Regulation 7 Amendment of the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987

Regulation 4 of the Personal and Occupational Pension Schemes (Modification of Enactments) Regulations 1987^f1 (which modifies provisions of the Social Security Act 1973) is amended as described in paragraphs (2) to (4) of this regulation.

Paragraph (1) is amended by replacing “and (3)” with “to (5)”.

Paragraph (4) is replaced with the following —

“(4)

Paragraph 9(2)(a) of Schedule 16^f2 shall have effect as if it were replaced with the following —

“(a)

for the member’s accrued rights to be transferred to another occupational pension scheme with a view to acquiring transfer credits for the member under the other scheme, or to a personal pension scheme or a self-employed pension arrangement with a view to acquiring rights for the member under the rules of the scheme or arrangement; or”.”.

The following paragraphs are added at the end —

“(5)

Paragraph 15(3)(b) of Schedule 16 shall have effect as if it were replaced with the following —

“(b)

to acquire for the member transfer credits under the rules of another occupational pension scheme or rights under the rules of a personal pension scheme or a self-employed pension arrangement;”.

(6)

In paragraphs (4) and (5) of this regulation, self-employed pension arrangement' means the same as in regulation 2D of the Occupational Pension Schemes (Transfer Values) Regulations 1985.^f3.”.