How would the independent trustees transfer the assets and records to the PRF?
Independent trustees would write to all scheme members and inform them that the assets and administration will be transferred to this new Fund. At the same time they can also notify members of the amounts of their claim being submitted to the Pension Replacement Fund on their behalf. All the records can then be transferred over to the Board of the Pension Replacement Fund, together with the names, addresses and entitlements of all scheme members. The independent trustees would then have finished their involvement and all future responsibility would pass to the Board of the Pension Replacement Fund.
Related Questions
- If a client is entering a nursing home, can they transfer assets in order to qualify for Medicaid? Can they gift a home to a child or must they sell it?
- May a Candidate or Political Committee transfer assets for the purpose of earning interest?
- How would the independent trustees transfer the assets and records to the PRF?
