{
  "url": "https://openlegislation.uk/occupational-pension-schemes-master-trusts-regulations-2018/schedule-5/paragraph-12",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-master-trusts-regulations-2018/schedule-5/paragraph-12.json",
  "legislation": "uksi/2018/1030",
  "legislation_title": "The Occupational Pension Schemes (Master Trusts) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/occupational-pension-schemes-master-trusts-regulations-2018",
  "path": "schedule/5/paragraph/12",
  "kind": "paragraph",
  "number": "12",
  "heading": null,
  "text": "(1) Where the trustees cannot identify a scheme which they consider appropriate for use as a default scheme in respect of a member of the transferring scheme, the trustees may make arrangements to transfer that member’s accrued rights and benefits to a vehicle which will secure suitable benefits for the member that are comparable to those in the transferring scheme.\n(2) Before making arrangements under sub-paragraph (1), the trustees must notify the members to whom the arrangements relate of their intention to do so.\n(3) The arrangements permitted by sub-paragraph (1) are the purchase of one or more policies from one or more insurers authorised by the Financial Conduct Authority for carrying on long-term insurance business in the United Kingdom.\n(4) A transfer under sub-paragraph (1) is prescribed for the purposes of section 73(4)(b) of the 1993 Act (form of short service benefit and its alternatives).",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 5 para. 12 in force at 1.10.2018, see reg. 1(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2018/1030/schedule/5/paragraph/12",
    "retrieved_at": "2026-10-28T22:53:51.683386+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}