{
  "url": "https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993/regulation-P2",
  "json_url": "https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993/regulation-P2.json",
  "legislation": "uksi/1993/3253",
  "legislation_title": "The Parliamentary Pensions (Consolidation and Amendment) Regulations 1993",
  "legislation_url": "https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993",
  "path": "regulation/P2",
  "kind": "regulation",
  "number": "P2",
  "heading": "Transfers to other pension schemes after opt out",
  "text": "(1) At the request on or after 6th April 1988 of any person who—\n(a) is an opted out Member; or\n(b) is an opted out office holder who is not a Member of the House of Commons; and\n(c) has not become entitled to a pension under these Regulations other than a guaranteed minimum pension arising under regulation F7,\nthe Trustees shall pay into or for the purpose of any one or more than one scheme or annuity to which this regulation applies the transfer value calculated in accordance with paragraph (3) below.\n(2) This regulation applies to any fund or scheme specified in regulation P1(2) above.\n(3) For the purposes of this regulation and subject to paragraph (4) below the transfer value payable will be the value of the person’s accrued pension rights as follows—\n(a) where they have accrued to or in respect of his period of actual reckonable service as a participating Member or as a participating office holder, that part which relates to his actual reckonable service after 5th April 1988, or\n(b) where they have accrued to or in respect of service notionally attributed to him as a participating Member or as a participating office holder as a result of a transfer from another pension scheme under regulation P6 or the purchase of added years under regulation Q1, that part of such rights as was credited to him after 5th April 1988, or\n(c) where (a) and (b) both apply, the aggregate of the rights derived separately under each head.\n(4) Where on 5th April 1988 the person had an aggregate period of reckonable service as a participant of less than two years, the pension rights which have accrued by virtue of such service may, at his option, be included for the purposes of calculating a transfer value in accordance with paragraph (3) above.\n(5) Where a transfer value has been paid under this regulation in respect of a person who is an opted out Member or an opted out office holder and that person subsequently ceases to be a Member of the House of Commons or an office holder, a transfer value may be paid under regulation P1 in respect of any pension rights accrued to or in respect of him which are preserved in the principal scheme.\n(6) Paragraphs (3), (4) and (5) of regulation P1 shall apply for the purposes of this regulation.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "am (retrosp) (to 1.12.2000)",
      "affecting": "uksi/2001/2649",
      "affecting_title": "The Parliamentary Pensions (Amendment) (Pension Sharing) Regulations 2001"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2004/2416",
      "affecting_title": "The Parliamentary Pensions (Amendment) Regulations 2004"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1993/3253/regulation/P2",
    "retrieved_at": "2026-10-29T13:43:34.947939+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."
}