5 Transfer of eligible pension benefits to reclaim fund
Dormant Assets Act 2022 (2022 c 5) | Legislation

Pension assets

5  Transfer of eligible pension benefits to reclaim fund

(1)     This section applies where—

(a)     a pension institution transfers to an authorised reclaim fund dormant eligible pension benefits owing to a person, and

(b)     the reclaim fund consents to the transfer.

(2)     On the transfer of eligible pension benefits consisting of benefits mentioned in section 6(1)(a) or (b)—

(a)     a person to whom the benefits are payable immediately before the transfer ceases to have any right against any pension institution

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