# The Occupational Pension Schemes (Scheme Administration) Regulations 1996, Regulation 24: Requirements for processing financial transactions


(1) The trustees or managers of a relevant scheme must secure that core financial transactions are processed promptly and accurately.
(2) A “core financial transaction” includes (but is not limited to)—
(a) investment of contributions to the scheme;
(b) transfers of assets relating to members into and out of the scheme;
(c) transfers of assets relating to members between different investments within the scheme;
(d) payments from the scheme to, or in respect of, members.
(3) In relation to a scheme which is not a money purchase scheme, this regulation applies only in relation to the provision of money purchase benefits.

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Source: https://www.legislation.gov.uk/uksi/1996/1715/regulation/24 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996/regulation-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.