Regulation 13 Obligations where there is a pension sharing order or provisionI1
United Kingdom
Where—
a transfer payment has been accepted by a personal pension scheme in the circumstances described in regulation 5(3) (omitting sub-paragraph (b)(ii) and the word “either” preceding sub-paragraph (b)(i)), and
a pension sharing order or provision is subsequently made against the individual in respect of whom the payment was made,
the administrator of the receiving scheme shall recalculate the amount shown on the certificate referred to in regulation 5(2) or (3)(b), according to any debit to which the individual’s rights under the scheme become subject by virtue of that order or provision, and shall prepare and sign a replacement certificate in respect of the individual’s rights remaining after the reduction referred to in section 29 of the 1999 Actf1 or Article 26 of the 1999 Orderf2 has taken place.
Where—
a transfer payment has been accepted by a personal pension scheme in the circumstances described in regulation 5(3) (omitting sub-paragraph (b)(i) and the word “either” which precedes it), and
a pension sharing order or provision is subsequently made against the individual in respect of whom the payment was made,
the administrator of the receiving scheme shall prepare and sign a certificate in respect of the pension credit to which the transferee becomes entitled, showing that no amount may be paid out of the original payment by way of lump sum to the transferee.
Where, after the date which is a member’s pension date in relation to the arrangements in question, a pension sharing order or provision is made against that member, the administrator of the scheme shall prepare and sign a certificate in respect of the pension credit to which the transferee becomes entitled, showing that no amount may be paid out of the pension credit by way of lump sum to the transferee.
The reference in paragraph (1) to a certificate referred to in regulation 5(2) or (3)(b) includes a reference to a certificate given under regulation 4 of the Personal Pension Schemes (Transfer Payments) Regulations 1988f3.
Annotations
Commencement
- I1
Reg. 13 in force at 14.2.2001 for specified purposes and 6.4.2001 in so far as not already in force, see reg. 1(1)
Footnotes
- f1
- f2
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S.I. 1999/3147 (N.I. 11).
- f3