UK Statutory Instrument
1996
United Kingdom
Occupational Pension Schemes (Transfer Values) Regulations 1996
At a glance
Enforced by
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 29 other Schedules — structural / supplementary
Whether any transfer value (not being a cash equivalent within...
Where information is made available under paragraph 1 or 2...
Where information is made available under this Schedule to a...
In a case where two or more paragraphs of this...
Where all or any of a member’s benefits have been...
For the purposes of paragraph 10, “appropriately secured” means the...
Where a scheme has (in the case of a cash...
If, by virtue of regulations made under section 73B(4)(b)(i) of...
Where all or any of the benefits to which an...
The trustees may reduce an initial cash equivalent to reflect...
In the case of a scheme to which Part 3...
The insufficiency conditions are that the last insufficiency report shows...
If the insufficiency conditions are met the trustees may reduce,...
The deficiency percentage for any such part of a member’s...
If, by virtue of regulations made under section 232 of...
In a case where a contributions equivalent premium has been...
Where— (1) The cash equivalent shown in a member’s statement...
Reductions in initial cash equivalents
Where the trustees have requested an insufficiency report under regulation...
The insufficiency report must contain— (a) a comparison, as at...
The actuary may deduct from the assets of the scheme...
Where it appears to the actuary that the circumstances are...
Where rights under an insurance policy are excluded under paragraph...
The value of any rights under an insurance policy included...
The insufficiency report liabilities are— (a) for active members with...
When preparing the insufficiency report— (a) the actuary must make...
In this Schedule— “relevant assets” means, subject to paragraphs 2(b)...
In the case of an application such as is mentioned...
Browse 27 other sections — procedural / definitional / commencement
Citation, commencement and interpretation
Salary related schemes
Pre-1986 leavers
Collective money purchase schemes during winding-up
Rules on continuation in employment after termination of pensionable service
Right to further cash equivalent on termination of employment to which the scheme applies
Treatment of a number of employments as a single employment
Manner of calculation and verification of cash equivalents - general provisions
Manner of calculation of initial cash equivalents for salary related benefits other than cash balance benefits not calculated by reference to final salary
Initial cash equivalents for salary related benefits other than cash balance benefits not calculated by reference to final salary: assumptions and guidance
Manner of calculation of initial cash equivalents for money purchase benefits (other than collective money purchase benefits) and cash balance benefits not calculated by reference to final salary
Reductions to initial cash equivalents
Alternative manner of calculating and verifying cash equivalents
Manner of calculation of initial cash equivalents for collective money purchase benefits
Increases and reductions of cash equivalents shown in the statement of entitlement
Increases of cash equivalents on late payment
Disclosure
Requirements to be met by receiving schemes, annuities and arrangements
Extension of time limits for payment of cash equivalents
Extension of time within which member may exercise option to take a cash equivalent shown in the statement of entitlement
Cases where normal pension age is earlier than 60
Accrued rights, or liabilities in respect of accrued rights, transferred without consent
Schemes with an overseas element
Termination of pensionable service in certain circumstances to be disregarded
Hybrid schemes
Maximum penalty under section 10 of the 1995 Act
Revocations and transitional provisions
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
The Pensions Regulator
Regulates workplace pensions, defined benefit schemes, and master trusts. All employers must auto-enrol eligible workers into a workplace pension. Enforces employer duties …
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