Paragraph 5 Outward transfersF1

(1)

The Secretary of State shall, upon receipt of a notice in writing under section 101F(1) of the 1993 Act (power to give transfer notice) from an eligible member, pay a transfer value in accordance with the provisions of Chapter II of Part IVA of the 1993 Act (requirements relating to pension credit benefit: transfer values) and Part III of the Pension Sharing (Pension Credit Benefit) Regulations 2000 (provision of benefits).

(2)

The transfer value referred to in sub-paragraph (1) shall represent the value of the appropriate rights invested under paragraph 2 calculated in accordance with regulation 24 of the Pension Sharing (Pension Credit Benefit) Regulations 2000 (manner of calculation and verification of cash equivalents).

Annotations

Textual amendments

F1: Sch. 2 inserted (1.5.2001) by The National Health Service (Pension Scheme and Additional Voluntary Contributions) (Pension Sharing) Amendment Regulations 2001 (S.I. 2001/1428), reg. 1, Sch. 2 para. 6

Notes on Schedule 2

Textual amendments

F2: Words in Sch. 2 heading inserted (5.12.2005) by The National Health Service (Pension Scheme, Injury Benefits, Additional Voluntary Contributions and Compensation for Premature Retirement) (Civil Partnership) Amendment Regulations 2005 (S.I. 2005/3074), regs. 1, 4(5)(a)