Request for acceptance of a transfer paymentN.I.
150.—(1) P may by notice to the scheme manager request that a transfer payment be accepted in respect of some or all of P’s accrued rights to benefits under another pension scheme.
(2) A transfer payment request—
(a)must specify—
(i)the pension scheme from which the transfer payment is requested to be made; and
(ii)the anticipated amount of the transfer payment;
(b)must meet any other conditions the scheme manager requires; and
(c)subject to paragraph (3), must be made during the period of 12 months beginning with the day on which P [F1commences service in scheme employment] .
(3) A request that a transfer payment be accepted from the Northern Ireland Civil Service Additional Voluntary Contribution Scheme must be made—
(a)within the period of 3 months ending with the day on which P is first entitled to receive retirement benefits under this scheme; or
(b)if the scheme manager considers it reasonable in the circumstances, within any longer period the scheme manager directs.
(4) The scheme manager may direct that a transfer payment request is to be treated as having been made earlier than it was if the scheme manager considers it reasonable to do so in the circumstances.
(5) Subject to paragraph (6) on receiving a transfer payment request, the scheme manager may accept the transfer payment if all of such conditions as the scheme manager may have required are met.
(6) The scheme manager may not accept a transfer value payment if—
(a)it would be applied in whole or in part in respect of—
(i)the member’s entitlement to a guaranteed minimum pension; or
(ii)the entitlement of the member’s spouse to a guaranteed minimum pension; and
(b)it is less than the amount required for that purpose, as calculated in accordance with guidance and tables determined by the Department for the purposes of this paragraph, after consultation with the scheme actuary.
Textual Amendments
F1Words in reg. 150(2)(c) substituted (1.4.2015) by The Public Service (Civil Servants and Others) Pensions (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/181), regs. 1, 2(12)
Commencement Information