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The National Health Service Pension Scheme Regulations 1995

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PART NE+W+STransfers from other pension arrangements

Member’s right to transfer accrued rights to benefits to [F1this Section of] the schemeE+W+S

N1.—[F2(1) Within 12 months after joining [F1this Section of] the scheme, a member in pensionable employment may, in writing, request the Secretary of State to accept a transfer payment in respect of the member’s rights under another occupational pension scheme, a personal pension scheme, or a buy–out policy but not in respect of rights under a free-standing AVC scheme—

(a)established on, or after, the 6th April 2006 as a registered free-standing AVC scheme for the purposes of the 2004 Act; or

(b)which on 6th April 2006 became a registered free-standing AVC scheme for the purposes of that Act and which immediately before that date was approved by the Commissioners for Her Majesty’s Revenue and Customs by virtue of section 591(2)(h) of the Income and Corporation Taxes Act 1988 (free–standing AVC schemes).]

(2) The Secretary of State shall not accept the transfer payment unless—

(a)the transferring scheme or insurance company provides all the information about the member’s rights that the Secretary of State reasonably requires; and

(b)the amount of the transfer payment [F3that relates to rights accrued in the transferring scheme before 6th April 1997] is at least equal to the yearly rate of the guaranteed minimum pension for which the Secretary of State would be liable as a result of accepting the transfer payment, multiplied by the factor appropriate to the member’s age, as set out in the following table.

member’s ageappropriate factor
29 or under8
30 — 399
40 — 4910
50 or over12

(3) [F4Except in the case of a person to whom regulation B5 applies, the] Secretary of State shall not accept the transfer payment if—

(a)[F5except where paragraph (3A) applies] the member joins [F1this Section of] the scheme, or requests the Secretary of State to accept the transfer payment, after reaching age 60, or

(b)the request is made following a notice given under regulation B4(5) (opted–out person rejoining [F1this Section of]the scheme) in circumstances where the member had a previous opportunity to request the Secretary of State to accept a transfer payment in respect of those same rights but did not take that opportunity.

[F6(3A) This paragraph applies where the member’s employment is transferred to a new employer on the transfer of his employment to a new employer as a result of a transfer of an undertaking to that employer.]

(4) If the Secretary of State accepts the transfer payment, the member will be credited with an additional period of pensionable service as described in whichever of regulations N2 (transfers made under the Public Sector Transfer Arrangements) [F7, N3 (transfers that are not made under the Public Sector Transfer Arrangements) and N3A (transfers in respect of members to whom regulation B5 applies who elect to join or rejoin [F1this Section of] the scheme) is applicable.].

(5) For the purposes of calculating a member’s final year’s pensionable pay, any period of pensionable service with which a member is credited in respect of a transfer payment will be treated as pensionable employment and the pensionable pay by reference to which that service is calculated will be treated as pensionable pay received in respect of that employment.

Textual Amendments

Transfers made under the Public Sector transfer ArrangementsE+W+S

N2.—(1) Subject to paragraph (2), if the transfer is from another occupational pension scheme that participates in the Public Sector Transfer Arrangements, the additional period of pensionable service to be credited to the member in respect of the transfer payment will be equal to the period that, if used to calculate a cash equivalent under regulation M3 (amount of member’s cash equivalent), would produce an amount equal to the amount of the transfer payment.

(2) Paragraph (1) applies only if the transfer payment—

(a)represents all the member’s rights to benefits under the transferring scheme; and

(b)is calculated in a manner that is consistent with the actuarial methods and assumptions used by the Secretary of State to calculate cash equivalents under regulation M3 in the case of transfers under the Public Sector Transfer Arrangements.

(3) For the purpose of calculating the additional period of pensionable service under paragraph (1), regard shall be had to the member’s age and marital status, and to the yearly rate of pay and any other factor notified to the Secretary of State by the trustees or managers of the transferring scheme as having been taken into account for the purpose of calculating the amount of the transfer payment.

Transfers that are not made under the Public Sector Transfer ArrangementsE+W+S

N3.—(1) Except where regulation N2 (transfers made under the Public Sector Transfer Arrangements) applies, the additional period of pensionable service to be credited to the member in respect of the transfer payment will be calculated in a manner that is consistent with the actuarial methods and assumptions used by the Secretary of State to calculate cash equivalents under regulation M3 (amount of member’s cash equivalent), in the case of transfers that are not made under the Public Sector Transfer Arrangements.

(2) When calculating the additional period of pensionable service under paragraph (1), due allowance shall be made for the expected increase in the pensionable pay of all members of the same age as the member in respect of whom the transfer payment is being accepted between the date on which that member joins [F8this Section of] the scheme (or the date on which the transfer payment is accepted, if that is more than 12 months later) and the date on which the member will reach age 60.

Textual Amendments

[F9Transfers in respect of members to whom regulation B5 applies who elect to join or rejoin [F10this Section of] the schemeE+W+S

N3A.—(1) In the case of a member to whom regulation B5 applies, this regulation shall apply for the purpose of calculating the amount of the transfer payment by reference to which an additional period of pensionable service may be credited by the Secretary of State to that member.

(2) Subject to paragraphs (3) and (4), the transfer payment in respect of which an additional period of pensionable service may be credited by the Secretary of State to a member referred to in paragraph (1) shall be calculated in a manner that is consistent with the actuarial methods and assumptions used by the Secretary of State to calculate cash equivalents under regulation M3 (amount of member’s cash equivalent) in the case of transfers that are not made under the Public Sector Transfer Arrangements and shall be of an amount equal to the total amount of—

(i)an amount which would enable the member to be credited by [F10this Section of] the scheme with such additional period of pensionable service as the Secretary of State may approve in respect of the period during which he made contributions to a personal pension scheme (“the relevant scheme”);

(ii)the amount of the cash equivalent, if any, which the member transferred to the relevant scheme by exercising a right under regulation M2 (exercising a right to transfer or buy-out) (“the transferred rights”); and

(iii)an amount, to be determined from time to time by [F11the Scheme Actuary], which represents the income which would have been received on the amount referred to in sub-paragraph (ii) had that amount been invested during the period commencing at the end of the month in which it was paid by [F10this Section of] the scheme to the relevant scheme and ending at the end of the month in which the transfer payment was paid to [F10this Section of] the scheme by the relevant scheme.

(3) The amount, if any, payable by virtue of paragraphs (2)(ii) and (iii) shall be at least equal to the amount of the cash equivalent transfer value which would be payable by [F10this Section of] the scheme in respect of the transferred-out service if [F10this Section of] the scheme were to pay a cash equivalent transfer value in respect of that service immediately after the time at which the transfer payment is paid to [F10this Section of] the scheme by the relevant scheme.

(4) In the case of a member to whom regulation B5 applies who has been credited with an additional period of pensionable service calculated as specified in regulation N3 (transfers that are not made under the Public Sector Transfer Arrangements), the Secretary of State may adjust the amount of the transfer payment referred to in paragraph (2) on account of the payment by reference to which that pensionable service was credited.

(5) In this regulation—

“personal pension scheme” has the same meaning as in regulation B5(4);

“transfer payment” means the payment payable to [F10this Section of] the scheme by the relevant scheme in respect of a member to whom regulation B5 applies who elects to join or rejoin [F10this Section of] the scheme; and

“transferred-out service” means the period of pensionable service which the member transferred out of [F10this Section of] the scheme by exercising a right under regulation M2 (exercising a right to transfer or buy-out).]

Textual Amendments

[F12Special terms for transfers in (bulk transfers etc.)E+W+S

N4.—(1) This regulation applies where one or more members of another occupational pension scheme (“the transferring members”)—

(a)cease to be in pensionable employment under that scheme,

(b)join [F13this Section of the Scheme], and

(c)consent in writing to a transfer payment being accepted in respect of them and pensionable service being credited to them as mentioned in paragraphs (2) and (3).

(2) The Secretary of State may, after taking advice from [F14the Scheme Actuary], accept a single transfer payment in respect of the transferring members.

(3) Where such a transfer payment is accepted, each of the transferring members must be credited with such additional period of pensionable service as the Secretary of State determines to be appropriate after taking advice from [F15the Scheme Actuary].]

Textual Amendments

Waiver of transfer paymentsE+W+S

F16N5.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

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