Paragraph 7

Unless the rules make provision such as is mentioned in sub-paragraph (2) below, the protected rights of a member are his rights to money purchase benefits under the scheme.

Rules may provide that a member’s protected rights are his rights under the scheme which derive from any payment of minimum contributions to the scheme, together with any rights of his to money purchase benefits which derive from protected rights under another personal pension scheme or protected rights (within the meaning of the M1Social Security Pensions Act 1975) under an occupational pension scheme which have been the subject of a transfer payment and such other rights as may be prescribed.

Where rules make such provision as is mentioned in sub-paragraph (2) above, they shall also make provision for the identification of the protected rights.

The value of protected rights . . . F1;

The power to make regulations conferred by sub-paragraph (4) above includes power to provide that protected rights . . . are to be calculated and verified in such manner as may be approved in particular cases—

and power to provide that they shall be calculated and verified in accordance with guidance prepared by a prescribed body.