{
  "url": "https://openlegislation.uk/pension-sharing-pension-credit-benefit-regulations-northern-ireland-2000/regulation-29",
  "json_url": "https://openlegislation.uk/pension-sharing-pension-credit-benefit-regulations-northern-ireland-2000/regulation-29.json",
  "legislation": "nisr/2000/146",
  "legislation_title": "The Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000",
  "legislation_url": "https://openlegislation.uk/pension-sharing-pension-credit-benefit-regulations-northern-ireland-2000",
  "path": "regulation/29",
  "kind": "regulation",
  "number": "29",
  "heading": "Increases of cash equivalents on late payment",
  "text": "(1) Subject to paragraph (2), if the trustees or managers of a scheme, having received an application under section 97F(1) (power to give transfer notice), fail to comply with the transfer notice within 6 months of the valuation date, the eligible member’s cash equivalent, as calculated in accordance with regulations 24, 27 and 28, shall be increased by the amount, if any, by which that cash equivalent falls short of what it would have been if the valuation date had been the date on which the trustees or managers carry out what the eligible member requires.\n(2) If the trustees or managers of a scheme, having received an application under section 97H, fail without reasonable excuse to do what is needed to carry out what the eligible member requires within 6 months of the valuation date, the eligible member’s cash equivalent, as calculated in accordance with regulations 24, 27 and 28, shall be increased by—\n(a) the interest on that cash equivalent calculated on a daily basis over the period from the valuation date to the date on which the trustees or managers carry out what the eligible member requires, at an annual rate of one per cent. above base rate, or, if it is greater,\n(b) the amount, if any, by which that cash equivalent falls short of what it would have been if the valuation date had been the date on which the trustees or managers carry out what the eligible member requires.",
  "extent": "N.I.",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 29 in operation at 1.12.2000, see reg. 1(1)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "coming into force",
      "affecting": "nisr/2000/146",
      "affecting_title": "The Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000"
    },
    {
      "type": "words omitted",
      "affecting": "nisr/2016/172",
      "affecting_title": "The Pension Sharing (Miscellaneous Amendments) Regulations (Northern Ireland) 2016"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/2000/146/regulation/29",
    "retrieved_at": "2026-10-29T02:15:46.471802+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."
}