Appendix II Guidance Notes Criteria for the exercise by the Pensions Authority (the of its “Authority”) function article 3(1)(b) of the Occupational Pension Schemes (Preservation of Benefits) Regulations, 2002, as amended (S.I. No. 279 of 2002) (the Regulations”) “Preservation The Authority will take into account, subject to the exercise by the Authority, where possible, of flexibility and judgement having regard to the circumstances of each application received, the following guidelines in determining, under article 3(1)(b) of the Preservation Regulations, that a transfer payment from the scheme, without the consent of the member concerned, should be effected by the trustees of the scheme: A period of at least 2 years should have elapsed since the date of termination of the member’s relevant employment. The trustees should have already written to members seeking the members’ consent to the transfer of the members’ preserved benefit (to another scheme or to an approved insurance policy or contract). This letter must also include the following: notification to members of any option available to members under section 34(3) of the Act in respect of a transfer payment; notification to members that in the event of members not consenting to the transfer, the trustees are considering applying to the Authority for a determination that would result in the member’s benefits being transferred out of the relevant scheme, notwithstanding their lack of consent; and notification to members that they have 30 days to make written observations to the trustees on the proposed application to the Authority which the trustees must give due consideration to before making any final decision on whether to apply to the Authority. The written notice at 2 above should be given by delivering the notice to the person to whom it relates, or sending it by post in a prepaid registered letter addressed to such person at the address at which he or she ordinarily resides. Please note that the trustees will not be deemed to have satisfied the notification requirement where a letter is returned as undelivered.
Appendix II Guidance Notes Criteria for the exercise by the Pensions Authority (the “Authority”) of its function article 3(1)(b) of the Occupational Pension Schemes (Preservation of Benefits) Regulations, 2002, as amended (S.I. No. 279 of 2002) (the “Preservation Regulations”) The Authority will take into account, subject to the exercise by the Authority, where possible, of flexibility and judgement having regard to the circumstances of each application received, the following guidelines in determining, under article 3(1)(b) of the Preservation Regulations, that a transfer payment from the scheme, without the consent of the member concerned, should be effected by the trustees of the scheme: A period of at least 2 years should have elapsed since the date of termination of the member’s relevant employment. The trustees should have already written to members seeking the members’ consent to the transfer of the members’ preserved benefit (to another scheme or to an approved insurance policy or contract). This letter must also include the following: notification to members of any option available to members under section 34(3) of the Act in respect of a transfer payment; notification to members that in the event of members not consenting to the transfer, the trustees are considering applying to the Authority for a determination that would result in the member’s benefits being transferred out of the relevant scheme, notwithstanding their lack of consent; and notification to members that they have 30 days to make written observations to the trustees on the proposed application to the Authority which the trustees must give due consideration to before making any final decision on whether to apply to the Authority. The written notice at 2 above should be given by delivering the notice to the person to whom it relates, or sending it by post in a prepaid registered letter addressed to such person at the address at which he or she ordinarily resides. Please note that the trustees will not be deemed to have satisfied the notification requirement where a letter is returned as undelivered.
Transfer_without_consent_application_form_2017.docx