SCHEDULES
SCHEDULE 17

Automatic transfer of pension benefits etc
Part 1

Automatic transfer of pension benefits

Automatic transfer scheme to use cash equivalent to provide rights under the scheme
7
1
The regulations must require the trustees or managers of an automatic transfer scheme to whom the cash equivalent of a person's transferable benefits is transferred to use the cash equivalent to provide rights for the person under the scheme.
2
The regulations may make provision about how that is to be done and in particular about—
a
the nature and value of the rights to be provided;
b
calculating and verifying the value of the rights to be provided.