Pensions Act, 1990
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Power of trustees to effect transfer payment. |
35.—(1) Notwithstanding anything contained in section 34 , the trustees of a scheme may, in such circumstances as may be prescribed, instead of providing a preserved benefit out of the resources of the scheme, effect, without the consent of the member concerned, a transfer payment from the scheme by making one or more payments referred to in section 34 (3) (b). | |
(2) Where the trustees of a scheme have effected a transfer payment in accordance with subsection (1) they shall be discharged from any obligation to provide benefits to which the transfer payment relates. |