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Local Government Pension Scheme Regulations (Northern Ireland) 2000

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Inward transfers

K14.—(1) Where a person who becomes a member has accrued rights to benefit under—

(a)an occupational pension scheme,

(b)a personal pension scheme,

(c)a retirement annuity contract approved by the Commissioners of Inland Revenue under section 620 or 621 of the Income and Corporation Taxes Act 1988, or

(d)a self-employed pension arrangement,

he may within 12 months of becoming a member (or such longer period as the Committee may allow) give written notice to the Committee that he wishes it to accept a transfer value in respect of some or all of those accrued rights from the relevant transferor.

(2) In paragraph (1) the reference to accrued rights to benefit—

(a)includes rights to preserved benefits and rights appropriately secured under section 15 of the Pension Schemes (Northern Ireland) Act 1993, but

(b)excludes rights to benefits arising out of an additional voluntary contributions provision or an additional voluntary contributions scheme (except where the payments securing such rights began before 8th April 1987).

(3) In paragraph (1) “the relevant transferor”, in relation to a member, means—

(a)the trustees or managers of the scheme, contract or arrangement under which his accrued rights arise, or

(b)in the case of such rights as mentioned in paragraph (2)(a), the trustees or managers of the scheme, contract or arrangement, or the insurance company, to which a payment in respect of his accrued rights has been made.

(4) Subject to paragraphs (5) and (6), where notice is given in accordance with paragraph (1), the transfer value shall be accepted by the Committee and be credited to the fund.

(5) Paragraph (4) only applies if—

(a)the transfer value is offered on conditions which are consistent with the provisions of these regulations;

(b)in the case of a person who—

(i)became employed in his local government employment before 26th August 1977, or

(ii)ceased to be employed in his non-local government employment before 31st March 1972,

the Committee has consented to the transfer value being accepted; and

(c)in the case of a person who became employed in his local government employment before 31st March 1972, he was employed in local government employment on that date.

(6) Subject to regulation K18, the Committee only needs to accept a transfer value if it exceeds the annual amount of the guaranteed minimum pension to which the person would have become entitled under these regulations at the request date as a result of the transfer value being accepted, multiplied by the appropriate factor.

(7) In paragraph (6)—

“the request date” means the date when the Committee is requested to accept the transfer value; and

“the appropriate factor”, in relation to a person, means—

(a)

in the case of a person under 30 on the request date, 8;

(b)

in the case of a person at least 30 but under 40 on that date, 9;

(c)

in the case of a person at least 40 but under 50 on that date, 10; and

(d)

otherwise, 12.

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