Regulation 8 Partial winding up

If an employer who participates in a New Scheme or an alternative scheme as respects a protected person ceases to be permitted to participate in the scheme (except in the event of the employer entering into liquidation) he shall forthwith notify that protected person of the new arrangements he proposes to make and as soon as practicable provide an alternative scheme for the purposes of the protection of that protected person to which he is entitled by virtue of paragraph 4 of Schedule 5 to the Act and enable that protected person to participate in the alternative scheme in place of his participation in the New Scheme or alternative scheme, as the case may be, not later than the date on which the employer ceases to participate in the New Scheme or alternative scheme.

The future pension rights to be provided by the alternative scheme for the protected person where his participation in the alternative scheme is in place of his participation in a New Scheme shall be no worse than the future pension rights provided for him under the New Scheme immediately prior to the date upon which the protected person ceased to participate in that Scheme and where his participation in the alternative scheme is in place of his participation in an alternative scheme shall be no worse than those required to be provided for that protected person by these Regulations under the alternative scheme which is replaced.