# The Superannuation (Civil Service and Local Government) Interchange Rules 1968, Article 19: Transfer values payable by the Treasury


(1) Subject to the provisions of these rules, the Treasury may, upon these rules becoming applicable to the officer, pay in respect of him to the local authority maintaining the superannuation fund to which he first became or becomes a contributor after ceasing to be employed as a civil servant a transfer value of an amount equal to the transfer value which would have been payable under the transfer value regulations if, on ceasing to be employed as a civil servant, the officer had ceased to be a contributory employee or a local Act contributor under one local authority and had been entitled to reckon such service as is reckonable under rule 17(1) of these rules and had become a contributory employee or a local Act contributor under another local authority, less an amount equal to any sum which may become payable by way of income tax in respect of the amount transferred by way of transfer value.
(2) The transfer value payable in respect of an officer who ceased to be employed as a civil servant before 1st February 1967 shall be calculated by reference to his age at 1st February 1968 unless—
(a) he was a person to whom the Rules revoked hereby could have applied and
(b) he entered local government employment on or after 1st November 1967 but before 1st February 1968.
(3) The transfer value payable in respect of an officer who enters local government employment after 1st February 1968 and more than twelve months after ceasing to be a civil servant shall be calculated by reference to his age on the date when he enters local government employment.
(4) The transfer value payable in respect of a further period of employment described in rule 17(4) of these rules shall be calculated—
(a) where that period becomes reckonable by virtue of an enactment in force on 1st February 1968, by reference to his age at 1st February 1968;
(b) where that period becomes reckonable by virtue of an enactment which comes into force after 1st February 1968, by reference to his age at the date on which that enactment comes into force.
(5) In the last foregoing paragraph “enactment” includes any instrument made under an Act.

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Source: https://www.legislation.gov.uk/uksi/1968/72/article/19 (the official version)
Page: https://openlegislation.uk/superannuation-civil-service-and-local-government-interchange-rules-1968/article-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.