Regulation 3 Indexation of occupational pensions derived from the acceptance of payments from insurance policies and annuity contracts: transfers made before 6th April 2005F4

F2Subject to paragraph (2) of this regulationwhere a person’s accrued rights to a pension payable under an occupational pension scheme to which section 51 of the Act applies, or any part of them, derive from the acceptance by the scheme of a payment from a policy of insurance or annuity contract in respect of rights which were subject to the indexation requirement, or to the requirements of section 162 of the Act, in any pension scheme of which that person has previously been a member, subsections (2) and (3) of section 51 of the Act shall apply to such part of that pension as is attributable to those rights as if they were attributable to pensionable service or to payments in respect of employment on or after the appointed day.

Paragraph (1) of this regulation shall not apply in any case where the payment from the policy of insurance or annuity contract referred to in that paragraph is made on or after 6th April 2005.