SCHEDULES

SCHEDULE 17Automatic transfer of pension benefits etc

Part 1Automatic transfer of pension benefits

Transferable benefits scheme to comply with request

6

1

The regulations must require the trustees or managers of a pension scheme who receive a transfer notice requesting the transfer of the cash equivalent of a person's transferable benefits to do what is needed to carry out the request.

2

The regulations may in particular—

a

require the trustees or managers of the scheme to take particular steps to carry out the request;

b

provide for the discharge, in prescribed circumstances, of any obligation to provide the transferable benefits.

3

The regulations may provide for circumstances in which the duty to carry out the request does not apply.