{
  "url": "https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2006/schedule-1/paragraph-P9",
  "json_url": "https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2006/schedule-1/paragraph-P9.json",
  "legislation": "uksi/2006/920",
  "legislation_title": "The Parliamentary Pensions (Amendment) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2006",
  "path": "schedule/1/paragraph/P9",
  "kind": "paragraph",
  "number": "P9",
  "heading": "Acceptance of transfer value payments",
  "text": "(1) Where an application is duly made by a participant under regulation P7, the Trustees may accept the transfer value payment if such conditions as they may require are met, unless paragraph (8) applies.\n(2) If the Trustees accept the payment on an application by a participating Member, paragraphs (4) and (5) apply.\n(3) If the Trustees accept the payment on an application by a participating office holder who is not a Member of the House of Commons, paragraphs (5) and (6) apply.\n(4) The participant’s aggregate period of reckonable service for the purposes of the principal scheme and his aggregate period of reckonable service as a participant are increased by the appropriate period.\n(5) So much of the payment accepted by the Trustees as in their opinion represents the participant’s own contributory payments are treated for the purposes of regulations N1 to N4 as contributions paid by the participant, at the same time as those contributory payments were made, by deduction from his salary under regulation D1 or under section 3 of the 1972 Act or Part 2 of the Act of 1965, as the case may be.\n(6) The calculation under regulation F4 of the annual amount of any pension must be made as if—\n(a) the number of years for which contribution credit falls to be calculated under regulation F4(4) were increased by the appropriate number, and\n(b) the contribution factor for each of those additional years were the appropriate amount.\n(7) In this regulation—\n“the appropriate amount” means the amount calculated in accordance with regulation P10,\n“the appropriate number” means the number of years so calculated, and\n“the appropriate period” means the period so calculated.\n(8) The Trustees may not accept a transfer value payment if—\n(a) it would be applied in whole or in part in respect of the participant’s or the participant’s adult survivor’s entitlement to a guaranteed minimum pension, and\n(b) it is less than the amount required for that purpose, as calculated in accordance with guidance and tables prepared by the Government Actuary for the purposes of this paragraph.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/920/schedule/1/paragraph/P9",
    "retrieved_at": "2026-10-29T04:33:07.580715+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."
}