Schedule 6 Continuity Option 1: transfer out and winding up

1. Definitions
2. Alternative ways of discharging the scheme’s liability
3. Requirements of rules of scheme
4. Winding-up commencement time
5. Quantification of the value of beneficiaries’ accrued rights to benefits
6. Winding-up period
7. Periodic income
8. Information about periodic income
9. Scheme to continue to be a CMPS during winding-up
10. Trustees’ notice to employers
11. Notification to receiving scheme
12. Trustees’ first notice to beneficiaries in respect of discharge options
13. Trustees’ second notice to beneficiaries in respect of discharge options
14. Beneficiaries’ response to trustees
15. Notice of expected discharge time
16. Trustees’ powers
17. Trustees’ duty to transfer
18. Administration charges
19. Trustee discharge
20. Winding up
21. Regulator’s power to direct
22. Civil penalties