Amendment to regulation 53 of the principal Regulations4

1

In regulation 53(1) (Member’s right to transfer or buy out) the words “with a preserved pension before reaching age 60” shall be omitted.

2

After regulation 53(1) there shall be inserted the following paragraph –

1A

Paragraph (1) only applies if the member –

a

leaves superannuable employment with a preserved pension before reaching age 60, or

b

leaves superannuable employment on the transfer of his employment to a new employer as a result of a transfer of an undertaking to that employer.