# The European Parliamentary (United Kingdom Representatives) Pensions (Amendment) Order 2006, Paragraph 22: Ways in which transfer value payments may be applied


(1) A former participant may only require the Managers to apply the guaranteed cash equivalent transfer value payment in one or more of the ways permitted under section 95 of the Pensions Act 1993 (whether or not he is entitled to a guaranteed cash equivalent transfer value payment under that Act).
(2) The whole of the guaranteed cash equivalent transfer value payment must be applied, except so far as paragraph (3) applies.
(3) The benefits attributable to—
(a) the former participant’s accrued rights to a guaranteed minimum pension, or
(b) the former participant’s accrued rights attributable to service in contracted-out employment on or after 6 April 1997,
may be excluded from the guaranteed cash equivalent transfer value payment if section 96(2) of the Pensions Act 1993 applies (trustees or managers of certain receiving schemes or arrangements able and willing to accept a transfer payment only in respect of the participant’s other rights).

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Source: https://www.legislation.gov.uk/uksi/2006/919/schedule/1/paragraph/22 (the official version)
Page: https://openlegislation.uk/european-parliamentary-united-kingdom-representatives-pensions-amendment-order-2006/schedule-1/paragraph-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.