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The Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations (Northern Ireland) 2015

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Transitional provisions relating to the coming into force of section 51 of the Act

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2.  Section 51 of the Act (independent advice in respect of conversions and transfers: Northern Ireland) does not apply to—

(a)a transfer payment as described in section 51(1) of the Act which is made on or after 6th April 2015 where—

(i)the payment is a result of a member exercising that member’s right to a cash equivalent under section 90 of the 1993 Act (right to cash equivalent), and where the member’s application for a statement of entitlement which gave rise to that right was made before 6th April 2015, or

(ii)before 6th April 2015—

(aa)the trustees or managers have confirmed in writing to the member that they agree in principle to carry out the transfer payment (subject to any relevant statutory requirements and the requirements of the scheme rules being met), or

(bb)the trustees or managers have made an offer in writing to the member of a transfer payment;

(b)a conversion of benefits as described in section 51(1) of the Act which takes place on or after 6th April 2015, where the trustees or managers have provided written confirmation to the member before 6th April 2015 that they will convert the benefits.

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