# Pension Schemes Act 1993, Section 99A: Trustees' further duties: collective money purchase benefits


(1) If the trustees receive an application under section 95 relating to money purchase benefits that are collective money purchase benefits—
(a) they must give the member notice in writing of the cash equivalent that relates to those benefits, and
(b) they must not without the written consent of the member enter into an agreement with a third party to use the member's cash equivalent in a way specified in section 95(2) before the end of the period mentioned in subsection (2).
(2) The period referred to in subsection (1)(b) is—
(a) the period of 3 weeks beginning with the day after the day on which the notice is given, or
(b) such other period as may be specified in regulations.
(3) Any action taken in contravention of subsection (1)(b) is void.

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Source: https://www.legislation.gov.uk/ukpga/1993/48/section/99A (the official version)
Page: https://openlegislation.uk/pension-schemes-act-1993/section-99A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.