Member’s right to transfer accrued rights to benefits to [F1this Section of] the schemeE+W+S
N1.—[F2(1) Within 12 months after joining [F1this Section of] the scheme, a member in pensionable employment may, in writing, request the Secretary of State to accept a transfer payment in respect of the member’s rights under another occupational pension scheme, a personal pension scheme, or a buy–out policy but not in respect of rights under a free-standing AVC scheme—
(a)established on, or after, the 6th April 2006 as a registered free-standing AVC scheme for the purposes of the 2004 Act; or
(b)which on 6th April 2006 became a registered free-standing AVC scheme for the purposes of that Act and which immediately before that date was approved by the Commissioners for Her Majesty’s Revenue and Customs by virtue of section 591(2)(h) of the Income and Corporation Taxes Act 1988 (free–standing AVC schemes).]
(2) The Secretary of State shall not accept the transfer payment unless—
(a)the transferring scheme or insurance company provides all the information about the member’s rights that the Secretary of State reasonably requires; and
(b)the amount of the transfer payment [F3that relates to rights accrued in the transferring scheme before 6th April 1997] is at least equal to the yearly rate of the guaranteed minimum pension for which the Secretary of State would be liable as a result of accepting the transfer payment, multiplied by the factor appropriate to the member’s age, as set out in the following table.
| member’s age | appropriate factor |
|---|---|
| 29 or under | 8 |
| 30 — 39 | 9 |
| 40 — 49 | 10 |
| 50 or over | 12 |
(3) [F4Except in the case of a person to whom regulation B5 applies, the] Secretary of State shall not accept the transfer payment if—
(a)[F5except where paragraph (3A) applies] the member joins [F1this Section of] the scheme, or requests the Secretary of State to accept the transfer payment, after reaching age 60, or
(b)the request is made following a notice given under regulation B4(5) (opted–out person rejoining [F1this Section of]the scheme) in circumstances where the member had a previous opportunity to request the Secretary of State to accept a transfer payment in respect of those same rights but did not take that opportunity.
[F6(3A) This paragraph applies where the member’s employment is transferred to a new employer on the transfer of his employment to a new employer as a result of a transfer of an undertaking to that employer.]
(4) If the Secretary of State accepts the transfer payment, the member will be credited with an additional period of pensionable service as described in whichever of regulations N2 (transfers made under the Public Sector Transfer Arrangements) [F7, N3 (transfers that are not made under the Public Sector Transfer Arrangements) and N3A (transfers in respect of members to whom regulation B5 applies who elect to join or rejoin [F1this Section of] the scheme) is applicable.].
(5) For the purposes of calculating a member’s final year’s pensionable pay, any period of pensionable service with which a member is credited in respect of a transfer payment will be treated as pensionable employment and the pensionable pay by reference to which that service is calculated will be treated as pensionable pay received in respect of that employment.
Textual Amendments
F1Words in reg. N1 inserted (1.10.2009) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2009 (S.I. 2009/2446), reg. 1(2), Sch. 1 para. 1
F2Reg. N1(1) substituted (6.4.2006) by The National Health Service (Pension Scheme, Injury Benefits and Additional Voluntary Contributions) Amendment Regulations 2006 (S.I. 2006/600), regs. 1(2)(b), 15
F3Words in reg. N1(2)(b) inserted (1.4.2008) by The National Health Service Pension Scheme (Amendment) Regulations 2008 (S.I. 2008/654), regs. 1(2), 42
F4Words in reg. N1(3) substituted (12.2.1997) by The National Health Service Pension Scheme and Provision of Information and Administrative Expenses etc. (Amendment) Regulations 1997 (S.I. 1997/80), regs. 1, 6(1)
F5Words in reg. N1(3)(a) inserted (5.4.2002) by The National Health Service Pension Scheme (Amendment) Regulations 2002 (S.I. 2002/561), reg. 1(1)(b), Sch. para. 7