{
  "url": "https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-northern-ireland-1996/regulation-14",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-northern-ireland-1996/regulation-14.json",
  "legislation": "nisr/1996/619",
  "legislation_title": "The Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996",
  "legislation_url": "https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-northern-ireland-1996",
  "path": "regulation/14",
  "kind": "regulation",
  "number": "14",
  "heading": "Extension of time within which member may exercise option to take a guaranteed cash equivalent",
  "text": "(1) Where a member’s guaranteed cash equivalent has been reduced or increased under regulation 9, section 90(1)(aa) does not apply, or ceases to apply, but if the member—\n(a) has made a relevant application within 3 months beginning on the guarantee date; or\n(b) makes a relevant application within 3 months beginning on the date on which the member is informed that the guaranteed cash equivalent is to be increased or reduced,\nthe member acquires a right to the guaranteed cash equivalent as so increased or reduced.\n(2) In any case in which a member, within 3 months beginning on the guarantee date, disputes the amount of the guaranteed cash equivalent, or, within 3 months beginning on the date on which that member is informed that the guaranteed cash equivalent is to be increased or reduced in accordance with regulation 9, disputes the basis or amount of the increase or reduction, section 90(1)(aa) does not apply, or ceases to apply, but if the member—\n(a) has made a relevant application within 3 months beginning on the guarantee date; or\n(b) makes a relevant application within 3 months beginning on the date on which the amount of the guaranteed cash equivalent is finally determined the member acquires a right to the guaranteed cash equivalent at the amount so determined.",
  "extent": "N.I.",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 14 in operation at 6.4.1997, see reg. 1(1)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "coming into force",
      "affecting": "nisr/1996/619",
      "affecting_title": "The Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996"
    },
    {
      "type": "substituted",
      "affecting": "nisr/2015/164",
      "affecting_title": "The Occupational and Personal Pension Schemes (Transfer Values) (Amendment and Revocation) Regulations (Northern Ireland) 2015"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/1996/619/regulation/14",
    "retrieved_at": "2026-10-29T02:31:28.118011+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."
}