Amendments are made to the pension sharing regulations allowing pension credit benefits to be paid in similar circumstances as apply to “normal” scheme benefits in most pension arrangements. This includes taking benefits early, either as a pension or lump sum, as long as they comply with the Finance Act 2004.

Safeguarded rights are abolished in accordance with s145 Pensions Act 2008 and The Pensions Act 2008 (Abolition of Safeguarded Rights) (Consequential) Order 2009. Former safeguarded rights are to be treated in the same way as any other pension credit benefits.