{
  "url": "https://openlegislation.uk/personal-and-occupational-pension-schemes-modification-of-enactments-regulations-1987/schedule-4/paragraph-3",
  "json_url": "https://openlegislation.uk/personal-and-occupational-pension-schemes-modification-of-enactments-regulations-1987/schedule-4/paragraph-3.json",
  "legislation": "uksi/1987/1116",
  "legislation_title": "The Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987",
  "legislation_url": "https://openlegislation.uk/personal-and-occupational-pension-schemes-modification-of-enactments-regulations-1987",
  "path": "schedule/4/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "In paragraph 5—\n(a) in sub-paragraph (3), the omission of “if the revaluation condition is satisfied,”; and\n(b) the substitution, for sub-paragraph (4), of the following sub-paragraph—\n“(4) The trustees and managers of a personal pension scheme may, when providing a pension or other retirement benefit under sub-paragraph (3) above, deduct a sum which does not exceed—\n(a) the actual administrative expenses of doing so, or, if it is less,\n(b) the amount of the administrative expenses which would have been incurred in providing a money purchase benefit for the same member if contributions had not ceased to be paid to the scheme in respect of him.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1988/1016",
      "affecting_title": "The Personal and Occupational Pension Schemes (Transfer to Self-employed Pension Arrangements) Regulations 1988"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/1116/schedule/4/paragraph/3",
    "retrieved_at": "2026-10-29T16:24:47.200898+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."
}