- Latest available (Revised)
- Point in Time (01/04/2014)
- Original (As made)
No versions valid at: 01/04/2014
Point in time view as at 01/04/2014. This version of this chapter contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, CHAPTER 2.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Valid from 01/04/2015
199. This Chapter applies to the payment and receipt of transfer values.
200.—(1) This Section applies to a person (P) who—
(a)has left all pensionable service under this scheme;
(b)has become subject to—
(i)another registered pension scheme which is not a connected scheme, or
(ii)a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004 (see section 169(2) of that Act); (in either case, referred to in this Section as “the receiving scheme”), and
(c)has not reached 75.
(2) This Section does not apply if—
(a)P is not qualified for retirement benefits under this scheme and a repayment of the balance of contributions has been made to P; or
(b)P is qualified for retirement benefits under this scheme and a retirement pension (other than a phased retirement pension) or a short-service serious ill-health grant has become payable to P in respect of that pensionable service.
201.—(1) A person F1... may apply for a statement of entitlement by written notice to the scheme manager.
F2(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Word in reg. 201(1) omitted (1.4.2015) by virtue of The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 20(a)
F2Reg. 201(2) omitted (1.4.2015) by virtue of The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 20(b)
202.—(1) A person who is provided with a statement of entitlement may apply for a transfer value to be paid to the receiving scheme.
(2) The application must—
(a)be made within 12 months after the day on which P becomes subject to the receiving scheme;
(b)be by notice to the scheme manager;
(c)specify the pension scheme or other pension arrangement to which the transfer value is to be paid; and
(d)meet any other conditions the scheme manager requires.
203.—(1) On receipt of the application under regulation 202, the scheme manager may make a transfer value payment in respect of P.
(2) A member of this scheme may only require the scheme manager to use a transfer value in a way specified in section 95(2) of PSA 1993.
(3) The whole of the transfer value must be applied.
(4) A transfer value payment in respect of a member's accrued rights under this scheme may only be made to the receiving scheme.
(5) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be made under this regulation.
(6) If a transfer value payment is made in respect of a person's rights under this scheme, those rights are extinguished.
204.—(1) A person (P) may apply for payment of a transfer value to be accepted from—
(a)another registered pension scheme, or
(b)a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004 (see section 169(2) of that Act) (in either case, referred to in this Section as “the sending scheme”).
(2) The application must—
(a)be made within 12 months after the day on which P enters pensionable service under this scheme;
(b)be by written notice to the scheme manager;
(c)specify the pension scheme from which the transfer value will be received; and
(d)meet any other conditions the scheme manager requires.
205.—(1) The scheme manager may not accept payment of a transfer value from the sending scheme if—
(a)P has reached 75;
(b)retirement benefits have become payable to P under this scheme or under the sending scheme; or
(c)the sending scheme was a money purchase arrangement to which P's previous employer made no contribution.
(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.
206. The amount of transferred pension a person is entitled to count under this Part is an amount determined by the scheme manager.
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: