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Regulation 8 Transfer payments to salary related contracted-out schemes in respect of section 5(2B) rightsI1

Northern Ireland Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A transfer payment in respect of an earner’s accrued section 5(2B) rights may be made to a salary related contracted-out scheme if—

(a)

the earner consents in writing;

(b)

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 to provide rights for the earner or person concerned which, had they accrued in the receiving scheme, would be provided in accordance with the rules of the receiving scheme relating to earners who are in employment which is contracted-out in relation to the receiving scheme or have been in employment which was so contracted-out.

Annotations

Commencement

I1

Reg. 8 in operation at 6.4.1997, see reg. 1(1)