The Contracting-out (Transfer and Transfer Payment) Regulations 1996

[F1 Transfer payments to occupational and person pension schemes in respect of section 9(2B) rights

10.   A transfer payment in respect of an earner’s accrued section 9(2B) rights may be made to a scheme which is not F2 ... an overseas scheme or overseas arrangement, if—

(a) the earner consents in writing; and

(b) the earner has acknowledged in writing to the transferring scheme that the earner has received a statement from the receiving scheme showing the benefits to be awarded in respect of the transfer payment, and that the earner accepts that—

(i) the benefits to be provided by the receiving scheme may be in a different form and of a different amount to those which would have been payable by the transferring scheme, and

(ii) there is no statutory requirement on the receiving scheme to provide for survivor’s benefits out of the transfer payment.]

Textual Amendments

F1 Reg. 10 substituted (6.4.2012) by The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I. 2011/1245), regs. 1(2), 6(4)

F2 Words in reg. 10 omitted (6.4.2016) by virtue of The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(2), 4(7)