25 Transfer rights
Pension Schemes Act 2021 (2021 c 1) | Legislation

25  Transfer rights

(1)     Chapter 1 of Part 4ZA of the Pension Schemes Act 1993 (transfer rights: general) is amended as follows.

(2)     In section 93 (scope of Chapter 1)—

(a)     in subsection (7) (crystallisation events), in paragraph (b), after “money purchase benefits” insert “other than collective money purchase benefits”;

(b)     after subsection (10) insert—

“(10A)     Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated as a separate scheme for the purposes of this Chapter.”

(3)     In section 97 (calculation of cash equivalents), after subsection

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