Paragraph 3 Retirement and dependants’ pensions

For regulation 12(5)(d)^f1, substitute—

“(d)

in respect of every pension to be provided, whether the annual rate of the pension—

(i)

is to be fixed,

(ii)

is to vary in accordance with the Index,

(iii)

is to increase yearly by a specified percentage,

(iv)

where the authorised provider offers pensions which vary in accordance with an index of prices other than the Index, is to vary in accordance with the index specified in the notice, or

(v)

is to be an Investment Linked Pension.”.