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Regulation 2 General

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

A money purchase contracted-out scheme or an appropriate personal pension scheme (or a scheme which was formerly a money purchase contracted-out scheme or an appropriate personal pension 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 accordance with regulations 3 to 5, and in these Regulations a “transfer payment” means a transfer payment such as is described in this regulation.