Regulation 10 Amendments to regulation 10 (Inward transfers)

for paragraph (1) substitute—

“(1)

Where a person in pensionable service (P) has been a member of a registered pension scheme or a qualifying recognised overseas pension scheme, P, whether or not P becomes a contributor (within the meaning of these Regulations), may give written notice to the Department that P wishes the Department to accept from the trustees or manager of that scheme a value of the transfer from that scheme.”;

in paragraph (2), for “wishes of the person entering employment in reckonable service” substitute “election made under regulation 4(1)”.

after paragraph (2) insert—

“(3)

A person who has given written notice under paragraph (1) may at any time by giving written notice to the Department require the Department to realise any investment and to re-invest the proceeds under paragraph (2) in a different way.”.