{
  "url": "https://openlegislation.uk/social-security-pensions-act-1975/schedule-1A/paragraph-12",
  "json_url": "https://openlegislation.uk/social-security-pensions-act-1975/schedule-1A/paragraph-12.json",
  "legislation": "ukpga/1975/60",
  "legislation_title": "Social Security Pensions Act 1975",
  "legislation_url": "https://openlegislation.uk/social-security-pensions-act-1975",
  "path": "schedule/1A/paragraph/12",
  "kind": "paragraph",
  "number": "12",
  "heading": null,
  "text": "(1) Subject to the following provisions of this Schedule, a member acquires a right, when his pensionable service terminates, to the cash equivalent at the relevant date of any benefits—\n(a) which have accrued to or in respect of him under the applicable rules; . . .\n(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(2) In this paragraph “the applicable rules” means—\n(a) the rules of the scheme, except so far as—\n(i) section 41A or 41B above; or\n(ii) Part I of this Schedule,\noverrides them; and\n(b) any provision which the rules of the scheme do not contain but which a scheme must contain if it is to conform with the preservation requirements; and\n(c) any provision—\n(i) of section 41A or 41B above; or\n(ii) of Part I of this Schedule,\nwhich overrides any of the rules of the scheme;\n“the relevant date” means , subject to regulations under sub-paragraph (2C) below, the date when the member’s pensionable service terminates or the date of the relevant application, whichever is the later; and\n“the relevant application” means any application which the member has made under paragraph 16 below and which he has not withdrawn.\n(2A) Where a member continues in employment to which a scheme applies after his pensionable service in that employment terminates—\n(a) if regulations so provide, he only acquires a right to the cash equivalent of such part of the benefits specified in sub-paragraph (1) above as may be prescribed; and\n(b) if regulations so provide, he acquires no right to a cash equivalent.\n(2B) Regulations may provide for the purposes of sub-paragraph (2A) above that in prescribed circumstances a number of employments (whether or not consecutive) shall be treated as a single employment.\n(2C) Regulations—\n(a) may provide that a right at the relevant date to the cash equivalent of any part of the benefits specified in sub-paragraph (1) above which but for regulations under the foregoing provisions of this paragraph a member would have on the termination of his pensionable service in an employment to which a scheme applies shall, if his employment terminates at least one year before normal pension age, accrue to him on the date when it terminates and be valued accordingly; and\n(b) may substitute, in relation to any case to which the regulations apply—\n(i) a new definition of the “relevant date” for the definition in sub-paragraph (2) above, and\n(ii) a new definition of “the last option date” for the definition in paragraph 15(2) below.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . in sub-paragraph (2) above “the preservation requirements” means the requirements set out in Part I of Schedule 16 to the Social Security Act 1973 as the requirements of Part II of that Act relating to preservation of benefit under occupational pension schemes.\n(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 1A para. 12(1)(b) and word “or” preceding it repealed (with effect from 28.2.1991) by Social Security Act 1990 (c. 27), Sch. 4, para. 5(4)(c)(iii) and Sch. 7"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words inserted (with effect from 6.4.1988) by Social Security Act 1988 (c. 7), Sch. 2, para. 3(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 1A paras. 12(2A) and (2B) inserted (with effect from 6.4.1988) by Social Security Act 1986 (c. 50), Sch. 10, para. 30(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Sch. 1A para. 12(2C) inserted (with effect from 6.4.1988) by Social Security Act 1988 (c. 7), Sch. 2, para. 3(b)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words repealed restrospectively by Social Security Act 1986 (c. 50), Sch 10, para. 30(b)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Sch. 1A para. 12(4) repealed restrospectively by Social Security Act 1986 (c. 50), Sch 10, para. 30(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Under reg. 3(10) of S.I. 1987/1116, Sch. 1A para. 12 has effect (27.7.1987) in relation to personal pension schemes as modified by para. 8 of Sch. 4 to that S.I."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1975/60/schedule/1A/paragraph/12",
    "retrieved_at": "2026-10-29T10:36:35.649726+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."
}