Section 29: Alteration
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
29. Alteration
(1) No private pension scheme shall alter its constitutive documents
unless it obtains the approval of the Commission.
(2) A private pension scheme shall not, except with the approval of the
Commission—
(a) reduce or, in any way, alter the pension benefits already accrued
to a beneficiary; or
(b) alter the pension benefits that are not yet accrued.
P32A – 17 [Issue 5]
Private Pension Schemes Act
(3) Where the sponsoring employer of a private pension scheme is
changed, the scheme shall notify the Commission forthwith of the change,
along with the particulars of its assets and liabilities, and the terms of
arrangement for its continuation by the succeeding sponsoring employer.
(4) No private pension scheme shall alter its name without the approval
of the Commission.