Paragraph 80 Acceptance of transfer value paymentsI1
Northern Ireland
F1Subject to paragraphs (3) and (4) and paragraphs (2) and (3) of article 56 (reckoning of pensionable service), where an application is duly made by a member under article 78, the Board may accept the transfer value payment.
If the Board accepts the payment, the member is entitled to count the period calculated in accordance with article 81 as pensionable service F2or special pensionable service for the purposes of this Scheme.
The Board may not accept a transfer value payment if—
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
it would be applied in whole or in part in respect of the member’s or the member’s spouse’s or civil partner’s entitlement to a guaranteed minimum pension; and
it is less than the amount required for that purpose, as calculated in accordance with guidance and tables prepared by the Scheme Actuary for the purposes of this paragraph.
Where the application under article 78 is made by a person to whom paragraph (4) of that article applies, paragraphs (2) and (3) of article 56 (limit on maximum amount of pensionable service that can be accrued) of Part 10 do not apply to that transfer value payment and the Board must accept the transfer value payment unless paragraph (3) applies.
Annotations
Textual amendments
- F1
Words in Annex Scheme art. 80(1) substituted (retrospective to 1.4.2015) by The Firefighters’ Pension Scheme (Transitional and Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/420), reg. 1(2), Sch. 2 para. 6(b)(iii)
- F2
Words in Annex Scheme art. 80(2) inserted (1.4.2015) by The New Firefighters' Pension Scheme (Amendment) Order (Northern Ireland) 2015 (S.R. 2015/9), art. 1(2), Sch. para. 10(7)
- F3
Annex Scheme Pt. 12 art. 80(3)(a) omitted (with effect in accordance with art. 1(3) of the amending Rule) by virtue of The New Firefighters’ Pension Scheme (Amendment) Order (Northern Ireland) 2008 (S.R. 2008/381), art. 1(3), Sch. para. 10(c)
- F4
Annex Scheme art. 80(4) inserted (retrospective to 1.4.2015) by The Firefighters’ Pension Scheme (Transitional and Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/420), reg. 1(2), Sch. 2 para. 6(b)(iii)