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Local Government Pension Scheme Regulations (Northern Ireland) 2000

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Time for payment of transfer value under regulation K2

K3.—(1) Where an application is duly made to the Committee under regulation K2(2)(c) in respect of any person, it shall pay a transfer value not later than—

(a)six months after the date on which it receives the application, or

(b)if—

(i)his NRD is earlier,

(ii)he ceased to be a member as described in regulation K2(1) at least one year before his NRD, and

(iii)he made his application under regulation K2(2)(c) before the expiry of the period of six months beginning with the date on which he ceased to be a member,

his NRD.

(2) Where—

(a)proceedings before a court have been commenced against a person at any time before the expiry of the period of six months beginning with the date on which he ceased to be a member,

(b)those proceedings (including any proceedings on appeal) have not been concluded at least three months before the date by which the Committee is required to pay the transfer value under paragraph (1), and

(c)it appears to the Committee at that date that the proceedings may lead to all or any part of the benefits payable under these regulations to or in respect of that person being forfeited under regulation H4,

then the Committee need not pay a transfer value in relation to that person until the expiry of the period of three months beginning with the date on which those proceedings are concluded.

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