Regulation 205 Acceptance of a transfer value
(1)
The Department may not accept payment of a transfer value from the sending scheme if—
(a)
P has reached 75;
(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.