Enhanced protection and transfers made in connection with the winding up of a pension scheme35

1

In the case of an individual who meets the conditions in paragraph (2), paragraph 12 of Schedule 36 (transitional provisions — “enhanced protection”) is modified in accordance with paragraph (3).

2

The conditions are—

  • Condition A

    The individual is one to whom paragraph 12 of Schedule 36 applies.

  • Condition B

    The pension scheme of which the individual is a member makes a recognised transfer of sums or assets to an insurance company pursuant to section 169(1A)24 (permitted transfers).

  • Condition C

    The transfer is made in connection with the winding up of the pension scheme from which the transfer is made.

3

Paragraph 12(8) is modified as follows—

a

after paragraph (a) delete the word “or”; and

b

after paragraph (b) add—

or;

c

the transfer is a recognised transfer pursuant to section 169(1A).