97 Calculation of cash equivalents
Pension Schemes Act 1993 (1993 c 48) | Legislation

97  Calculation of cash equivalents

(1)     Cash equivalents are to be calculated and verified[—

(a)]     in the prescribed manner[, and

(b)     where a designation has been made under section 97A or 97B, in accordance with regulations under section 97C].

[(1A)     Where a member applies under section 95 to take a cash equivalent that relates to money purchase benefits, the cash equivalent is to be calculated by reference to the date of the application.]

(2)     Regulations may provide—

(a)     that in calculating cash equivalents [that relate to money purchase benefits] account shall be taken—

(i)     of any surrender, commutation or forfeiture of the whole or part of a member's pension which occurs before the trustees or managers of the scheme of which he is

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