This section has no associated Explanatory Notes
81SA sum (a “transfer-in sum”) may be paid from another pension scheme into the Pension Fund in relation to a participating member if the following conditions are met—
Condition 1 | The participating member gives the Fund trustees notice (a “transfer-in notice”) specifying— (a) the amount of the transfer-in sum, and (b) the pension scheme which is to make the payment. |
Condition 2 | The transfer-in notice is given before the participating member's 64th birthday. |
Condition 3 | The participating member has at least 3 months total reckonable service. |
Condition 4 | The pension scheme which is to make the payment is— (a) registered for the purposes of Part 4 of the Finance Act 2004 (c. 12) (see section 150 of that Act), or (b) a qualifying recognised overseas pension scheme for the purposes of that Part (see section 169 of that Act). |
Condition 5 | The transfer-in sum is the amount, if any, which requires to be applied in relation to any entitlement to a guaranteed minimum pension arising in respect of the transfer-in sum. |
Condition 6 | The transfer is not prohibited by rule 83. |
Condition 7 | Any condition imposed by the Fund trustees in relation to the transfer is met to their satisfaction. |