PART 2ADMINISTRATION

TRANSFERS

Effect of acceptance of transfer value payment

113.—(1) Where a transfer value payment has been accepted under regulation 112 (inward transfers of pension rights), the Committee shall credit the active member’s pension account with the appropriate amount of earned pension.

(2) The calculation of the appropriate amount of earned pension for the purposes of paragraph (1) is to be in accordance with actuarial guidance issued by the Department.