SCHEDULES
SCHEDULE 17Automatic transfer of pension benefits etc
Part 1Automatic transfer of pension benefits
Right to opt out of automatic transfer
4
1
If the regulations do not include the condition mentioned in paragraph 3(3), they must ensure that where the duty to give a transfer notice has arisen in relation to transferable benefits of a qualifying member of an automatic transfer scheme, the member can opt out of the transfer in accordance with the regulations.
2
The regulations must provide that, where the member does opt out—
a
the duty to give the transfer notice is not to be complied with, and
b
the cash equivalent of the member's transferable benefits is not to be transferred.