Article 14 Amendment of the Occupational Pension Schemes (Transfer Values) Regulations 1996

(1)

The Occupational Pension Schemes (Transfer Values) Regulations 1996^f1 are amended as follows.

(2)

In regulation 1(2) (interpretation), omit the definition of “post-97 protected rights”.

(3)

In regulation 12 (requirements to be met by receiving schemes, annuities and arrangements)—

(a)

after paragraph (1)(b), add “and”, and

(b)

omit paragraph (1)(c), and the word “and” immediately following it.

(4)

In Schedule 1A (reductions in initial cash equivalents)^f2, omit paragraph 9.

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