Annex A - The Pension Schemes (Transfers, Re-organisation and Winding-up)(Transitional Provisions) Order 2006
An earlier draft of this Order (PDF 47K) was published on 21 September 2005. It preserves the protection of certain pre A-Day rights in the event of two particular types of transfer from one pension scheme to another.
- First, any right to take benefits before the normal minimum pension age is protected in the event of a transfer under the TUPE Regulations having taken place between 10 December 2003 and A-Day.
- Second, any right to take benefits before the normal minimum pension age, or to a tax-free lump sum in excess of 25% of uncrystallised rights, is protected in the event of the scheme winding up after A-Day and benefits being secured by an annuity contract.
In response to representations received, the terms of the Order have been slightly extended. Protection of rights to take benefits before the normal minimum pension age is now maintained where a sponsoring employer has reorganised its pension schemes during the period between 10 December 2003 and A-Day. And the protection on the winding-up of a scheme now applies where the winding-up has commenced (but not concluded) before A-Day.
