The Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997

Interim arrangements

6.  For the purposes of section 24(1A) (in the case of a personal pension scheme effect may be given to protected rights by the making of payments under an interim arrangement which among other things satisfies such conditions as may be prescribed) the prescribed conditions are that—

(a) payments are to be made to the member throughout the interim period at monthly intervals unless, subject to section 24A(1) (payments to be made at intervals not exceeding 12 months), the member elects for those payments to be made less frequently than by monthly payments;

(b) the interim arrangement provides for the member to be able to elect to terminate the interim arrangement at any time during the interim period; and

(c) the interim arrangement provides for, in the event of the death of an unmarried member or, where section 24A(2) would apply, the death of the widow or widower, the balance of the value of the protected rights to be paid to any person in accordance with directions given by that member, widow or widower in writing, or where no such directions are given, to his or her estate.