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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 the Finance Act 2004 (see section 169(2) of the 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 Department;

(c)

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

(d)

meet any other conditions the Department requires.

Annotations

Modifications

C1

Reg. 204(2)(a) applied (with modifications) (1.10.2023) by The Teachers’ Pension Scheme (Remediable Service) Regulations (Northern Ireland) 2023 (S.R. 2023/131), regs. 1, 55