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Regulation 3 Rights which the rules of a scheme may designate as protected rights

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

For the purposes of paragraph 7(2) of Schedule 1 to the Act (scheme rules may provide that a member’s protected rights are rights specified in paragraph 7(2) and such other rights as may be prescribed), the prescribed rights are rights to money purchase benefits which derive from—

(a)

guaranteed minimum pensions under an occupational pension scheme, or guaranteed minimum pensions appropriately secured within the meaning of section 52C of the Social Security Pensions Act 1975, which have been the subject of a transfer payment to the trustees or managers of the scheme;

(b)

in the case of a personal pension scheme, a payment made to the trustees or managers of the scheme in accordance with section 7 of the Act and regulation 3(10) of the Personal and Occupational Pension Schemes (Incentive Payments) Regulations 1987f1; and

(c)

in the case of an occupational pension scheme, a payment of minimum contributions made to the trustees or managers of the scheme in accordance with regulation 14(8) of the Personal Pension Schemes (Appropriate Schemes) Regulations 1987f2.

Annotations

Footnotes

f1

S.I. 1987/1115.

f2

S.I. 1987/1109.