Regulation 35 Amendment of the Teachers' Superannuation Regulations (Northern Ireland) 1998I1

After regulation F1 there shall be inserted the following regulation—

“Bulk Transfers

F1A.

(1)

This regulation applies where as the result of a transfer of undertakings to a new employer a person or a group of persons is no longer in pensionable employment of a kind referred to in B1(1), and either has joined or is entitled to join the new employer’s pension scheme (“the receiving scheme”) referred to in this regulation as a “bulk transfer”.

(2)

Subject to regulation F1(4) a transfer value may be calculated by the Department, after taking advice from the Government Actuary, in respect of a person who has made a written application to the Department for such a transfer within 3 months of the date on which he was notified of the opportunity to take part in the bulk transfer arrangement.

(3)

Such transfer value may be paid to the receiving scheme on the person being subject to that scheme.”.