[24B The conversion conditions]
Pension Schemes Act 1993 (1993 c 48) | Legislation

[24B  The conversion conditions]

[(1)     This section specifies the conditions referred to in sections 13(1A) and 17(1A) (for exemption from the requirement to guarantee a minimum pension).

(2)     Condition 1 is that the post-conversion benefits [(disregarding money purchase benefits)] must be actuarially at least equivalent to the pre-conversion benefits [(disregarding money purchase benefits)].

(3)     Condition 2 is that if the earner [P] was entitled immediately before the conversion date to the payment

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