Regulation 207 Acceptance of a club transfer valueI1

Scotland

(1)

On receipt of an application, the scheme manager may accept payment of a club transfer value from another club scheme (“the sending scheme”) if—

(a)

P has not reached 75;

(b)

retirement benefits have not become payable to P under this scheme or under the sending scheme; and

(c)

the sending scheme was a money purchase arrangement to which P’s previous employer made contributions.

(2)

A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.

Annotations