on which liability may be discharged
PART III TRANSFER VALUES
16 Transfer payments in respect of safeguarded rights—general
17 Transfer payments to money purchase contracted-out schemes and appropriate schemes
18 Transfer payments to salary related contracted-out schemes
19 Transfer payments to overseas schemes or overseas arrangements
20 Requirements to be met by annuities
21 Requirements of other pension arrangements
22 Requirements to be met by an eligible scheme
23 Written statement of the amount of the cash equivalent of the member’s pension credit rights
24 Manner of calculation and verification of cash equivalents
25 Time period for notification to the Regulatory Authority of failure by the trustees or managers of an occupational pension scheme to comply with a transfer notice
26 Extension of time limits for payment of cash equivalents
27 Increases and reductions of cash equivalents before a statement of entitlement has been sent to the eligible member
28 Increases and reductions of cash equivalents once the written statement has been sent to the eligible member
29 Increases of cash equivalents on late payment
30 Personal pension schemes: increases and reductions of cash equivalents
31 Civil Penalties
PART IV INDEXATION
32 Increase of relevant pension
33 Annual increase in rate of pension: qualifying occupational and personal pension schemes
34 Effect of increase above the statutory requirement: qualifying occupational pension schemes
35 Definition of eligible pension credit rights
SCHEDULEActuary’s certificate

2000 No. 1054

PENSIONS

The Pension Sharing (Pension Credit Benefit) Regulations 2000

Made

Laid before Parliament

Coming into force

The Secretary of State for Social Security, in exercise of the powers conferred upon him by sections 68D, 101C(2), 101D(1)(b), (2)(b) and (4)(b), 101E(2), 101F(2)(b), (c), (3)(b), and (6)(b), 101H(2)(a) and (b), and (3), 101I, 101J(2), 101L(1), (2)(a) and (b), and (3), 101P(2)(b), 101Q, 181(1)M1 and 182(2) and (3) of the Pension Schemes Act 1993M2, sections 10(2)(b), 124(1)M3 and 174(2) and (3) of the Pensions Act 1995M4, and sections 40(1) and (3) and 83(4) and (6) of the Welfare Reform and Pensions Act 1999M5 and of all other powers enabling him in that behalf, after consulting such persons as he considered appropriateM6, hereby makes the following Regulations:

Annotations:
Marginal Citations
M1

Section 181(1) is cited because of the meaning there given to “prescribed" and “regulations".

M2

1993 c. 48. Sections 101C, 101D, 101E, 101F, 101H, 101I, 101J, 101L, 101P and 101Q are inserted by section 37 of the Welfare Reform and Pensions Act 1999 (c. 30).

M3

Section 124(1) is cited because of the meaning there given to “prescribed" and “regulations".

M6

See section 120(1) of the Pensions Act 1995 and section 83(11) of the Welfare Reform and Pensions Act 1999.