Regulation 102 Calculating amount of the transfer valueI1
United Kingdom
(1)
If a transfer value payment is made later than 6 months after the guarantee date, the amount of the transfer value must be increased in accordance with regulations made under section 97 of the PSA 1993.
(2)
If a transfer value is less than the minimum transfer value, the amount of the transfer value must be increased so that it is equal to the amount of the minimum transfer value.
(3)
For the purpose of paragraph (2), “the minimum transfer value” is the sum of the following amounts—
(a)
the amount of the member’s contributions under Part 7 (contributions to purchase added pension); and
(b)
the amount of any transfer value payments and cash transfer sums accepted in relation to the member under this Part.