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The Teachers' Pension Scheme Regulations 2014
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Changes over time for: Paragraph 29
Version Superseded: 01/04/2022
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- 01/04/2015- Amendment
- 01/04/2015
Point in time - 01/04/2022- Amendment
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Accepting a bulk transfer paymentE+W
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29.—(1) This paragraph applies if another occupational pension scheme (“the sending scheme”) offers to make a bulk transfer payment in respect of all persons to whom this Part applies.
(2) The scheme manager for the existing scheme must accept a bulk transfer payment if it is offered.
(3) A transfer payment in respect of a person (P) may not be accepted as part of a bulk transfer payment if—
(a)it relates to service on or after the Fair Deal transfer date; or
(b)retirement benefits have become payable to P under the sending scheme.
(4) In this Part, “bulk transfer payment” means a single transfer payment in respect of all persons to whom this Part applies.
(5) The bulk transfer payment must be accepted into the existing scheme.
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