The Contracting-out (Transfer and Transfer Payment) Regulations (Northern Ireland) 1996 No. 618

SCHEDULE 1 Further Conditions for Transfers of Guaranteed Minimum Pensions

Part I Further Conditions for Transfer to a Salary Related Contracted-out Scheme of Accrued Rights to Guaranteed Minimum Pensions where Employee is not in Employment which is Contracted-out by Reference to the Receiving Scheme

1.  Subject to paragraphs 2 to 4, the receiving scheme must in respect of the rights transferred—

(a) provide for pensions payable at the rates at which guaranteed minimum pensions would have been payable by the transferring scheme if the transfer had not taken place, and

(b) contain the same provision for commencement and continuation of payment of those pensions and (if any) for commutation, suspension and forfeiture as for guaranteed minimum pensions provided by the receiving scheme in accordance with sections 9(1) and 13(2).

(1)

Section 9 is amended by paragraph 19 of Schedule 3 to the Pensions (Northern Ireland) Order 1995

(2)

Section 13 is amended by paragraph 22 of Schedule 3 to the Pensions (Northern Ireland) Order 1995