Transfer Payments and Preserved Benefits

Part of New Clause 1 – in the House of Commons at 3:32 pm on 20th July 1987.

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`(1) It shall be permissible for the trustees of a pension scheme which is an exempt approved scheme under section 21 of the Finance Act 1970, to amend the rules of the scheme in regard to the calculation of transfer payments and of preserved benefits on behalf of any member ending pensionable service before the normal age of retirement under the scheme in accordance with the provisions of this section.