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The Teachers’ Pension Scheme (Scotland) Regulations 2014

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CHAPTER 3Club transfers

SECTION 1Application of Chapter

Application of Chapter

201.  This Chapter applies in relation to the payment and receipt of club transfer values.

SECTION 2Transfers out

Application of this Section

202.—(1) This Section applies to a person (P) who—

(a)has left all pensionable service under this scheme;

(b)has become subject to another club scheme (“the receiving scheme”); and

(c)has not reached 75.

(2) This Section does not apply if—

(a)P is not qualified for retirement benefits under this scheme and a repayment of the balance of contributions has been made to P; or

(b)P is qualified for retirement benefits under this scheme and a retirement pension (other than a phased retirement pension) or a short-service serious ill-health grant has become payable to P in respect of that pensionable service.

Application for a club transfer statement of entitlement

203.—(1) A person (P) may apply for a club transfer statement of entitlement by written notice to the scheme manager.

(2) The application must be made within 12 months after the day on which P becomes subject to the receiving scheme.

Application for payment of a club transfer value

204.—(1) A person (P) who is provided with a club transfer statement of entitlement may apply for a club transfer value to be paid to another public service pension scheme (“the receiving scheme” ).

(2) The application must—

(a)be made within 12 months after the day on which P becomes subject to the receiving scheme;

(b)be by notice to the scheme manager;

(c)specify the pension scheme to which the club transfer value is to be paid; and

(d)meet any other conditions the scheme manager requires.

Payment of a club transfer value

205.—(1) On receipt of the application, the scheme manager may pay a club transfer value in respect of P.

(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be made under this regulation.

(3) If a transfer value payment is made in respect of a person’s rights under this scheme, those rights are extinguished.

SECTION 3Transfers in

Application for acceptance of a club transfer value

206.—(1) A person (P) may apply for payment of a club transfer value to be accepted from another club scheme.

(2) The application must—

(a)be made within 12 months after the day on which P enters pensionable service under this scheme;

(b)be by written notice to the scheme manager;

(c)specify the pension scheme from which the club transfer value is to be received; and

(d)meet any other conditions the scheme manager requires.

Acceptance of a club transfer value

207.—(1) On receipt of an application, the scheme manager may accept payment of a club transfer value from another club scheme (“the sending scheme”) if—

(a)P has not reached 75;

(b)retirement benefits have not become payable to P under this scheme or under the sending scheme: and

(c)the sending scheme was a money purchase arrangement to which P’s previous employer made contributions.

(2) A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.

Amount of club transfer earned pension

208.  The amount of club transfer earned pension a person is entitled to count under this Part is an amount determined by the scheme manager.

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