Paragraph 8

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch.C4, para.16(l)(b)(ii) amended by Local Government Pension Scheme 1996 reg.20
Sch. C4 para. 23 words substituted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 492(2)
Sch. C4 para. 24 inserted by Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) 2001 art. 492(3)

The benefits under a pension policy entered into under paragraph 6 or 7 shall be money purchase benefits the value of which is reasonable having regard to the amount of the contributions paid.