# The Contracting-out (Transfer and Transfer Payment) Regulations 1996, Regulation 12: Modifications of Part III of the 1993 Act on transfers of and transfer payments in respect of guaranteed minimum pensions from occupational pension schemes


Where a transfer to ... a salary-related ... scheme, or a transfer payment to an overseas scheme, has taken place from an occupational pension scheme in accordance with regulations 3, 4 or 6 (or with regulation 2 of the Contracting-out (Transfer) Regulations 1985 ), the 1993 Act shall have effect subject to the following modifications—
(a) where the transfer was of the accrued rights to guaranteed minimum pensions of an earner who was in employment which was contracted-out by reference to the receiving scheme, the modification of section 14(1) (earner’s guaranteed minimum) specified in paragraph 3 of Schedule 2;
(b) in the case of any other a transfer of the accrued rights of an earner to guaranteed minimum pensions, the modifications of sections 8(2) (meaning of “guaranteed minimum pension"), 24A(1)(a) (conversion of guaranteed minimum pension into other benefits: introduction) 20(6) (transfer of accrued rights: meaning of “accrued rights") and 159 (inalienability of guaranteed minimum pension and protected rights payments) specified in paragraphs 1, 1A, 4 and 5 of Schedule 2;
(c) in the case of any transfer of the liability for payment of guaranteed minimum pensions to or in respect of a person who had become entitled to them, the modifications of sections 8(2), 24A(1)(a) and 159 specified in paragraphs 1, 1A and 5 of Schedule 2;
(d) in the case of any transfer payment to an overseas scheme in respect of the accrued rights of an earner to guaranteed minimum pensions, the modification of section 46 (effect of entitlement to guaranteed minimum pensions on payment of social security benefits) specified in paragraph 2 of Schedule 2.

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Source: https://www.legislation.gov.uk/uksi/1996/1462/regulation/12 (the official version)
Page: https://openlegislation.uk/contracting-out-transfer-and-transfer-payment-regulations-1996/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.