Paragraph 5 Amendments of the Occupational Pension Schemes (Qualifying Service-Consequential and Other Provisions) Regulations 1987

Regulation 6 of the M1Occupational Pension Schemes (Qualifying Service - Consequential and Other Provisions) Regulations 1987 (purpose for which the Occupational Pensions Board may modify occupational pension schemes) is amended as described in sub-paragraphs (2) and (3).

Paragraph (a) is replaced with the following—

“(a)

to provide the alternative to short service benefit described in regulation 9 of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 (bought out benefits) without the member’s consent in the circumstances described in paragraph (5)(b) of that regulation; and”.

In paragraph (b), the words “the conditions specified in regulation 5(c)” are replaced with the words “ the requirements of regulation 5(5) ”.