Amendment of the Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014
27. In regulation 10 (interfund adjustments etc) for paragraph (6) substitute—
“(6) A member with deferred benefits relating to the Earlier Schemes, who did not become a member of the 2014 Scheme by virtue of regulation 5(1) of these Regulations (membership of the 2014 Scheme), but who subsequently becomes an active member of the 2014 Scheme may—
(a)within 12 months of the active member’s pension account being opened, or
(b)such longer time as the Scheme employer permits,
elect to receive a transfer value payment in relation to the deferred benefits to be credited to the active member’s account to purchase earned pension in accordance with actuarial guidance issued by the Secretary of State.
(6A) Where the appropriate administering authority in relation to the active member’s pension account mentioned in paragraph (6) (“the current authority”) is different to the administering authority which is the appropriate administering authority in relation to the deferred benefits (“the previous authority”), the previous authority must make the transfer value payment to the current authority.”.