Regulation 2 Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1996

for paragraph (a), substitute—

“(a)

must comply with any standards adopted or prepared, and from time to time revised, by the Board for Actuarial Standards which are relevant to the matters specified in section 12A(4) of the 1993 Act;”,

in paragraph (f), after “payment of a lump sum” insert “but may not have regard to any payment of a lump sum made as a result of the death of an earner”, and

after paragraph (g), add—

“(h)

must not have regard to any discretionary benefits; and

(i)

must comply with the further requirements set out in Schedule 3.”.