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(1) If an application is duly made by a member under regulation 2.F.8, the Secretary of State may accept the transfer value payment if such conditions as the he may require are met, unless paragraph (4) applies.
(2) If the Secretary of State accepts the payment—
(a)the member is entitled to count the appropriate period of pensionable service for the purposes of calculating benefits payable to or in respect of the member under [F1this Section of] the Scheme, but
(b)in the case of a member any of whose service falls to be treated as capped transferred-in service, with such period as so falls counting as such service.
(3) In paragraph (2)(a) “the appropriate period” means the period calculated in accordance with regulation 2.F.11.
[F2(3A) If the Secretary of State accepts the payment from the member of a corresponding 1995 scheme, the relevant period of pensionable service shall count when determining whether or not the member has reached 45 years of pensionable service for the purposes of regulation 2.A.3.
(3B) In paragraph (3A) “the relevant period” means the period calculated in accordance with regulation 2.F.11.]
(4) For the meaning of “capped transferred-in service”, see regulation 2.F.12.
(5) The Secretary of State may not accept a transfer value payment if—
(a)it would be applied in whole or in part in respect of the member’s or the member’s spouse’s entitlement to a guaranteed minimum pension, and
(b)it is less than the amount required for that purpose, as calculated in accordance with guidance and tables prepared by the Scheme actuary for the purposes of this paragraph.
(6) Paragraph (5) does not apply if the transfer would be paid under the public sector transfer arrangements.
[F3(7) In the case of a 2008 Section Optant, this regulation is subject to regulation 2.K.13.]
Textual Amendments
F1Words in reg. 2.F.10(2) inserted (1.10.2009) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2009 (S.I. 2009/2446), reg. 1(2), Sch. 2 para. 1
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