Paragraph 6

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

sch 12 am by Teachers' Superannuation 2006 reg 12
sch 12 am by Teachers' Superannuation 2007 regs 2, 83
Sch 12, Pt I, paras 4, 5 am by Teachers' Superannuation 2005 regs 2, 23(1)–(3), 28
Sch 12, Pt II, para 12 am by Teachers' Superannuation 2005 regs 2, 23(1), (4), 28
Sch 12, Pt II, para 12A am by Teachers' Superannuation 2005 regs 2, 23(1), (5), 28
Sch. 12 substituted by Teachers' Superannuation 2015 reg. 17

Subject to paragraph 7, where–

(a)

a transfer value limited in accordance with paragraph 5(1) has been paid in respect of a teacher; and

(b)

that teacher has subsequently ceased to be employed in excluded employment other than by virtue of an election under regulation B8 before attaining the age of 60 years, or, where regulation G1(6) applies, the age of 59 years,

a right to a transfer value in respect of any part of that teacher’s accrued rights to which, but for the operation of paragraph 5(1), he or she would have been entitled on ceasing to be employed in pensionable employment, shall accrue to the teacher on the date on which he or she ceased to be employed in excluded employment and shall be valued accordingly.