Regulation 2.K.13 Transfers in: transitional provisionF1
This regulation applies to a 2008 Section Optant who—
commenced a period of pensionable employment in the 1995 Section on, or after, 1st April 2008, and
within one year of the commencement of that employment, makes an application to transfer accrued rights to benefits to the 1995 Section under regulation N1 of the 1995 Regulations (member’s right to transfer accrued rights to benefits to this Section of the Scheme).
If—
the Secretary of State accepts the transfer payment in respect of the application referred to in paragraph (1) in accordance with regulation N1(4) of the 1995 Regulations, and
that payment is received by the Secretary of State before the day on which the person’s option to join this Section of the Scheme is received,
the period of pensionable service that the Optant is entitled to count in respect of that transfer payment for the purposes of calculating benefits payable to or in respect of the Optant under this Section of the Scheme will be calculated as described in paragraph (4).
If the transfer payment in respect of an application referred to in paragraph (1) is received by the Secretary of State on, or after, the day on which the person’s option to join this Section of the Scheme is received—
the Secretary of State may accept that payment under this Section of the Scheme—
without requiring the Optant to make an application under regulation 2.F.8, and
subject to such other conditions as the Secretary of State may require, and
if the Secretary of State accepts the payment, the period of pensionable service that the Optant is entitled to count in respect of that payment for the purposes of calculating benefits payable to or in respect of the Optant under this Section of the Scheme will be calculated as described in paragraph (4).
The period of pensionable service that the Optant is entitled to count for the purposes of calculating benefits payable to, or in respect of, that Optant under this Section of the Scheme—
will be calculated in accordance with regulation 2.F.11, and
the starting day for the purposes of regulation 2.F.11(2) and (3) will be the day that the Optant’s pensionable employment referred to in paragraph (1) commenced.
This is subject to paragraph (5).
If the transfer value payment is accepted by the Secretary of State under the public sector transfer arrangements—
regulation 2.F.12 shall apply to the Optant in respect of the period of pensionable service that the Optant is entitled to count under this regulation, and
the reference in regulation 2.F.12(2) to the service that the member is entitled to count under regulation 2.F.10(2)(a) shall be read as a reference to the service the Optant is entitled to count under paragraph (4) of this regulation.