Section 53 Information etc in connection with selection of benefit solutionI1

England, Wales and Scotland

(1)

Regulations may require trustees or managers of a relevant scheme to provide or make available to eligible members, at prescribed times or intervals, information expressed in clear and plain language which would or may assist in—

(a)

the selection of a pension benefit solution, or

(b)

decisions that may need to be made with respect to a pension benefit solution.

(2)

Regulations may require that information provided or made available to a member by virtue of subsection (1) must, as far as possible, be based on information about the member’s circumstances.

(3)

Regulations may require trustees or managers of a relevant scheme to—

(a)

monitor the rate of decumulation under pension benefit solutions used by members, and

(b)

inform the member concerned if the trustees or managers consider that the rate of decumulation should be reviewed.

(4)

Regulations under this section are subject to the affirmative procedure.

Annotations

Commencement

I1: S. 53 in force at Royal Assent for specified purposes, see s. 133(1)