Paragraph 55 Payment of transfer valuesI1

Northern Ireland

(1)

Subject to paragraphs (2) to (9), the Board—

(a)

may pay a transfer value in respect of a person who has, before attaining state pensionable age, either ceased to serve as a regular firefighter in the fire and rescue service or elected under article 59 not to pay pension contributions and has become subject to another superannuation scheme (“the receiving scheme”); and

(b)

shall pay a transfer value in respect of such a person if the receiving scheme is an approved scheme.

(2)

The person must within 6 months after becoming subject to the receiving scheme, or such longer period as the Board may in the circumstances allow, have made a written request to the Board for the transfer value to be paid.

(3)

A transfer value may not be paid if one was paid before in relation to the same transfer.

(4)

A transfer value may not be paid if the person has received any payment in respect of a pension to which he became entitled under Part B on ceasing to serve as a regular firefighter.

(5)

A transfer value may not be paid if the person has received any gratuity or repayment of pension contributions to which he became entitled under Part B on ceasing to serve as a regular firefighter unless he—

(a)

became subject to the receiving scheme within 12 months, or such longer period as the Board may in the circumstances allow, after ceasing to serve; and

(b)

has, within the period allowed by paragraph (2) for requesting payment of the transfer value, repaid to the Board the amount paid to him.

(6)

A transfer value may not be paid if the person has a guaranteed minimum in relation to a pension provided by this Scheme, unless—

(a)

the receiving scheme is a contracted-out scheme; or

(b)

a contributions equivalent premium has been paid in respect of him by the Board and has not been repaid.

(7)

A transfer value may not be paid if the person has acquired a right to a cash equivalent, unless—

(a)

the service to which the cash equivalent relates includes service before lst October 1990; and

(b)

the right has been exercised by requiring the whole of the cash equivalent to be paid to the scheme managers of an approved scheme which is not a club scheme.

(8)

A transfer value may not be paid if the person—

(a)

has acquired a right to a part cash equivalent; and

(b)

would on taking that right remain entitled to a deferred pension.

(9)

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

(10)

If a transfer value or cash equivalent is paid any award to which the person became entitled under Part B on ceasing to serve as a regular firefighter ceases to be payable.

(11)

Part IV of Schedule 6 has effect for determining the amounts of transfer values payable under this article.

Annotations

Commencement

I1: ANNEX Scheme Pt. F art. 55 in operation at 1.4.2006, see art. 1(2)