Amendment of regulation 209

1

Regulation 20 (second information on accessing benefits) is amended as follows.

2

In paragraph (2)—

a

omit “and” at the end of sub-paragraph (a);

b

at the end of sub-paragraph (b) insert—

; and

c

in Part 1 of Schedule 10 (information on the pensions guidance) where the person, under any rights and options in relation to the death of the member, has an opportunity to—

i

transfer accrued rights to flexible benefits out of the scheme under the scheme rules;

ii

apply sums or assets held for the purpose of providing flexible benefits for purchasing an annuity;

iii

take payment of a lump sum in respect of flexible benefits; or

iv

designate sums or assets held for the purpose of providing flexible benefits as available for the payment of drawdown pension.

3

For paragraph (4) substitute—

4

Before benefit becomes payable—

a

the information mentioned in sub-paragraph (b) of paragraph (2) must be given to a person having the opportunity mentioned in that sub-paragraph;

b

the information mentioned in sub-paragraph (c) of paragraph (2) must be given to a person having an opportunity mentioned in that sub-paragraph.