PART P Transfers

P4 Effect of transfers out on reckonable service
1 Subject to paragraph (2) below, where any sums are paid by the Trustees under regulation P1, P2 or P3 in respect of any person, then—
(a) for the purpose of calculating that person’s aggregate period of reckonable service as a participating Member, or his aggregate period of reckonable service as a participating office holder, no account shall be taken of any period before the date of that payment; and
(b) for the purposes of regulations N1 and N2 any contributions paid by him before that date shall be treated as not having been paid.
2 Where, in the case of an opted-out participant, the value of accrued pension benefits relating to service before 6th April 1988 remains in the Fund, paragraph (1) above shall be disregarded in respect of—
(a) his aggregate period of reckonable service before 6th April 1988; and
(b) his contributions paid before that date.