Effect of acceptance of transfer valueE+W
This section has no associated Explanatory Memorandum
101.—(1) Where a transfer value has been accepted under regulation 100 (inward transfer of pension rights), the administering authority must credit the active member's pension account with the appropriate amount of earned pension.
[F1(2) The appropriate amount of earned pension for the purposes of paragraph (1) is calculated—
(a)in the case of a Club Transfer, in accordance with the Club Memorandum; and
(b)in any other case in accordance with actuarial guidance issued by the Secretary of State.]
Textual Amendments
F1Reg. 101(2) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Local Government Pension Scheme (Amendment) Regulations 2018 (S.I. 2018/493), regs. 1(2), 17