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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 6 April 2015 - onwards
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Article 53E Advising on conversion or transfer of pension benefits

(1) Advising a person ("P") is a specified kind of activity if -

(a) the advice is given to P in P's capacity as -

(i) a member of a pension scheme; or

(ii) a survivor of a member of a pension scheme;

(b) P has subsisting rights in respect of any safeguarded benefits; and

(c) the advice is advice on the merits of P requiring the trustee or manager of the pension scheme to -

(i) convert any of the safeguarded benefits into different benefits that are flexible benefits under the scheme;

(ii) make a transfer payment in respect of any of the safeguarded benefits with a view to acquiring a right or entitlement to flexible benefits for P under another pension scheme; or

(iii) pay a lump sum that would be an uncrystallised funds pension lump sum in respect of any of the safeguarded benefits.

(2) In this article -

"flexible benefit" means -

(a) a money purchase benefit;

(b) a cash balance benefit; or

(c) a benefit, other than a money purchase benefit or cash balance benefit, calculated by refe

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