Paragraph 1
Subject to paragraphs 2 to 4, the receiving scheme must in respect of the rights transferred—
provide for pensions payable at the rates at which guaranteed minimum pensions would have been payable by the transferring scheme if the transfer had not taken place; F1...
contain the same provision for commencement and continuation of payment of those pensions and (if any) for commutation, suspension and forfeiture as for guaranteed minimum pensions provided by the receiving scheme in accordance with F2section 13 or (as the case may be) 17 of the 1993 Act.
comply with sections 13 to 24E of the 1993 Act in respect of accrued rights.
Annotations
Textual amendments
- F1
Word in Sch. 1 para. 1(a) omitted (6.4.2018) by virtue of The Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018 (S.I. 2018/234), regs. 1, 2(7)(b)(i)
- F2
Words in Sch. 1 para. 1(b) substituted (6.4.2018) by The Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018 (S.I. 2018/234), regs. 1, 2(7)(b)(ii)
- F3
Sch. 1 para. 1(c) inserted (6.4.2018) by The Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018 (S.I. 2018/234), regs. 1, 2(7)(b)(iii)
Notes on Part I
Textual amendments
- F1
Sch. 1 Pt. I heading substituted (6.4.2016) by The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(2), 4(11)(a)
- F2
Words in Sch. 1 Pt. I heading omitted (6.4.2018) by virtue of The Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018 (S.I. 2018/234), regs. 1, 2(7)(a)