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The Local Government Pension Scheme Regulations 2013

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Changes over time for: Section 96

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Changes to legislation:

The Local Government Pension Scheme Regulations 2013, Section 96 is up to date with all changes known to be in force on or before 07 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Rights to payment out of pension fundE+W

This section has no associated Explanatory Memorandum

96.—(1) A member may apply for a transfer under [F1Chapters 1 or 2 of Part 4ZA] of the Pension Schemes Act 1993 and where the member does so the amount of any transfer payment due in respect of the member under the relevant transfer may only be paid by the administering authority from its pension fund if the transfer payment is a recognised transfer (within the meaning of section 169 of the Finance Act 2004) M1.

[F2(1A) Where a transfer under paragraph (1) is a Club Transfer, the administering authority must comply with the provisions in the Club Memorandum in relation to that transfer.]

[F3(1B) Where a transfer under paragraph (1) is applied for by an eligible member and is not a Club Transfer, the value of the transfer is to be calculated in accordance with actuarial guidance issued by the Secretary of State, taking into account the member’s provisional assumed benefits and provisional underpin amount, calculated in accordance with regulations 4I and 4J of the 2014 Regulations.]

(2) Where such a transfer payment is to be or has been paid from a fund, no other payment or transfer of assets may be made from the fund as respects the accrued rights covered by the transfer payment.

(3) Paragraph (2) overrides anything to the contrary in these Regulations.

[F4(4) Eligible member” has the same meaning as in regulation 4A(2) of the 2014 Regulations.]

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