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The Public Service (Civil Servants and Others) Pensions Regulations (Northern Ireland) 2014

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CHAPTER 3Transfers in

Application of Chapter

148.  This Chapter applies in relation to an active member of this scheme who has accrued rights under another pension scheme (P).

Interpretation of Chapter

149.  In this Chapter—

“accrued rights” does not include rights accrued under the Northern Ireland Civil Service Additional Voluntary Contribution Scheme if the scheme manager considers that the amount to which the member is entitled under that Scheme is sufficient for the purchase of an annuity for the member;

“another pension scheme” means—

(a)

another occupational pension scheme that is a registered pension scheme but is not a connected scheme;

(b)

a personal pension scheme; or

(c)

the Northern Ireland Civil Service Additional Voluntary Contribution Scheme;

“Northern Ireland Civil Service Additional Voluntary Contribution Scheme” means the scheme which was made on 23rd March 1989 under Article 3 of the 1972 Order, as amended from time to time;

“club transfer value statement” means a statement under regulation 153 of the amount of club transfer earned pension;

“transfer date” means the earlier of—

(a)

if the scheme manager has provided a transfer statement or a club transfer value statement, the last day of the period of 2 months beginning with the date of the statement; or

(b)

the day on which the transfer payment is received by the scheme manager;

“transfer payment request” means a request to the scheme manager under this Chapter that a transfer payment be accepted from another pension scheme;

“transfer statement” means a statement under regulation 151(2).

Request for acceptance of a transfer payment

150.—(1) P may by notice to the scheme manager request that a transfer payment be accepted in respect of some or all of P’s accrued rights to benefits under another pension scheme.

(2) A transfer payment request—

(a)must specify—

(i)the pension scheme from which the transfer payment is requested to be made; and

(ii)the anticipated amount of the transfer payment;

(b)must meet any other conditions the scheme manager requires; and

(c)subject to paragraph (3), must be made during the period of 12 months beginning with the day on which P becomes eligible to be an active member of this scheme.

(3) A request that a transfer payment be accepted from the Northern Ireland Civil Service Additional Voluntary Contribution Scheme must be made—

(a)within the period of 3 months ending with the day on which P is first entitled to receive retirement benefits under this scheme; or

(b)if the scheme manager considers it reasonable in the circumstances, within any longer period the scheme manager directs.

(4) The scheme manager may direct that a transfer payment request is to be treated as having been made earlier than it was if the scheme manager considers it reasonable to do so in the circumstances.

(5) Subject to paragraph (6) on receiving a transfer payment request, the scheme manager may accept the transfer payment if all of such conditions as the scheme manager may have required are met.

(6) The scheme manager may not accept a transfer value payment if—

(a)it would be applied in whole or in part in respect of—

(i)the member’s entitlement to a guaranteed minimum pension; or

(ii)the entitlement of the member’s spouse to a guaranteed minimum pension; and

(b)it is less than the amount required for that purpose, as calculated in accordance with guidance and tables determined by the Department for the purposes of this paragraph, after consultation with the scheme actuary.

Transfer statement

151.—(1) This regulation applies in relation to a request by P for a transfer value payment to be accepted from another pension scheme

(2) The scheme manager may require that, before making a transfer payment request, P must ask the scheme manager to provide a statement of the amount of transferred pension that P will be entitled to count under regulation 152 if the transfer date falls within the period of 2 months beginning with the date of that statement.

(3) The amount specified in the transfer statement must be an amount calculated by the scheme manager in accordance with actuarial guidance and tables by reference to—

(a)factors relating to P’s circumstances as at the end of that 2 month period; and

(b)any other factors as at the date of the statement that the scheme actuary considers should apply.

Amount of transferred pension

152.—(1) This regulation applies in relation to a transfer value payment received from another pension scheme in relation to P.

(2) For the scheme year in which the transfer date falls, the amount of transferred pension P is entitled to count in respect of the transfer value payment is—

(a)the amount specified in the transfer statement; or

(b)if such a statement is not provided, an amount calculated by the scheme manager in accordance with actuarial guidance and tables by reference to any factors as at the transfer date that the scheme actuary considers should apply.

(3) The amount of transferred pension P is entitled to count in a scheme year must not be more than 50% of P’s annual rate of pensionable earnings as at the day P becomes an active member of this scheme.

Club Transfer value statement

153.—(1) This regulation applies in relation to a request by P for a club transfer value payment to be accepted from another club scheme.

(2) The scheme manager may require that, before making the transfer payment request, P must ask the scheme manager to provide a statement of the amount of club transfer earned pension that P will be entitled to count under regulation 154 if the transfer date falls within the period of 2 months beginning with the date of that statement.

(3) The amount of club transfer earned pension specified in the statement must be calculated by the scheme manager in accordance with actuarial guidance and tables by reference to—

(a)factors relating to P’s circumstances as at the end of that 2 month period; and

(b)any other factors as at the date of the statement that the scheme actuary considers should apply.

(4) The statement must specify the basis on which an amount of accrued earned pension is revalued under the sending scheme while a member is in pensionable service under that scheme.

Amount of club transfer earned pension

154.—(1) This regulation applies in relation to a club transfer value payment received from another club scheme in relation to P.

(2) For the scheme year in which the transfer date falls, the amount of club transfer earned pension P is entitled to count in respect of a club transfer value payment is—

(a)the amount specified in the club transfer value statement; or

(b)if such a statement is not provided, an amount calculated by the scheme manager in accordance with actuarial guidance and tables by reference to any factors as at the transfer date that the scheme actuary considers should apply.

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