pension opt-out

a transaction,52 resulting from the decision of a retail client52 who is an individual, to:

1. (a) opt out of an occupational pension scheme, group personal pension scheme or group stakeholder pension scheme to which his employer contributes and8996 of which he is a 52member; or
2. (b) decline to become a member of an occupational pension scheme, group personal pension scheme or group stakeholder pension scheme to which his employer contributes and of8996 which he is eligible to join52, or will be52 eligible to join at the end of a waiting period; 89

in favour of a stakeholder pension scheme or personal pension scheme .