Section 97E Discharge of liability where pension credit or alternative benefits secured by insurance policies or annuity contracts.F1
Northern Ireland
A transaction to which section 15 applies discharges the trustees or managers of a scheme from their liability to provide pension credit benefit or any alternative to pension credit benefit for or in respect of a member of the scheme if and to the extent that—
it results in pension credit benefit, or any alternative to pension credit benefit, for or in respect of the member being appropriately secured (within the meaning of that section),
the transaction is entered into with the consent of the member or, if the member has died, of the member’s widow or widower F2 or surviving civil partner , and
such requirements as may be prescribed are met.
Regulations may provide that subsection (1)(b) shall not apply in prescribed circumstances.
Annotations
Textual amendments
- F1
Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV
- F2
Words in s. 97E(1)(b) inserted (5.12.2005) by Civil Partnership Act 2004 (c. 33), s. 263(10)(b), Sch. 27 para. 149; S.I. 2005/3175, art. 2(2)