Pensions Act, 1990

Schemes may provide higher benefits.

39.—Nothing in the other provisions of this Part or in the Second Schedule shall be construed as precluding a scheme from providing benefits, in lieu of preserved benefit, on a higher scale, or payable at any earlier time or otherwise more favourably than is provided for under this Part:

Provided that—

(a) such benefits are of an actuarial value that is equivalent to or greater than that of preserved benefit,

(b) on the death of a member before any such benefit commences to be payable the amount thereof shall not be less than the amount that would, but for this section, have been payable by virtue of section 29 (4) or 30 (3), as appropriate,

(c) a member who is entitled to preserved benefit under this Part shall not be entitled to receive a refund of any contributions paid to the scheme after the commencement of this Part.