PART 10Transfers
CHAPTER 3Club transfers
SECTION 2Transfers out
Application of this Section208.
(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 entitlement209.
(1)
A person F1... may apply for a club transfer statement of entitlement by written notice to the scheme manager.
F2(2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Application for payment of a club transfer value210.
(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 value211.
(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.