Regulation 204 Application for acceptance of a transfer value

(1)

A person (P) may apply for payment of a transfer value to be accepted from—

(a)

another registered pension scheme, or

(b)

a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004 (see section 169(2) of that Act) (in either case, referred to in this Section as “the sending scheme”).

(2)

The application must—

C1(a)

be made within 12 months after the day on which P enters pensionable service under this scheme;

(b)

be by written notice to the scheme manager;

(c)

specify the pension scheme from which the transfer value will be received; and

(d)

meet any other conditions the scheme manager requires.

Annotations

Modifications

C1: Reg. 204(2)(a) applied (with modifications) (1.10.2023) by The Teachers’ Pension Scheme (Remediable Service) Regulations 2023 (S.I. 2023/871), regs. 1(b), 55