# The Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1996, Regulation 4: Transfer payments to salary related contracted-out schemes


A transfer payment may be made to a salary related contracted-out scheme if—
(a) the member consents in writing;
(b) the transfer payment (or, if it forms part of a larger payment giving effect to both protected and other rights, that part of it which gives effect to protected rights) is of an amount at least equal to the cash equivalent of the protected rights to which effect is being given, as calculated and verified in a manner consistent with regulations made under section 93;
(c) the member—
(i) is employed by an employer who is a contributor to the receiving scheme, or
(ii) has previously been a member of the receiving scheme;
(d) where the transfer payment or any part of it gives effect to pre-97 protected rights, the receiving scheme, in consequence of that payment (or, where only part of it gives effect to such rights, of that part), provides for the member and the member’s widow or widower to be entitled, without prejudice to any other rights which the member receives under that scheme, to guaranteed minimum pensions equal to those to which they would have been treated as entitled by virtue of—
(i) section 43(2) or (5) (further provisions concerning entitlement to guaranteed minimum pensions for the purposes of section 42), or
(ii) section 44(2) (reduced benefits where minimum payments or minimum contributions paid),
had the transfer payment not been made, except that the receiving scheme may make provision that any earnings factor of the member is to be revalued in accordance with section 12(2) (revaluation of earnings factors for purposes of section 10: early leavers, etc.), as modified by regulation 6, and
(e) where the transfer payment or any part of it gives effect to post-97 protected rights, the transfer payment (or, where only part of it gives effect to post-97 protected rights, that part) is applied to provide rights for the member which, had they accrued in the receiving scheme, would be provided in accordance with the rules of the receiving scheme relating to earners who are in employment which is contracted-out in relation to the receiving scheme or have been in employment which was so contracted-out.

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Source: https://www.legislation.gov.uk/nisr/1996/509/regulation/4 (the official version)
Page: https://openlegislation.uk/protected-rights-transfer-payment-regulations-northern-ireland-1996/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.