SCHEDULE 1Scottish Parliamentary Pension Scheme
Part NTransfers
Chapter 1Transfers out
77Reduction of transferable sum
Where section 96(2) of the Pension Schemes Act 1993 (c. 48) applies in relation to a transfer under rule 75, the Fund trustees may reduce the transferable sum by an amount equal to the proportion of that sum which represents the individual’s accrued rights—
a
to a guaranteed minimum pension, or
b
attributable to service in contracted-out employment (within the meaning of section 8 of the Pension Schemes Act 1993 (c. 48)).