659. In general.

Certain provisions of the Pension Schemes Act 1993 are overriding requirements1 which override any provision of a pension scheme to which they apply to the extent that it conflicts with them2.

Nothing in the provisions relating to contracting out3 precludes an occupational pension scheme from providing benefits that are more favourable than those required for contracting-out purposes4 and nothing in the provisions relating to the revaluation of accrued benefits5 or to transfer rights6 or to cash transfer sums and contribution refunds7 precludes a scheme from being framed or managed more favourably to beneficiaries than is called for by those provisions8.

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