Regulation 8 Amendment of the Teachers' Superannuation (Scotland) Regulations 2005

Regulation G2 (acceptance of transfer values) is amended as follows.

In paragraph (1) for the words from “benefit under – ” to “self employed pension arrangement,” substitute “benefit under a registered pension scheme”.

For paragraph (2) substitute–

“(2)

Subject to paragraphs (3) to (5), the Scottish Ministers on receipt of the notice from the teacher may accept from the trustees or managers of the registered pension scheme in which his or her accrued rights are preserved (hereinafter in this regulation referred to as “the previous scheme”) a transfer value in respect of all, or part, of those accrued rights.”.

For paragraph (4) substitute–

“(4)

A transfer value shall not be accepted in respect of a teacher–

(a)

who is a re-employed teacher to whom regulation E18 applies;

(b)

who has become entitled to payment of benefits under a provision of a statutory scheme corresponding to regulation E6; or

(c)

whose previous scheme was a money purchase arrangement as defined in section 152 of the Finance Act 2004^f1to which the teacher’s employer was not a contributor and which provided benefits additional to those provided by a scheme to which he or she was a contributor.”.