Application to accept payment into schemeU.K.
11(1)Where a member of a scheme has asked the appropriate Minister to accept a payment representing the cash equivalent of his accrued rights in any other qualifying scheme, that Minister may—U.K.
(a)to the extent to which it does not exceed the prescribed limit, accept the payment or any part of it; or
(b)refuse to accept the payment or any part of it.
(2)A request under sub-paragraph (1) above must be made—
(a)in writing;
(b)before the person making it has reached normal pension age; and
(c)not less than one year before he becomes entitled to a pension on retirement from his qualifying service.
(3)In this paragraph—
“the prescribed limit” means the limit prescribed by regulations made by virtue of paragraph 13(a) below;
“qualifying scheme” means—
(a)an occupational pension scheme, a personal pension scheme, or an annuity purchased from an authorised [F1insurer], which satisfies prescribed requirements; or
(b)other prescribed pension arrangements.
Textual Amendments
F1Sch. 2 para. 11(3): Word in para. (a) of the definition of “qualifying scheme” substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 114(6)