{
  "url": "https://openlegislation.uk/pension-schemes-act-1993/section-24F",
  "json_url": "https://openlegislation.uk/pension-schemes-act-1993/section-24F.json",
  "legislation": "ukpga/1993/48",
  "legislation_title": "Pension Schemes Act 1993",
  "legislation_url": "https://openlegislation.uk/pension-schemes-act-1993",
  "path": "section/24F",
  "kind": "section",
  "number": "24F",
  "heading": "Transfer out",
  "text": "(1) Regulations may prescribe—\n(a) restrictions on the transfer of the earner's accrued rights under a GMP-converted schemeaccrued rights of a person in relation to whom GMP conversion has been effected;\n(b) conditions which must be complied with on the transfer of the earner's accrued rights under a GMP-converted schemeaccrued rights of a person in relation to whom GMP conversion has been effected.\n(2) Section 20(2) and (5) shall apply to regulations under this section.\n(3) Where a member of a non-GMP-converted scheme makes an application under section 95(1), the trustees may with his consent adjust any ... cash equivalent so as to reflect rights that would have accrued if the scheme had been subject to GMP conversion in accordance with Conditions 1 to 4 of section 24B.\nWhere—\n(a) a member of a scheme makes an application under section 95(1), and\n(b) GMP conversion has not been effected in relation to the member,\nthe trustees may with the member’s consent adjust any cash equivalent so as to reflect rights that would have accrued if GMP conversion had been effected in relation to the member in accordance with Conditions 1 to 4 of section 24B.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 24A-24H inserted (1.3.2009 for specified purposes, 6.4.2009 in so far as not already in force) by Pensions Act 2007 (c. 22), ss. 14(3), 30(2)(a); S.I. 2009/406, art. 2(a)(b)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 24F(1)(a) substituted (28.4.2022 for specified purposes) by Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022 (c. 33), ss. 1(6)(a), 3(4)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 24F(1)(b) substituted (28.4.2022 for specified purposes) by Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022 (c. 33), ss. 1(6)(a), 3(4)(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "S. 24F(2) omitted (28.4.2022 for specified purposes) by virtue of Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022 (c. 33), ss. 1(6)(b), 3(4)(a)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "S. 24F(3) substituted (28.4.2022 for specified purposes) by Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022 (c. 33), ss. 1(6)(c), 3(4)(a)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Word in s. 24F(3) omitted (6.4.2015) by virtue of Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 5 (with s. 87)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1993/48/section/24F",
    "retrieved_at": "2026-10-29T09:34:33.061575+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."
}