Pension Schemes Act 2026
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Change 1
28 Timing of transfers
(1) Small pots regulations must prohibit the trustees or managers of an auto-enrolment scheme from transferring a pension pot by virtue of section 26(3) or (4), or changing the arrangement subject to which it is held by virtue of section 26(5) or (6), before the end of the required notice period. (2) In subsection (1) “the required notice period”, in relation to a pension pot, means the period of 30 days, or such longer period as may be prescribed, beginning with the day on which the transfer notice in respect of the pot is sent. (3) Small pots regulations must (subject to subsection (5)) require the trustees or managers of an auto-enrolment scheme to effect any transfer of a pension pot by virtue of section 26(3) or (4), and any change in the arrangement subject to which it is held by virtue of section 26(5) or (6), before the end of the required transfer period. (4) In subsection (3) “the required transfer period”, in relation to a pension pot, means the period of one year beginning with— (a) the date on which the provision of the regulations under which the requirement is imposed comes into force, or (b) if later, the date on which the pension pot first becomes small and dormant. (5) Small pots regulations may include provision extending the required transfer period until the end of a prescribed period beginning with the date on which the trustees or managers are notified of the proposals made by virtue of section 23(1) in respect of the pot.
28 Timing of transfers
(1) Small pots regulations must prohibit the trustees or managers of an auto-enrolment scheme from transferring a pension pot by virtue of section 26(3) or (4), or changing the arrangement subject to which it is held by virtue of section 26(5) or (6), before the end of the required notice period. (2) In subsection (1) “the required notice period”, in relation to a pension pot, means the period of 30 days, or such longer period as may be prescribed, beginning with the day on which the transfer notice in respect of the pot is sent. (3) Small pots regulations must (subject to subsection (5)) require the trustees or managers of an auto-enrolment scheme to effect any transfer of a pension pot by virtue of section 26(3) or (4), and any change in the arrangement subject to which it is held by virtue of section 26(5) or (6), before the end of the required transfer period. (4) In subsection (3) “the required transfer period”, in relation to a pension pot, means the period of one year beginning with— (a) the date on which the provision of the regulations under which the requirement is imposed comes into force, or (b) if later, the date on which the pension pot first becomes small and dormant. (5) Small pots regulations may include provision extending the required transfer period until the end of a prescribed period beginning with the date on which the trustees or managers are notified of the proposals made by virtue of section 23(1) in respect of the pot.
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