The Teachers' Pensions Regulations 2010

[F1 CHAPTER 5 E+W+S Bulk transfers

Textual Amendments

F1 Pt. 4 substituted (1.4.2015) by The Teachers' Pensions (Miscellaneous Amendments) (No. 2) Regulations 2014 (S.I. 2014/2651), regs. 1, 10

SECTION 1 E+W+S Transfers out

Payment of bulk transfer values E+W+S

36.— (1) This regulation applies where, as a result of a relevant transfer to a new employer, a person or a group of persons is no longer in pensionable employment, and either has joined or is entitled to join the new employer's pension scheme (“the receiving scheme”) referred to below as a bulk transfer.

(2) A transfer value may be calculated by the Secretary of State, after taking advice from the scheme actuary, in respect of a person who has made a written application to the Secretary of State for such a transfer within 3 months after the date on which the person was notified of the opportunity to take part in the bulk transfer arrangement.

(3) Such transfer value may be paid to the receiving scheme on the person's becoming subject to the scheme.

SECTION 2 E+W+S Transfers in

Acceptance of bulk transfer values E+W+S

36A.— (1) This regulation applies where, as the result of a relevant transfer to a new employer, a person or a group of persons has become employed in pensionable employment and is given the opportunity to transfer past service pension rights, referred to below as a “bulk transfer”.

(2) A transfer value may be accepted by the Secretary of State in respect of a person who has made a written application within 3 months after the date on which the person was notified of the opportunity to take part in the bulk transfer, but this paragraph is subject to regulation 33G(1).

(3) A person in respect of whom a transfer of such rights has been accepted as part of a bulk transfer is entitled to count reckonable service in accordance with Part 3 of Schedule 6.]