The Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations 2015

Information to be provided on initial enquiry

8.—(1) Subject to paragraph (4), the trustees or managers must provide any member or survivor who has subsisting rights in respect of any safeguarded benefits under the pension scheme, with the information specified in regulation 6, if the circumstances set out in paragraph (2) apply.

(2) The circumstances referred to in paragraph (1) are where the member or survivor—

(a) makes a written request for information from the trustees or managers as to how to carry out a relevant transaction;

(b) makes a written request for information from the trustees or managers as to how to make an application for a statement of entitlement;

(c) makes an application for a statement of entitlement; or

(d) otherwise makes a written request for a valuation of the member’s subsisting rights to safeguarded benefits under the scheme.

(3) The information specified in regulation 6 must be provided within one month beginning with the date on which the request or application was made by the member or survivor.

(4) Paragraph (1) does not apply —

(a) if the circumstances in paragraph (2)(c) apply, where the information has already been provided to the member or survivor because the circumstances in paragraph (2)(b) previously applied;

(b) where the information specified in regulation 6 is to be provided to the member or survivor in accordance with regulation 9(1)(b)(i) within a period of one month beginning with the date of the request or application described in paragraph (2) of this regulation; or

(c) where the trustees or managers meet the condition in paragraph (6).

(5) If the trustees or managers meet the condition in paragraph (6), the information in paragraph (7) should be provided in writing to the member or survivor within one month beginning with the date on which the request or application was made.

(6) The condition referred to in paragraphs (4)(c) and (5) is that the trustees or managers can satisfy themselves that, if the value of the member’s or survivor’s subsisting rights to safeguarded benefits under the scheme was to be calculated in accordance with regulation 5(2) within one month beginning with the date of the member’s request or application, the exception in regulation 5(1) would apply.

(7) The information referred to in paragraph (5) is a written statement that there will be no requirement for the trustees or managers to check that appropriate independent advice has been received before they are able to carry out the relevant transaction.