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The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2023
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- Northern Ireland Statutory Rules
- 2023 No. 59
- SCHEDULE 5
- Transfer requirements: choice of...
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Transfer requirements: choice of arrangements
10.—(1) The trustees of the applicable scheme must, as soon as reasonably practicable, contact each member whose accrued rights or benefits are to be transferred to that scheme and must invite them to select an arrangement of the applicable scheme into which those rights or benefits are to be transferred.
(2) The accrued rights of members who do not respond to the applicable scheme within 8 weeks after the date on which they received the invitation referred to in sub-paragraph (1) must remain in an arrangement which—
(a)meets the conditions for use as the default arrangement of the applicable scheme, and
(b)complies with Chapter 1(1) (default arrangements, non-contributing members and payments to advisers) of Part 2 (restrictions on charges) of the Charges and Governance Regulations.
(1)
Chapter 1 was inserted by regulation 6(3) of S.R. 2021 No. 272
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