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The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc) Regulations 2011

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This is the original version (as it was originally made).

Manner in which an option to commute may be exercised

30.—(1) The manner in which an option to commute periodic compensation under paragraph 9 of Schedule 5 to the Act may be exercised is specified in paragraphs (2) to (4).

(2) A transferee may only exercise an option to commute a portion of the periodic compensation to which they are entitled by giving notice to the Board in writing.

(3) A notice given under paragraph (2) must include—

(a)the name, address, date of birth and national insurance number of the transferee; and

(b)the percentage of the periodic compensation which the transferee opts to commute.

(4) The Board may require a transferee exercising an option to commute to produce any document or provide any other information relevant to the Board’s functions in relation to the transferee’s request for commutation.

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