Further draft codes issued by Pensions Regulator

The draft code entitledEarly leavers - reasonable periods is expected to come into practice in April 2006 and outlines the rights of members leaving occupational schemes early without ‘vested rights’ to benefits within the scheme. It applies to individuals leaving an occupational scheme who have accrued between three months and less than two years of pensionable service and proposes to enact the right to either take a cash transfer sum or gain a refund of their own contributions. It also explains how trustees and managers should act in relation to such rights, while setting out reason...