S.I. No. 218 of 2014


Print page

S.I. No. 218 of 2014

 

Occupational Pension Schemes (Preservation of Benefits) (Amendment) Regulations 2014

 

EXPLANATORY NOTE

 

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

 

Section 34 of the Pensions Act provides that a member of a funded scheme who is entitled to a preserved benefit, shall be entitled to the transfer of an amount of money from the scheme by making an application in writing to the trustees of the scheme.

These regulations prescribe that a transfer payment shall be calculated in accordance with guidance issued by the Society of Actuaries in Ireland and by the Pensions Authority. Should a conflict arise with the guidance, the guidance issued by the Pensions Authority shall prevail.

Last modified:27/02/2017