# The Teachers' Pension Scheme Regulations 2014, Regulation 205: Acceptance of a transfer value

Extent: E+W

(1) The scheme manager may not accept payment of a transfer value from the sending scheme if—
(a) P has reached normal pension age;
(b) retirement benefits have become payable to P under this scheme or under the sending scheme; or
(c) the sending scheme was a money purchase arrangement to which P's previous employer made no contribution.
(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.

---
Source: https://www.legislation.gov.uk/uksi/2014/512/regulation/205 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-2014/regulation-205
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.