19 Discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts
Pension Schemes Act 1993 (1993 c 48) | Legislation

19  Discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts

(1)     A transaction to which this section applies discharges the trustees or managers of an occupational pension scheme from their liability to provide for or in respect of any person guaranteed minimum pensions—

(a)     if it is carried out not earlier than the time when that person's pensionable service terminates; and

(b)     if and to the extent that it results in guaranteed minimum pensions for or in respect of that person being appropriately secured; and

(c)     if and to the extent that the requirements set out in paragraph (a), (b) or (c) of subsection (5) are satisfied.

(2)

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