# The Contracting-out (Transfer and Transfer Payment) Regulations (Northern Ireland) 1996, Regulation 10: Transfer payments to money purchase contracted-out schemes and appropriate personal pension schemes in respect of section 5(2B) rights

Extent: N.I.
Status: prospective

A transfer payment in respect of an earner’s accrued section 5(2B) rights may be made to a money purchase contracted-out scheme or an appropriate personal pension scheme if—
(a) the earner consents in writing;
(b) the transfer payment is to a money purchase contracted-out scheme, the earner—
(i) is employed by an employer who is a contributor to the receiving scheme, or
(ii) has previously been a member of the receiving scheme, and
(c) the transfer payment is applied so as to provide money purchase benefits under the receiving scheme for, or in respect of, the earner.

---
Source: https://www.legislation.gov.uk/nisr/1996/618/regulation/10 (the official version)
Page: https://openlegislation.uk/contracting-out-transfer-and-transfer-payment-regulations-northern-ireland-1996/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.