Pensions Act (Northern Ireland) 2015 No. 5

SCHEDULES

SCHEDULE 17 N.I. AUTOMATIC TRANSFER OF PENSION BENEFITS ETC.

Prospective

PART 1 N.I. AUTOMATIC TRANSFER OF PENSION BENEFITS

Information to be given to qualifying members of automatic transfer schemes N.I.

5—(1) The regulations must require a prescribed person to give information to a qualifying member of an automatic transfer scheme who has transferable benefits under another scheme for the purpose of helping the member to decide whether (as applicable)— N.I.

(a) to consent to the giving of a transfer notice in relation to the transferable benefits, or

(b) to opt out of the transfer of the cash equivalent of the transferable benefits.

(2) The information to be given—

(a) must include information about the effect of the regulations, and in particular the member's power to consent or right to opt out (as applicable);

(b) may include other information, for example information about the schemes.