- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/04/2015)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 01/10/2023
Point in time view as at 01/04/2015.
There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, CHAPTER 2.
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199. This Chapter applies to the payment and receipt of transfer values.
200.—(1) This Section applies to a person (P) who—
(a)has left all pensionable service under this scheme;
(b)has become subject to—
(i)another registered pension scheme which is not a connected scheme, or
(ii)a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004 (see section 169(2) of that Act); (in either case, referred to in this Section as “the receiving scheme”), and
(c)has not reached [F1normal pension age].
(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.
Textual Amendments
F1Words in reg. 200(1)(c) substituted (1.4.2015) by The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 19
201.—(1) A person F2... may apply for a statement of entitlement by written notice to the scheme manager.
F3(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2Word in reg. 201(1) omitted (1.4.2015) by virtue of The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 20(a)
F3Reg. 201(2) omitted (1.4.2015) by virtue of The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 20(b)
202.—(1) A person who is provided with a statement of entitlement may apply for a transfer value to be paid to 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 or other pension arrangement to which the transfer value is to be paid; and
(d)meet any other conditions the scheme manager requires.
203.—(1) On receipt of the application under regulation 202, the scheme manager [F4must] make a transfer value payment in respect of P.
(2) A member of this scheme may only require the scheme manager to use a transfer value in a way specified in section 95(2) of PSA 1993.
(3) The whole of the transfer value must be applied.
(4) A transfer value payment in respect of a member's accrued rights under this scheme may only be made to the receiving scheme.
(5) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be made under this regulation.
(6) If a transfer value payment is made in respect of a person's rights under this scheme, those rights are extinguished.
Textual Amendments
F4Word in reg. 203(1) substituted (1.4.2015) by The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 21
204.—(1) A person (P) may apply for payment of a transfer value to be accepted from—
(a)another registered pension scheme, or
(b)a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004 (see section 169(2) of that Act) (in either case, referred to in this Section as “the sending 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 transfer value will be received; and
(d)meet any other conditions the scheme manager requires.
205.—(1) The scheme manager may not accept payment of a transfer value from the sending scheme if—
(a)P has reached [F5normal pension age];
(b)retirement benefits have become payable to P under this scheme or under the sending scheme; or
(c)the sending scheme was a money purchase arrangement to which P's previous employer made no contribution.
(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.
Textual Amendments
F5Words in reg. 205(1)(a) substituted (1.4.2015) by The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 22
206. The amount of transferred pension a person is entitled to count under this Part is an amount determined by the scheme manager.
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