Regulation 101 Effect of acceptance of transfer value

England and Wales

(1)

Where a transfer value has been accepted under regulation 100 (inward transfer of pension rights), the administering authority must credit the active member's pension account with the appropriate amount of earned pension.

F1(2)

The appropriate amount of earned pension for the purposes of paragraph (1) is calculated—

(a)

in the case of a Club Transfer, in accordance with the Club Memorandum; and

(b)

in any other case in accordance with actuarial guidance issued by the Secretary of State.

Annotations

Textual amendments

F1: Reg. 101(2) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Local Government Pension Scheme (Amendment) Regulations 2018 (S.I. 2018/493), regs. 1(2), 17