{
  "url": "https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-1996/regulation-14",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-1996/regulation-14.json",
  "legislation": "uksi/1996/1847",
  "legislation_title": "The Occupational Pension Schemes (Transfer Values) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-1996",
  "path": "regulation/14",
  "kind": "regulation",
  "number": "14",
  "heading": "Extension of time within which member may exercise option to take a cash equivalent shown in the statement of entitlement",
  "text": "(1) This regulation applies where—\n(a) the member disputes the amount of the cash equivalent shown in the statement of entitlement within three months beginning with the guarantee date; or\n(b) the member’s cash equivalent shown in the statement of entitlement has been reduced or increased under regulation 9, including where the member disputes the basis or amount of the increase or reduction within three months beginning with the date that the member is informed in writing that the cash equivalent has been reduced or increased.\n(2) Where this regulation applies—\n(a) if the member has made an application to take the cash equivalent under section 95(1) of the 1993 Act, that application lapses;\n(b) the time for making a fresh application to take the cash equivalent under section 95(1) is extended so that the time is three months beginning with the date on which the member is informed in writing of—\n(i) the reduced or increased cash equivalent; or, if later,\n(ii) where the cash equivalent shown in the statement of entitlement has been disputed, the finally determined cash equivalent following the dispute, even where the cash equivalent has not changed; and\n(c) the time specified in section 99(2)(a) (trustees’ duties after exercise of option) is extended so that the time is six months beginning with the date on which the member is informed in writing of—\n(i) the reduced or increased cash equivalent; or, if later,\n(ii) where the cash equivalent shown in the statement of entitlement has been disputed, the finally determined cash equivalent following the dispute, even where the cash equivalent has not changed.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 14 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations 2015 (S.I. 2015/498), regs. 1(2), 6(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/1847/regulation/14",
    "retrieved_at": "2026-10-29T12:38:58.641877+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}