Regulation 16 Transfer payments in respect of safeguarded rights—generalI1
Northern Ireland Not yet in force
A transfer of liability from—
a salary related contracted-out scheme (or a scheme which has ceased to be a salary related contracted-out scheme), or
a money purchase contracted-out scheme or an appropriate scheme (or a scheme which has ceased to be a money purchase contracted-out scheme or an appropriate scheme),
may give effect to the safeguarded rights of a person entitled to a pension credit by the making of a transfer payment to a scheme referred to in paragraph (2).
A transfer payment in respect of safeguarded rights may be made to—
an appropriate scheme;
a money purchase contracted-out scheme;
a salary related contracted-out scheme;
a personal pension scheme which has ceased to be an appropriate scheme, or
an occupational pension scheme which has ceased to be contracted-out,
in accordance with regulations 17 to 19 and no such transfer may be made otherwise.
In this regulation and in regulations 17 to 19 a “transfer payment” means a transfer payment such as is described in this regulation.
Annotations
Commencement
- I1
Reg. 16 in operation at 1.12.2000, see reg. 1(1)