Open consultation

Bulk transfer of contracted out pension rights without member consent: draft regulations

Summary

The regulations enable bulk transfers of contracted-out rights in certain circumstances without member consent, to schemes that have never been contracted out.

This consultation closes at

Consultation description

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

Documents

The draft Contracting-out (Transfer and Transfer Payment) (Amendment) Regulations 2018: consultation

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Ways to respond

Email to:

contracting.outteam@dwp.gsi.gov.uk

Write to:

Department for Work and Pensions
Contracting-out policy Team
First Floor
Caxton House
Tothill Street
London
SW1H 9NA

Published 21 December 2017