Paragraph F.1 Right to transfer value payment
United Kingdom
This Part supplements the rights conferred under Chapter 4 of Part 4 of the Pension Schemes Act 1993 (transfer values).
This Part is without prejudice to that Chapter or Chapter 5 of that Partf1 (early leavers: cash transfer sums and contribution refunds).
Accordingly—
a member to whom Chapter 4 of that Part applies (see section 93(1)(a) of that Act) is entitled to require the payment of a transfer value in respect of the rights to benefit that have accrued to or in respect of him under the Scheme, and
a member to whom Chapter 5 of that Part applies (see section 101AA(1) of that Act) is entitled to a cash transfer sum or a contribution refund in accordance with that Chapter.
Subject to the provisions of this Part, any other former active member, other than a pensioner member, is entitled to require such a payment as if rights under Chapter 4 of Part 4 of the Pension Schemes Act 1993 had accrued to or in respect of him by reference to the reckonable service he is entitled to count under the Scheme (and references in this Part to his accrued rights or benefits are to be read accordingly).
Paragraph (4) does not apply if the former member is entitled under rule C.7 to repayment of the contributions he has paid during the period of service ending with his ceasing to be an active member or acquires a right to a contribution refund under Chapter 5 of Part 4 of the Pension Schemes Act 1993.
Paragraphs (3) and (4) do not apply to rights that are directly attributable to a pension credit.
For the application of paragraph (4) in the case of certain Gurkha Pension Scheme transferees, see rule L.7(4).
Annotations
Textual amendments
- F1
Sch. 1 rule F.1(7) inserted (1.10.2007) by The Armed Forces (Gurkha Pensions) Order 2007 (S.I. 2007/2608), arts. 1(1), 3(11)
Footnotes
- f1
Chapter 5 (sections 101AA to 101AI) is inserted by section 264 of the Pensions Act 2004 (c. 35).
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