{
  "url": "https://openlegislation.uk/teachers-pension-scheme-regulations-northern-ireland-2014/regulation-203",
  "json_url": "https://openlegislation.uk/teachers-pension-scheme-regulations-northern-ireland-2014/regulation-203.json",
  "legislation": "nisr/2014/310",
  "legislation_title": "The Teachers' Pension Scheme Regulations (Northern Ireland) 2014",
  "legislation_url": "https://openlegislation.uk/teachers-pension-scheme-regulations-northern-ireland-2014",
  "path": "regulation/203",
  "kind": "regulation",
  "number": "203",
  "heading": "Payment of a transfer value",
  "text": "(1) On receipt of the application under regulation 202, the Department may make a transfer value payment in respect of P.\n(2) A member of this scheme may only require the Department to use a transfer value in a way specified in section 91(2) of the Pension Schemes Act.\n(3) The whole of the transfer value must be applied.\n(4) A transfer value payment in respect of a member's accrued rights under this scheme may only be made to the receiving scheme.\n(5) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be made under this regulation.\n(6) If a transfer value payment is made in respect of a person's rights under this scheme, those rights are extinguished.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/2014/310/regulation/203",
    "retrieved_at": "2026-10-29T01:04:41.805929+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."
}