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The Teachers' Pension Scheme Regulations 2014

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Changes over time for: CHAPTER 3

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Point in time view as at 01/10/2023.

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There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, CHAPTER 3. Help about Changes to Legislation

CHAPTER 3E+WClub transfers

SECTION 1E+WApplication of Chapter

Application of ChapterE+W

207.  This Chapter applies in relation to the payment and receipt of club transfer values.

SECTION 2E+WTransfers out

Application of this SectionE+W

208.—(1) This Section applies to a person (P) who—

(a)has left all pensionable service under this scheme;

(b)has become subject to another club scheme (“the receiving scheme”); and

(c)has not reached 75.

(2) This Section does not apply if—

(a)P is not qualified for retirement benefits under this scheme and a repayment of the balance of contributions has been made to P; or

(b)P is qualified for retirement benefits under this scheme and a retirement pension (other than a phased retirement pension) or a short-service serious ill-health grant has become payable to P in respect of that pensionable service.

Application for a club transfer statement of entitlementE+W

209.—(1) A person F1... may apply for a club transfer statement of entitlement by written notice to the scheme manager.

F2(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Application for payment of a club transfer valueE+W

210.—(1) A person (P) who is provided with a club transfer statement of entitlement may apply for a club transfer value to be paid to another public service pension scheme (“the receiving scheme”).

(2) The application must—

(a)be made within 12 months after the day on which P becomes subject to the receiving scheme;

(b)be by notice to the scheme manager;

(c)specify the pension scheme to which the club transfer value is to be paid; and

(d)meet any other conditions the scheme manager requires.

Payment of a club transfer valueE+W

211.—(1) On receipt of the application, the scheme manager [F3must] pay a club transfer value in respect of P.

(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be made under this regulation.

(3) If a transfer value payment is made in respect of a person's rights under this scheme, those rights are extinguished.

SECTION 3E+WTransfers in

Application for acceptance of a club transfer valueE+W

212.—(1) A person (P) may apply for payment of a club transfer value to be accepted from another club scheme.

(2) The application must—

(a)be made within 12 months after the day on which P enters pensionable service under this scheme;

(b)be by written notice to the scheme manager;

(c)specify the pension scheme from which the club transfer value is to be received; and

(d)meet any other conditions the scheme manager requires.

Modifications etc. (not altering text)

Acceptance of a club transfer valueE+W

213.—(1) On receipt of an application, the scheme manager may accept payment of a club transfer value from another club scheme (“the sending scheme”) if—

(a)P has not reached 75;

(b)retirement benefits have not become payable to P under this scheme or under the sending scheme; and

(c)the sending scheme was a money purchase arrangement to which P's previous employer made contributions.

(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.

Amount of club transfer earned pensionE+W

214.  The amount of club transfer earned pension a person is entitled to count under this Part is an amount determined by the scheme manager.

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