Regulation 8 Member’s rights to transfer or buy-out

After regulation M1(1) insert–

“(1A)

Paragraph (1) only applies if the member–

(a)

leaves pensionable employment with a preserved pension before reaching age 60, or age 59 where paragraph (3)(b) applies; or

(b)

leaves pensionable employment on the transfer of his employment to a new employer as a result of a transfer of an undertaking to that employer.”.