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The Judicial Pensions Regulations (Northern Ireland) 2015

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a Northern Ireland Statutory Rule: The Judicial Pensions Regulations (Northern Ireland) 2015 No. 76

Request for transfer value payment to be made

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136.—(1) An active or deferred member of this scheme who is provided with a statement of entitlement may request a transfer value payment to be made in respect of the member’s accrued rights to benefits under this scheme.

(2) The request for the transfer value payment must—

(a)be made by notice to the scheme manager;

(b)specify the pension scheme or other pension arrangement to which the transfer value payment is to be made; and

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

(3) The member by notice to the scheme manager may withdraw the request at any time before the transfer value payment is made.

(4) The member may not withdraw the request if an agreement for the use of the whole or part of the transfer value payment has already been entered into with a third party.

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