96 Further provisions concerning exercise of option under s 95
Pension Schemes Act 1993 (1993 c 48) | Legislation

96  Further provisions concerning exercise of option under s 95

[(1)     A member who has acquired a right to take a cash equivalent under section 94(1) or (2) may exercise the option conferred by section 95(1) in relation to different portions of that cash equivalent in different ways, but a member who exercises that option must do so—

(a)     in relation to the whole of that cash equivalent, or

(b)     if subsection (2) applies, in relation to the whole of the balance mentioned in subsection (3).]

(2)     This subsection applies where—

(a)     the trustees or managers—

(i)     of an occupational pension scheme . . .,

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