F1Part 7AUnilateral changes to pension schemes
117CEffect of transfer of pension pot on membership of scheme etc
(1)
This section applies where a pension pot is transferred under section 117B(1)(c) or (d) to a different pension scheme (“the receiving scheme”).
(2)
The individual—
(a)
becomes a member of the receiving scheme in relation to the pot, and
(b)
in a case in which there is more than one arrangement under the receiving scheme, becomes, in relation to the pot, a member of the arrangement specified in the unilateral change notice under section 117F(3)(b),
and acquires the rights, and becomes subject to the obligations, of membership.
(3)
Where being a member of the receiving scheme in relation to the pot, or of the arrangement under the receiving scheme under which the pot is to be held, entails being a party to a contract with the provider of the receiving scheme, a contract is treated as entered into between the individual and the provider—
(a)
at the time at which the pension pot is transferred to the receiving scheme, and
(b)
on the terms communicated to the individual in the unilateral change notice under section 117F(3)(c).