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.