Regulation 8 Commutation, forfeiture and surrender

(1)

F1Section 86(1) of the Act is modified so that it does not apply in the cases specified in this regulation.

(2)

Section 86(1) of the Act does not apply to commutation of a benefit where the lump sum to which the whole or part of the pension is commuted is, itself, revalued in accordance with Chapter II of Part IV of the Act.

(3)

Section 86(1) of the Act does not apply to forfeiture of the whole or part of a pension where the forfeiture applies only after the pension has been revalued in accordance with Chapter II of Part IV of the Act.

(4)

Section 86(1) of the Act does not apply to surrender of the whole or part of a pension where it is to provide benefit for the F2widow, widower or surviving civil partner or a dependant of the member and the scheme provides for that benefit to be revalued in accordance with Chapter II of Part IV of the Act.

Annotations

Textual amendments

F1: Words in reg. 8 substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 31(8)
F2: Words in reg. 8(4) substituted (5.12.2005) by The Civil Partnership (Pensions, Social Security and Child Support) (Consequential, etc. Provisions) Order 2005 (S.I. 2005/2877), art. 1, Sch. 2 para. 3 (with art. 3)