{
  "url": "https://openlegislation.uk/national-health-service-pension-scheme-regulations-1995/regulation-M7",
  "json_url": "https://openlegislation.uk/national-health-service-pension-scheme-regulations-1995/regulation-M7.json",
  "legislation": "uksi/1995/300",
  "legislation_title": "The National Health Service Pension Scheme Regulations 1995",
  "legislation_url": "https://openlegislation.uk/national-health-service-pension-scheme-regulations-1995",
  "path": "regulation/M7",
  "kind": "regulation",
  "number": "M7",
  "heading": "Member’s right to transfer a preserved pension to the 2008 Section",
  "text": "(1) If a member meets the conditions referred to in paragraph (3), and subject to the following provisions of this regulation, a member may require the Secretary of State to use the cash equivalent of the member’s rights under this Section of the scheme referred to in these Regulations to acquire rights in the 2008 scheme.\n(2) A member’s right to require the Secretary of State to use the cash equivalent of the member’s rights in the way referred to in paragraph (1) may only be exercised once.\n(3) The conditions referred to in paragraph (1) are that the member—\n(a) is entitled to a deferred benefit under regulation L1,\n(b) may not join this Section of the scheme in respect of any further NHS employment by virtue of regulation B2(1)(k) or B2(1)(m) or (n), and\n(c) becomes an active member of the 2008 Section on or before 31st March 2015 and before attaining the age of 60.\n(4) The Secretary of State shall provide a member to whom this regulation applies with a statement of the amount of the cash equivalent of the member’s benefits accrued in accordance with these Regulations at the guarantee date (“a statement of entitlement”).\n(5) In this regulation “the guarantee date” means any date that—\n(a) falls within the required period,\n(b) is chosen by the Secretary of State,\n(c) is specified in the statement of entitlement, and\n(d) is within the period of 10 days ending with the date on which the member is provided with the statement of entitlement.\n(6) In counting the period of 10 days referred to in paragraph (5)(d), Saturdays, Sundays, Christmas Day, New Year’s Day and Good Friday are excluded.\n(7) In paragraph (5), “the required period” means—\n(a) the period of three months beginning with the date that the Secretary of State receives notification from the member’s employing authority that the member has joined the 2008 Section; or\n(b) such longer period beginning with that date (but not exceeding six months) as may be reasonably required if, for reasons beyond the control of the Secretary of State, the requisite information cannot be obtained to calculate the amount of the cash equivalent.\n(8) Subject to paragraphs (9) to (11), the member’s guaranteed cash equivalent shall be equal to the capitalised value of all of the member’s rights to benefits accrued under these Regulations and any associated rights under Part I of the Pensions (Increase) Act 1971.\n(9) The Secretary of State shall—\n(a) take advice from the Scheme Actuary before determining the factors to be used in the calculation of the member’s guaranteed cash equivalent, and\n(b) calculate and verify the amount of the guaranteed cash equivalent in accordance with the Occupational Pension Schemes (Transfer Values) Regulations 1996.\n(10) Except in the case of a transfer payment accepted under regulation N3A (transfers in respect of members who were mis-sold pensions and who elect to join or re-join this Section of the scheme), a member’s cash equivalent will be at least equal to the amount of any transfer payments accepted in respect of the member under regulation N1(4) (which deals with the crediting of additional service upon transfer), plus the amount of the member’s contributions to this Section of the scheme.\n(11) Any part of the cash equivalent that relates to service before 29th January 1988 will be calculated as described in the previous Regulations as applicable immediately before that date, if this would be more favourable to the member.\n(12) A member who has received a statement of entitlement in accordance with paragraph (4) may apply to the Secretary of State for the cash equivalent of the member’s rights under this Section of the scheme to be used to acquire rights under the 2008 Section.\n(13) An application under this regulation must be made in respect of each and every portion of the cash equivalent and shall be—\n(a) made in writing on the form provided for this purpose by the Secretary of State;\n(b) made before the end of the period of three months beginning with the guarantee date;\n(c) irrevocable.\n(14) On the making of such an application—\n(a) a member becomes entitled to be credited with a period of pensionable service or an equivalent increase to the member’s pensionable earnings in the 2008 Section in respect of the cash equivalent value of the member’s benefits under this Section of the scheme calculated in accordance with whichever of regulations 2.F.17 or 3.F.17 of the 2008 Section apply to the member, and\n(b) the member’s rights under this Section of the scheme are extinguished on the day that the member is credited with a period of pensionable service or pensionable earnings in accordance with regulations 2.F.17 or 3.F.17 (as the case may be) of the 2008 Section.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. M7 inserted (1.10.2008) by The National Health Service Pension Scheme and Injury Benefits (Amendment) Regulations 2008 (S.I. 2008/2263), regs. 1(2)(3), 13 (with reg. 93)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. M7 inserted (1.10.2009) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2009 (S.I. 2009/2446), reg. 1(2), Sch. 1 para. 1"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. M7(3)(b) inserted (1.4.2010) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2010 (S.I. 2010/492), regs. 1(2), 12"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in reg. M7 substituted (1.10.2009) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2009 (S.I. 2009/2446), reg. 1(2), Sch. 1 para. 2"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in reg. M7(3)(c) inserted (1.4.2015) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2015 (S.I. 2015/96), regs. 1(2), 12"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/300/regulation/M7",
    "retrieved_at": "2026-10-29T13:17:02.304130+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}