# The Superannuation (Local Government and Approved Employment) Interchange Rules 1969>, Article 7: Payment of transfer value


(1) The fund authority shall, when this part of these rules becomes applicable to a person—
(a) pay to the pension scheme trustees, subject to the provisions of these rules, the same transfer value as would have been payable under the transfer value regulations if that person had become a contributory employee under another local authority in the circumstances described in section 29 of the Act of 1937, less—
(i) an amount equal to any sum which the fund authority may become liable to pay by way of income tax in respect of the amount transferred by way of transfer value; and
(ii) an amount equal to any interest required under rule 22; and
(b) furnish the pension scheme trustees and the person with the same particulars as to previous pensionable service as would have been furnished to the person if instead of entering approved employment he had become a contributory employee under another local authority.
(2) The transfer value payable in respect of a person who left local government employment before 18th August 1968 shall be calculated by reference to his age at 18th August 1969 unless—
(a) he was a person to whom the rules revoked by rule 23 could have applied and he entered approved employment on or after 18th May 1969 and before 18th August 1969, or
(b) he enters approved employment on or after 18th August 1969.
(3) The transfer value payable in respect of a person who enters approved employment on or after 18th August 1969 and more than 12 months after leaving local government employment shall be calculated by reference to his age on entering that approved employment.
(4) The transfer value payable in respect of a person who had been an established officer or servant within the meaning of the Asylums Officers' Superannuation Act 1909 (in this rule called “the Act of 1909”) shall be calculated as if paragraph (c) had been omitted from the definition of “service” in paragraph 1 of schedule 1 to the transfer value regulations.
(5) Where—
(a) a transfer value is payable by a fund authority in respect of a person who before entering local government employment had been subject to the Act of 1909, and
(b) the body by whom he was last employed while subject to that Act (in this rule called “the hospital body”) would, if he had become entitled to a superannuation allowance on leaving local government employment, have been liable to contribute to that allowance ,
the hospital body shall pay to the fund authority a sum equal to the transfer value which they would have been liable to pay to the Minister of Health under regulation 56(4) of the National Health Service (Superannuation) Regulations 1950 if that regulation had become applicable to the person when he entered approved employment.
(6) Where the hospital body would have had in respect of any such contribution as aforesaid a right of contribution from any other body, that other body shall pay to the fund authority a sum equal to the transfer value which they would have been liable to pay to the Minister of Health under paragraph (5) of the said regulation 56 if that regulation had become applicable to the person when he entered approved employment.
(7) Where any body referred to in paragraph (5) or (6) hereof has been dissolved or has ceased to exercise functions as such, references to that body shall be construed as references to the appropriate authority as defined in paragraph (15).of the said regulation 56
(8) Notwithstanding anything in the Act of 1937, when this part of these rules becomes applicable to a person, he shall cease to be entitled to any payment out of the superannuation fund administered by the fund authority other than a payment by way of return of voluntary contributions.

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Source: https://www.legislation.gov.uk/uksi/1969/997/article/7 (the official version)
Page: https://openlegislation.uk/superannuation-local-government-and-approved-employment-interchange-rules-1969/article-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.