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Statutory Instruments
1994 No. 1751
PENSIONS
The Protected Rights (Transfer Payment) Amendment Regulations 1994
Made
4th July 1994
Laid before Parliament
8th July 1994
Coming into force
29th July 1994
The Secretary of State for Social Security, in exercise of the powers conferred by sections 28(2)(b) and 182(2) and (3) of the Pension Schemes Act 1993(1), and of all other powers enabling him in that behalf, after considering the report of the Occupational Pensions Board on the proposals made to them(2), hereby makes the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Protected Rights (Transfer Payment) Amendment Regulations 1994 and shall come into force on 29th July 1994.
Amendment of Schedule 1 to the Protected Rights (Transfer Payment) Regulations 1987
2. In Schedule 1 to the Protected Rights (Transfer Payment) Regulations 1987(3) at the end of paragraphs 2, 3 and 4 there shall be added the words "or the member has previously been a member of the receiving scheme.".
Signed by authority of the Secretary of State for Social Security.
William Hague
Parliamentary Under-“Secretary of State,
Department of Social Security
4th July 1994
Explanatory Note
(This note is not part of the Regulations)
These Regulations amend the Protected Rights (Transfer Payment) Regulations 1987. They make provision so as to allow, in certain circumstances, the transfer of a person's protected rights into an occupational pension scheme in respect of which that person has previously been a member even though he is not entering employment in relation to that scheme.
The report of the Occupational Pensions Board on the draft of these Regulations which was referred to them is contained in Command Paper Cm. 2620 published by Her Majesty's Stationery Office.
These Regulations do not impose any costs on business.
1993 c. 48. Seedefinitions of "prescribe" and "regulations" in section 181(1).
Seesection 185 of the Pension Schemes Act 1993 (c. 48).