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The Pension Sharing (Safeguarded Rights) Regulations 2000
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- UK Statutory Instruments
- 2000 No. 1055
- Regulation 12
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Suspension and forfeiture of safeguarded rights
12.—(1) Except in the circumstances referred to in paragraphs (2) and (3), the rules of an occupational or personal pension scheme must not permit the suspension or forfeiture of a member’s safeguarded rights or of payments giving effect to them.
(2) The circumstances in which the rules of an occupational or personal pension scheme may provide for payments giving effect to a member’s safeguarded rights to be suspended are those described in paragraph (1) of regulation 9 of the Personal and Occupational Pension Schemes (Protected Rights) Regulations 1996 (suspension of payments giving effect to protected rights), as if in that regulation—
(a)the reference to section 32 of the 1993 Act (suspension or forfeiture) was to this regulation; and
(b)the references to protected rights were to safeguarded rights.
(3) The circumstances in which the rules of an occupational or personal pension scheme may provide for payments giving effect to a member’s safeguarded rights to be forfeited are those described in paragraph (2) of regulation 9 of the Personal and Occupational Pension Schemes (Protected Rights) Regulations 1996 (forfeiture of payments giving effect to protected rights), as if in that regulation—
(a)the reference to section 32 of the 1993 Act was to this regulation; and
(b)the references to protected rights were to safeguarded rights.
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