Regulation 3 Protected Persons
The following persons shall be entitled to protection in relation to a relevant scheme except in so far as they cease to be so entitled in any of the circumstances specified in paragraph (2), that is to say—
every person who is or has been a participant in that scheme in consequence of—
the exercise in relation to the scheme of an option conferred on him by virtue of paragraph 3(2) of Schedule 5 to the Act;
regulation 11; or
the performance of a duty placed on an employer to provide the scheme by virtue of regulation 8 or 9;
and
every person who has pension rights under the scheme in consequence of the death of a person falling within sub-paragraph (a) above; but a person shall not be entitled to protection by virtue of sub-paragraph (b) above except as respects the pension rights in respect of which he falls within that sub-paragraph.
The circumstances mentioned in paragraph (1) above are as follows—
where any person entitled by virtue of paragraph (1)(a) or (b) to protection in relation to a relevant scheme elects under regulation 14 that he is to cease to be entitled to that protection;
where, except as provided in paragraph (3)(b) or (c), any person entitled by virtue of paragraph (1)(a) to protection in relation to a relevant scheme at any time
ceases to be in continuous employment; or
withdraws from that scheme other than at the requirement of his employer and in either such case that person shall cease to be entitled to that protection except as respects pension rights which have accrued to him before that time;
where any person entitled by virtue of paragraph (1)(a) to protection in relation to a relevant scheme exercises a right to require a transfer payment to be made representing the cash equivalent of all or any part of his accrued pension rights from the relevant scheme to another scheme other than another relevant scheme provided by his employer, except in respect of the accrued pension rights not included in the cash equivalent represented by the transfer payment. For the purposes of this sub-paragraph the words “cash equivalent” have the same meaning as in Chapter IV of Part IV of the Pension Schemes Act 1993f1.
A person shall not cease to be a protected employee—
if, after ceasing to participate in a relevant scheme as a protected employee, he subsequently participates in another relevant scheme as a protected employee and has not, during the period in which he did not participate, ceased to be in continuous employment;
if he would have ceased to be a protected employee as a result of a representation by or on behalf of his employer or prospective employer that the action by that person which would but for this sub-paragraph have caused him to cease to be a protected employee would not have that effect; or
if, following any partial or total winding up of the scheme in which that person participates, he transfers to the relevant scheme provided under regulation 8 or 9.
Annotations
Footnotes
- f1