Determination of the buy-out valueE+W
This section has no associated Explanatory Memorandum
32.—(1) The buy-out value is an amount determined by the scheme manager.
(2) If an additional pension election or a faster accrual election is subsequently made in respect of a person (P), the scheme manager may—
(a)re-determine the buy-out value; and
(b)send a written notice to P stating the re-determined buy-out value.