PART 10 Transfers

CHAPTER 3 Club transfers

SECTION 3 Transfers in

207 Acceptance of a club transfer value
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.