# The Teachers' Superannuation (Scotland) Amendment Regulations 1989, Regulation 29: Schedule 10 (Transfer values)


In Schedule 10 to the principal Regulations—
(a) for paragraph 3 there shall be substituted the following paragraphs:—
“3 Where a person requests that a transfer value be paid to—
(a) (i) a superannuation scheme which is not contracted out within the meaning of section 32 of the Pensions Act; or
(ii) a personal pension scheme which is not an appropriate personal pension scheme; or
(iii) a self-employed pension arrangement; and
(b) the trustees or managers of the superannuation scheme, personal pension scheme or self-employed pension arrangement are able or willing to have transferred to it only the liabilities for a member’s accrued rights other than his or her and their respective spouses' rights to guaranteed minimum pensions; and
(c) the member does not require the Secretary of State to use that portion of the transfer value that represents guaranteed minimum pension in one of the ways specified in regulation 72(1),
the member’s transfer value shall be reduced by the amount of a state scheme premium sufficient for the Secretary of State for Social Services to meet his liability in respect of the member’s and his or her spouse’s guaranteed minimum pensions.
3A (a) Subject to sub-paragraph (b), in respect of a person who is in excluded employment by virtue of an election under regulation 4A, the transfer value calculated in accordance with this Part shall be the aggregate of the following:
(i) in relation to the person’s retiring allowance, that part of his accrued rights which bears the same proportion to his total accrued rights as his reckonable service after 5th April 1988 bears to his total reckonable service; and
(ii) in relation to his spouse’s pension, that part of his accrued rights applicable to service after 5th April 1988;
(b) Sub-paragraph (a) shall not apply to a person whose reckonable service before 6th April 1988 amounts to less than 2 years.
(c) Where—
(i) a transfer value limited in accordance with sub-paragraph (a)
has been paid in respect of a person; and
(ii) that person has subsequently ceased to be employed in excluded employment other than by virtue of an election under regulation 4B before attaining the age of 60 years, or, where regulation 72(2) applies, the age of 59 years,
a right to a transfer value in respect of any part of his accrued rights to which, but for the operation of sub-paragraph (a), he would have been entitled on ceasing to be employed in reckonable service, shall accrue to the person on the date on which he ceased to be employed in excluded employment and shall be valued accordingly.
(d) In relation to any person to whom sub-paragraph (c) applies—
(i) regulation 72(1)(d)(ii) shall have effect as if for the words “he ceased to be employed in reckonable service or entered excluded employment” there were substituted the words “he terminated excluded employment”; and
(ii) the definition of “material date” in paragraph 4(c) shall have effect as if for the words “ceased to be employed in reckonable service or entered excluded employment” there were substituted the words “terminated excluded employment”.
(e) For the purposes of this paragraph, where a person ceases to be employed in excluded employment other than by virtue of an election under regulation 4B but that person enters again into excluded employment or enters reckonable service, then, if there is between those two employments—
(i) an interval not exceeding one month; or
(ii) an interval of any length if the second of the employments results from the exercise of a right to return to work under section 45(1) of the Employment Protection (Consolidation) Act 1978 (right to return to work following pregnancy or confinement),
they shall be treated as a single employment;
(f) in the definition of “material date” in paragraph 4(c), after the words “employed in reckonable service”, there shall be inserted the words “or entered excluded employment”.”

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Source: https://www.legislation.gov.uk/uksi/1989/666/regulation/29 (the official version)
Page: https://openlegislation.uk/teachers-superannuation-scotland-amendment-regulations-1989/regulation-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.