Part IITransfers of, and Transfer Payments in respect of, Guaranteed Minimum Pensions
Transfers of guaranteed minimum pensions to salary related contracted-out schemes3.
A transfer may be made to a salary related contracted-out scheme if—
(a)
the earner or person concerned consents in writing;
(b)
in the case of a transfer of the accrued rights of an earner—
(i)
the earner is employed by an employer who is a contributor to the receiving scheme, or
(ii)
the earner has previously been a member of the receiving scheme;
(c)
in the case of a transfer of the accrued rights of an earner who is not in employment which is contracted-out by reference to the receiving scheme, the conditions specified in paragraphs 1 to 4 of Schedule 1 are satisfied, unless the transfer is from an appropriate policy in which case the condition set out in paragraph 5 of Schedule 1 must be satisfied;
(d)
(e)
in the case of a transfer of liability for the payment of guaranteed minimum pensions to, or in respect of, a person who has become entitled to them, the transfer is from a scheme and the conditions set out in paragraph 6 of Schedule 1 are satisfied.