OpenLegislation

Regulation 25 Restriction on transfer of rights under regulation 23 or 24

Original text. Later amendments are not shown.

Notwithstanding anything in any arrangements made or deemed to have been made under regulation 23 or 24 above, the accrued rights under the principal scheme of a scheme member whose service in contracted-out employment by reference to the scheme is terminated before he attains state pensionable age shall not be transferred to any other scheme in accordance with any such arrangements unless—

(a)

the scheme member consents to the transfer; and

(b)

that other scheme is a contracted-out scheme or, if that other scheme is administered wholly or partially outside the United Kingdom, the Occupational Pensions Board approve (whether or not subject to conditions) the arrangements made for the transfer.