Automatic Enrolment Retirement Savings System Act 2024
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PART 5 Payment out of Accounts | ||
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Chapter 1 Interpretation and general | ||
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Interpretation (Part 5) | ||
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78. In this Part— | ||
“balance” means the amount credited to a participant’s account under section 82 (1) or section 86 (1)(c); | ||
“personal representative” has the same meaning as it has in the Succession Act 1965 ; | ||
“redemption value” in relation to units in an AE provider scheme on any date means— | ||
(a) where the units are redeemed on that date, the amount of the proceeds of the redemption, and | ||
(b) where the units are redeemed after that date, the amount determined to be their value on that date by procedures specified by the Authority and published by it on a website maintained by or on behalf of the Authority. |