Fixed rate revaluation of guaranteed minimum pensions secured by insurance policies or annuity contracts
This section has no associated Explanatory Memorandum
23. A scheme may make provision by virtue of section 16(2) of the 1993 Act(1) (revaluation of earnings factors for the purposes of section 14: early leavers etc.) for those of its members whose guaranteed minimum pensions are, or are to be, appropriately secured (within the meaning of section 19(3) of the 1993 Act), even though the same provision is not made for other members of the scheme.
(1)
Section 16(2) is substituted by paragraph 16 of Schedule 13 to the 2014 Act. Section 16(2) is saved for certain purposes by S.I. 2015/1502.