Policy schemes
29. Any agreement or trust deed made for the purposes of any scheme of superannuation by policies of insurance by an authority employing a transferred employee and having effect immediately prior to his transfer shall, so far as it relates to that employee, have effect thereafter as if it had been made with the authority whose employment the transferred employee enters in consequence of the Act; and any policies of insurance which are held for the purposes mentioned in this article for the benefit of any transferred employee by such first mentioned authority shall vest in such second mentioned authority.