Regulation L18 Pension increases and cash equivalents under the Pension Schemes Act 1993

Any increase in a pension which is required by virtue of Chapter III of Part IV of the Pension Schemes Act 1993^f1 (protection of increases in guaranteed minimum pensions: anti-franking) shall be paid out of the appropriate pension fund.

Any payment which an appropriate administering authority are required to make as a result of a person’s taking a right to a cash equivalent under Chapter IV of that Part shall be made out of the appropriate pension fund.