Regulation 134 Right to transfer value payment

England and Wales

(1)

This Section applies to a member (M) unless M is—

(a)

an active member;

(b)

a pensioner member in respect of the pension to which M has become entitled; or

(c)

a pension credit member in respect of rights that are directly attributable to a pension credit.

(2)

If F1Chapter 1 of Part 4ZA of the 1993 Act (transfer values) applies to M (see section 93(1)(a) of the Act M1), M is entitled to require the payment of a transfer value in respect of the rights to benefit that have accrued to or in respect of M under this scheme.

(3)

If F2Chapter 2 of that Part applies to M (see section 101AA of that Act M2), M is entitled to a cash transfer sum or a contribution refund in accordance with that Chapter.

(4)

In any other case, M is entitled to require payment as mentioned in paragraph (2) as if the rights had accrued to or in respect of M by reference to the pensionable service M is entitled to count under this scheme (and references to M's accrued rights or benefits are to be read accordingly).

Annotations

Textual amendments

F1: Words in reg. 134(2) substituted (1.4.2016) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2016 (S.I. 2016/245), regs. 1(2), 76(2) (with reg. 105)
F2: Words in reg. 134(3) substituted (1.4.2016) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2016 (S.I. 2016/245), regs. 1(2), 76(3) (with reg. 105)

Marginal citations

M1: Section 93(1)(a) was substituted by section 152(2) of the Pensions Act 1995 (c.26).
M2: Section 101AA was inserted by section 264 of the Pensions Act 2004 (c.35) and is prospectively amended by section 36(4) of the Pensions Act 2014 (c.19).