# The Personal Pension Schemes (Personal Pension Protected Rights Premiums) Regulations 1987, Regulation 5: Time for payment of a premium


(1) Subject to paragraph (3), any premium which is payable shall be paid on or before whichever is the later of the following days—
(a) the day 6 months after the day on which the Board certify under regulation 4(2) or (3) that the protected rights in question are not subject to approved arrangements or have ceased to be so subject; and
(b) the day one month after the day on which the Secretary of State sends to the person liable to pay the premium a notice certifying that the premium is payable.
(2) Subject to paragraph (3), in cases where a premium has become payable by reason of the fact that a scheme has ceased to be appropriate and an earner’s protected rights are, in part only, subject to approved arrangements under section 5 of the Act, the premium shall be paid on or before whichever is the later of the following days—
(a) the day 6 months after the day on which the Board certify under regulation 4(2) or (3) that the protected rights in question are, in part only, subject to approved arrangements; and
(b) the day one month after the day on which the Secretary of State sends to the person liable to pay the premium a notice certifying that the premium is payable.
(3) On application made to him for that purpose the Secretary of State may, in any particular case or class of case, extend the period within which, under paragraph (1) or (2), a premium is required to be paid—
(a) by up to 6 months if he is satisfied that the circumstances are such that payment of the premium could not reasonably be required to be made within that period; and
(b) by such further period as he considers reasonable if he is satisfied that to require earlier payment of the premium would be prejudicial to the interests of the person in respect of whom the premium is payable or of the generality of members of the scheme.

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Source: https://www.legislation.gov.uk/uksi/1987/1111/regulation/5 (the official version)
Page: https://openlegislation.uk/personal-pension-schemes-personal-pension-protected-rights-premiums-regulations-1987/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.