Paragraph F.7 Right to apply for acceptance of transfer value payment from another scheme
United Kingdom
Subject to the provisions of this Part, an active member may apply for a transfer value payment in respect of some or all of the rights that have accrued to or in respect of him F1under any scheme or arrangement to which a transfer value payment may be made under Chapter 4 of Part 4 of the Pension Schemes Act 1993 (transfer values) to be accepted by the Scheme.
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Paragraph (1) does not apply to rights that are directly attributable to a pension credit.
Paragraph (1) only applies in the case of a transfer from the Armed Forces Additional Voluntary Contributions Scheme if the Secretary of State considers that the amount to which the member is entitled under that Scheme is insufficient for the purchase of an annuity for the member.
Paragraph (1) does not apply if the member is on unpaid leave that does not count as reckonable service.
Annotations
Textual amendments
- F1
Words in Sch. 1 rule F.7(1) substituted (6.4.2006) by The Armed Forces Pension Scheme etc. (Amendment) Order 2006 (S.I. 2006/717), arts. 1(2), 11(2)(a)
- F2
Sch. 1 rule F.7(2) revoked (6.4.2006) by The Armed Forces Pension Scheme etc. (Amendment) Order 2006 (S.I. 2006/717), arts. 1(2), 11(2)(b), Sch.
Notes on Schedule 1
Modifications
- C1
Schs. 1-3 modified (14.7.2026 for the tax year 2014-15 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2026 (S.I. 2026/673), regs. 1(2), 10