Paragraph 53 Receipt of transfer valueI1

Northern Ireland

(1)

Subject to paragraphs (2) to (4) and (6), the Board may accept a transfer value offered to it, in respect of a person who has become a regular firefighter, by the scheme managers of a superannuation scheme to which he was subject in previous service or employment (“the previous scheme”).

(2)

The person must have made a written request to the Board, not later than 12 months after the date on which he takes up employment, for the transfer value to be accepted.

(3)

A transfer value may not be accepted—

(a)

if one was accepted before 1st April 2006 in relation to the same transfer; or

(b)

where the person became a regular firefighter before 1st April 2006 if a transfer value could not have been accepted under Article 65A^f1 of the 1973 Scheme; or

(c)

if he had a guaranteed minimum in relation to a pension provided by the previous scheme unless—

(i)

the previous scheme is a club scheme, or

(ii)

the transfer value offered is of at least the required amount.

(4)

The required amount is A x B, where—

A is the annual amount of the guaranteed minimum pension to which he would be entitled under article 78 if the transfer value were accepted, and
B is the factor ascertained from the Table by reference to his age at the date on which he requested the Board to accept it.
Age Factor
29 or under 8
30 to 39 9
40 to 49 10
50 or over 12

Age	Factor
29 or under	8
30 to 39	9
40 to 49	10
50 or over	12

(5)

A person in respect of whom a transfer value is accepted is entitled to reckon as pensionable service a period calculated in accordance with Part II of Schedule 6.

(6)

A transfer value may not be accepted in respect of any pension credit rights.

Annotations

Commencement

I1: ANNEX Scheme Pt. F art. 53 in operation at 1.4.2006, see art. 1(2)

Footnotes

f1: Article 65A was inserted by paragraph 7 of Part II of Schedule 1 to S.R. 1979 No. 88 and amended by S.R. 1991 No. 312