{
  "url": "https://openlegislation.uk/superannuation-teaching-and-local-government-interchange-rules-1970/article-7",
  "json_url": "https://openlegislation.uk/superannuation-teaching-and-local-government-interchange-rules-1970/article-7.json",
  "legislation": "uksi/1970/1646",
  "legislation_title": "The Superannuation (Teaching and Local Government) Interchange Rules 1970",
  "legislation_url": "https://openlegislation.uk/superannuation-teaching-and-local-government-interchange-rules-1970",
  "path": "article/7",
  "kind": "article",
  "number": "7",
  "heading": "Transfer Value",
  "text": "(1) In respect of a person to whom this Part applies the Secretary of State shall, out of moneys provided by Parliament, pay to the fund authority a transfer value of an amount calculated in accordance with the following provisions of this rule.\n(2) Subject as hereafter in this rule provided, the transfer value shall be an amount equal to the transfer value which would have been payable under the Transfer Value Regulations if the person, at the date when he ceased to be employed in teaching service, had ceased to be a contributory employee under one local authority and had become such an employee under another local authority in the circumstances described in section 29 of the Act of 1937 and had been entitled to reckon as contributing service his reckonable service and his service reckonable for the purposes of Parts VII, IX and X of the principal Teachers' Regulations at the length at which it is so reckonable.\n(3) For the purpose of calculating the amount of a transfer value any period of service which, having originally been non-contributing service or non-contributing service for the purposes of regulations made under section 66 of the National Health Service Act 1946 or section 66 of the National Health Service (Scotland) Act 1947, became reckonable as reckonable service by virtue of interchange rules shall be treated as non-contributing service.\n(4) In calculating the amount of a transfer value there shall be excluded—\n(a) any period of war service within the meaning of the Teachers Superannuation (War Service) Act 1939 and of national service within the meaning of the Teachers Superannuation (National Service) Rules 1949 in respect of which, at the time the transfer value is paid, the contributions remain unpaid; and\n(b) any period of previous employment and any period additional to actual service in respect of which the person was immediately before ceasing to be employed in teaching service paying voluntary contributions and in respect of which, at the time the transfer value is paid, he has not elected to continue to pay such contributions.\n(5) The amount of the transfer value payable in respect of a person shall be calculated by reference to his age—\n(a) on the operative date if, having ceased to be employed in teaching service more than twelve months before that date, he entered local government employment before that date; or\n(b) on the date on which he entered local government employment if that date is on or after the operative date and more than twelve months after that on which he ceased to be employed in teaching service.\n(6) The amount of the transfer value payable in respect of any person shall be reduced by an amount equal to any compound interest payable by him in accordance with rule 5(2).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "(1949 I, p. 1533)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1970/1646/article/7",
    "retrieved_at": "2026-10-29T22:53:41.541852+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."
}