Receipt of a transfer value paymentN.I.
This section has no associated Explanatory Memorandum
53.—(1) This regulation applies if a transfer value payment is received from another pension scheme (other than a connected scheme) in relation to an active member of this scheme.
(2) On receiving the transfer value payment, the scheme manager must credit the active member's account with the amount of transferred pension calculated under regulation 190 (amount of transferred pension).