The Teachers' Superannuation (Scotland) Regulations 2005

4.  Where–

(a) a teacher requests that a transfer value be paid to–

(i) an occupational pension scheme which is not contracted out; or

(ii) a personal pension scheme which is not an appropriate personal pension scheme; or

(iii) a self-employed pension arrangement; and

(b) the trustees or managers of the occupational pension scheme, personal pension scheme or self employed pension arrangement are able or willing to have transferred to it only the liabilities for a teacher’s accrued rights other than that teacher and their spouse’s rights to guaranteed minimum pensions or that teacher’s accrued right so far as attributable to service in contracted-out employment on or after 6th April 1997; and

(c) the teacher does not require the Scottish Ministers to use that portion of the transfer value that represents guaranteed minimum pension or his or her accrued rights so far as attributable to service in contracted-out employment on or after 6th April 1997 in one of the ways specified in regulation G1,

the teacher’s transfer value shall be reduced by the amount sufficient to meet the liability in respect of the teacher’s and his widow’s or, as the case may be, her widower’s pensions being guaranteed pensions or pensions so far as attributable to service in contracted-out employment on or after 6th April 1997 and that person’s protected rights.