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Pensions Act (Northern Ireland) 2015

Changes over time for: Cross Heading: Automatic transfer scheme to request transfer of cash equivalent

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Pensions Act (Northern Ireland) 2015, Cross Heading: Automatic transfer scheme to request transfer of cash equivalent is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Automatic transfer scheme to request transfer of cash equivalentN.I.

3—(1) The regulations must require the trustees or managers of an automatic transfer scheme to give a transfer notice if—N.I.

(a)they find out that a qualifying member of the scheme has transferable benefits under another pension scheme, and

(b)any other prescribed conditions are met.

(2) A “transfer notice” is a notice given to the trustees or managers of the other pension scheme requesting the transfer of the cash equivalent of the transferable benefits to the automatic transfer scheme.

(3) The conditions that may be prescribed because of sub-paragraph (1)(b) include a condition that the trustees or managers must not give a transfer notice unless the qualifying member consents in accordance with the regulations.

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