{
  "url": "https://openlegislation.uk/pension-schemes-act-1993/section-98",
  "json_url": "https://openlegislation.uk/pension-schemes-act-1993/section-98.json",
  "legislation": "ukpga/1993/48",
  "legislation_title": "Pension Schemes Act 1993",
  "legislation_url": "https://openlegislation.uk/pension-schemes-act-1993",
  "path": "section/98",
  "kind": "section",
  "number": "98",
  "heading": "Loss of right to cash equivalent",
  "text": "(1) A member of a pension scheme who acquires the right to take a cash equivalent under section 94(1) loses that right if no application to take the cash equivalent is made within the period required by section 95(1A) or (6A).\n(2) A member of a pension scheme loses the right to take a cash equivalent in accordance with this Chapter if, after the member makes an application under section 95, the duty of the trustees or managers to do what is needed to carry out what the member requires is extinguished by section 99(2ZA) or (2A).\n(3) Nothing in subsection (1) or (2) prevents the member from later acquiring a new right to take a cash equivalent in relation to the same benefits.\n(4) A member of a pension scheme loses the right to take a cash equivalent in accordance with this Chapter if the scheme is wound up.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 98 substituted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 12 (with s. 87)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 98(2) substituted (30.11.2021) by Pension Schemes Act 2021 (c. 1), ss. 125(3), 131(1); S.I. 2021/1236, reg. 2"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 93-101 modified (1.4.1998) by The Local Government Pension Scheme (Scotland) Regulations 1998 (S.I. 1998/366), regs. 1, 116-118"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Ss. 93-98 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"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1993/48/section/98",
    "retrieved_at": "2026-10-29T09:34:33.061575+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."
}