SCHEDULE 6 Continuity Option 1: transfer out and winding up

Trustee discharge
19 Where the trustees of a collective money purchase scheme that is pursuing continuity option 1 have discharged the scheme’s liability in respect of a beneficiary’s accrued rights to benefits under the scheme in accordance with the requirements of section 87 of the 2021 Act (continuity option 1: discharge of liabilities and winding up), the trustees cease to have any further obligation to provide benefits in relation to those rights.
Sch. 6 para. 19 in operation at 30.1.2023, see reg. 1