# The Teachers' Pensions Regulations 2010, Paragraph 5


Where—
(a) a transfer value is payable to the scheme managers of a registered pension scheme which is an occupational pension scheme and not a club scheme, and
(b) the service to which it relates includes service before 1st September 1988, and
(c) a right to a cash equivalent was acquired,
the amount of the transfer value is D - E where—
D is the transfer value that would have been payable if paragraph 4 had applied, and
E is the amount of the cash equivalent.

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Source: https://www.legislation.gov.uk/uksi/2010/990/schedule/6/paragraph/5 (the official version)
Page: https://openlegislation.uk/teachers-pensions-regulations-2010/schedule-6/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.