# The Parliamentary Pensions (Consolidation and Amendment) Regulations 1993, Regulation P1: Transfers to other pension schemes


(1) At the request of any person who has been a participant but who has ceased to be either—
(a) a Member of the House of Commons, or
(b) an officer holder
and who (in either case) has not become entitled to a pension under these Regulations or under the 1972 Act or under Part II 1965 Act other than a guaranteed minimum pension, the Trustees shall pay into or for the purposes of any one, or more than one, scheme or annuity to which this regulation applies, a sum or sums representing the transfer value of that person’s accrued pension rights in the Fund.
(2) This regulation applies to any scheme or annuity which satisfies the requirements prescribed by regulations made under paragraph 13(2) of Schedule 1A to the Pensions Act 1975.
(3) Where a person has required the Trustees to pay a transfer value to or for the purposes of any one or more than one scheme or annuity which does not include—
(a) a contracted-out scheme; or
(b) an appropriate personal pension scheme; or
(c) a self-employed arrangement within the meaning of regulation 2D of the Occupational Pension Schemes (Transfer Values) Regulations 1985 or regulation 2A of the Personal Pension Schemes (Transfer Values) Regulations 1987,
the Trustees shall pay a state scheme premium in respect of that person and sub-paragraphs (5) and (6) of paragraph 13 of Schedule 1A to the Pensions Act 1975 shall apply to the calculation of the transfer value payable.
(4) The state scheme premium referred to in paragraph (3) above shall be either—
(a) a transfer premium (within the meaning of section 44A of the Pensions Act 1975); or
(b) if the person’s aggregate period of reckonable service as a participant is less than two years, a contributions equivalent premium.
(5) A person may require the Trustees to pay a transfer value in respect of him at any time before a date
(a) not more than one year before the date on which he attains the age of sixty-five years; or
(b) not more than six months after the date on which he ceases to be a participant, whichever is the later.

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Source: https://www.legislation.gov.uk/uksi/1993/3253/regulation/P1 (the official version)
Page: https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993/regulation-P1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.