# The Protected Rights (Transfer Payment) Regulations 1987, Regulation 2: Transfer payments giving effect to protected rights


(1) Subject to regulation 3 (requirements to be satisfied by certain specified receiving schemes), a paying scheme may give effect to the protected rights of a member by the making of a transfer payment —
(a) to an appropriate personal pension scheme; or
(b) to an occupational pension scheme,
in the circumstances and subject to the conditions mentioned in paragraphs (2) to (7), and in these Regulations a “transfer payment” means a transfer payment such as is described in this paragraph.
(2) A transfer payment may be made to an appropriate personal pension scheme in the circumstances described in paragraph 1 of Schedule 1, and on the condition specified in paragraph 1 of Schedule 2.
(3) A transfer payment may be made to a money purchase contracted-out scheme in the circumstances described in paragraphs 1 and 2 of Schedule 1, and on the condition specified in paragraph 1 of Schedule 2.
(4) A transfer payment may be made to a section 49 money purchase scheme in the circumstances described in paragraphs 1 and 3 of Schedule 1, and on the conditions specified in paragraphs 1 and 2 of Schedule 2.
(5) A transfer payment may be made to a salary related contracted-out scheme in the circumstances described in paragraphs 1, 2 and 5 of Schedule 1, and on the condition specified in paragraph 1 of Schedule 2.
(6) A transfer payment may be made to a section 49 salary related scheme in the circumstances described in paragraphs 1, 3 and 5 of Schedule 1, and on the conditions specified in paragraphs 1 and 2 of Schedule 2.
(7) A transfer payment may be made to an overseas scheme in the circumstances described in paragraphs 1 and 4 of Schedule 1, and on the conditions specified in paragraphs 1 and 2 of Schedule 2.
(8) References in Schedules 1 to 3 to “the member” are references to a member referred to in paragraph (1).

---
Source: https://www.legislation.gov.uk/uksi/1987/1118/regulation/2 (the official version)
Page: https://openlegislation.uk/protected-rights-transfer-payment-regulations-1987/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.