SCHEDULE 1 MISCELLANEOUS AMENDMENTS

The Protected Rights (Transfer Payment) Regulations 19966

1

The Protected Rights (Transfer Payment) Regulations 1996 M1 shall have effect with the following amendments.

2

In regulation 1(2)—

a

at the end of the definition of “overseas scheme" add the words “ by virtue of section 52(1) of that Act ”; and

b

for the definition of “section 9(2B) rights" substitute—

“section 9(2B) rights" are—

a

rights to the payment of pensions and accrued rights to pensions (other than rights attributable to voluntary contributions) under a scheme contracted-out by virtue of section 9(2B) of the 1993 Act, so far as attributable to an earner’s service in contracted-out employment on or after the principal appointed day; and

b

where a transfer payment has been made to such a scheme, any rights arising under the scheme as a consequence of that payment which are derived directly or indirectly from—

i

such rights as are referred to in sub-paragraph (a) under another scheme contracted-out by virtue of section 9(2B) of that Act; or

ii

protected rights under another occupational pension scheme or under a personal pension scheme attributable to payments or contributions in respect of contracted-out employment on or after the principal appointed day;

3

At the end of regulation 4(e) add the words “ on or after the principal appointed day ”.