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We published the government response to this consultation on 26 February 2018.
Read The Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018 on www.legislation.gov.uk.
This consultation seeks views on the Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018. The regulations enable bulk transfers of contracted-out rights to take place in certain circumstances without member consent, to schemes that have never been contracted out. Conditions of the transfer will be that:
- the rights of the member are not adversely affected
- the same protections must be provided by the new scheme
This consultation follows our response to our April 2017 consultation on the Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2017.
The consultation is mainly aimed at:
- pension administrators and employers who sponsor formerly contracted-out defined benefit occupational pension schemes
- those intending to establish new defined benefit schemes
We also welcome comments from:
- the pension industry
- pension schemes trustees and members
- member representative organisations
- any other interested organisations