# The Teachers' Pensions Regulations 1997, Paragraph 2


Where—
(a) a transfer value is payable to the scheme managers of a club scheme or a personal pension scheme, or
(b) a transfer value is payable to the scheme managers of an approved pension scheme which is not a club scheme and none of the service to which it relates is service before 1st September 1988,
and no right to a cash equivalent was acquired, the transfer value is to be calculated on the cash equivalent basis.

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Source: https://www.legislation.gov.uk/uksi/1997/3001/schedule/12/paragraph/2 (the official version)
Page: https://openlegislation.uk/teachers-pensions-regulations-1997/schedule-12/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.