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Section 81 Discharge of liability where short service or alternative benefits secured by insurance policies or annuity contracts.I1C1

A transaction to which section 19 applies discharges the trustees or managers of an occupational pension scheme from their liability to provide for or in respect of any person short service benefit or any alternative to short service benefit—

(a)

if it is carried out not earlier than the time when that person’s pensionable service terminates; and

(b)

if and to the extent that it results in short service benefit or any alternative to short service benefit for or in respect of that person being appropriately secured (within the meaning of that section); and

(c)

if and to the extent that the requirements set out in paragraph (a) or (c) of section 19(5) are satisfied.

Annotations

Modifications

C1

S. 81 modified (30.12.2005) by The Occupational Pension Schemes (Cross-border Activities) Regulations 2005 (S.I. 2005/3381), regs. 1, 14, Sch. 2 para. 3

Commencement

I1

Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2

Notes on Chapter I

Modifications

C1

Pt. 4 Ch. 1 modified (1.4.2015) by The Judicial Pensions Regulations 2015 (S.I. 2015/182), reg. 1(4), Sch. 3 para. 5 (with regs. 148, 160, Sch. 3 para. 3)

C2

Pt. 4 Ch. 1 modified (S.) (1.4.2015) by The Teachers’ Pension Scheme (Consequential Provisions) (Scotland) Regulations 2015 (S.S.I. 2015/146), regs. 1(2), 7 (with reg. 5)

C3

Pt. 4 Ch. 1 modified (1.4.2015) by The Firefighters’ Pension Scheme (England) (Consequential Provisions) Regulations 2015 (S.I. 2015/319), regs. 1(2), 7 (with reg. 5)

C4

Pt. 4 Ch. 1 modified (1.4.2015) by The Armed Forces Pension (Consequential Provisions) Regulations 2015 (S.I. 2015/390), regs. 1(2), 7 (with reg. 5)

C5

Pt. 4 Ch. 1 modified (S.) (1.4.2015) by The National Health Service Pension Scheme (Consequential Provisions) (Scotland) Regulations 2015 (S.S.I. 2015/145), regs. 1(2), 7 (with reg. 5)

C6

Pt. 4 Ch. 1 modified (1.4.2015) by The Police Pensions (Consequential Provisions) Regulations 2015 (S.I. 2015/370), regs. 1(2), 7 (with reg. 5)

C7

Pt. 4 Ch. 1 modified (S.) (1.4.2015) by The Police Pensions (Consequential Provisions) (Scotland) Regulations 2015 (S.S.I. 2015/118), regs. 1(2), 7 (with reg. 5)

C8

Pt. 4 Ch. 1 modified (S.) (1.4.2015) by The Firefighters’ Pension Scheme (Consequential Provisions) (Scotland) Regulations 2015 (S.S.I. 2015/117), regs. 1(2), 7 (with reg. 5)

C9

Pt. 4 Ch. 1 modified (1.4.2015) by The Teachers’ Pension Scheme (Consequential Provisions) Regulations 2015 (S.I. 2015/436), regs. 1(2), 7 (with reg. 5)

C10

Pt. 4 Ch. 1 modified (1.4.2015) by The Public Service (Civil Servants and Others) Pensions (Consequential and Amendment) Regulations 2015 (S.I. 2015/372), regs. 1(2), 7 (with reg. 5)

C11

Pt. 4 Ch. 1 modified (1.4.2015) by The National Health Service Pension Scheme (Consequential Provisions) Regulations 2015 (S.I. 2015/432), regs. 1(2), 7

C12

Pt. 4 Ch. 1 modified (W.) (1.4.2015) by The Firefighters’ Pension Scheme (Wales) (Consequential Provisions) Regulations 2015 (S.I. 2015/848), regs. 1(2), 7 (with reg. 5)

C13

Pt. 4 Ch. 1 modified (1.4.2022) by The Judicial Pensions Regulations 2022 (S.I. 2022/319), reg. 1(4), Sch. 3 para. 2 (with reg. 120, Sch. 3 para. 1)