The National Health Service Pension Scheme Regulations 2015

Right to transfer value payment E+W

134.—(1) This Section applies to a member (M) unless M is—

(a) an active member;

(b) a pensioner member in respect of the pension to which M has become entitled; or

(c) a pension credit member in respect of rights that are directly attributable to a pension credit.

(2) If [F1 Chapter 1 of Part 4ZA] of the 1993 Act (transfer values) applies to M (see section 93(1)(a) of the Act M1 ), M is entitled to require the payment of a transfer value in respect of the rights to benefit that have accrued to or in respect of M under this scheme.

(3) If [F2 Chapter 2] of that Part applies to M (see section 101AA of that Act M2 ), M is entitled to a cash transfer sum or a contribution refund in accordance with that Chapter.

(4) In any other case, M is entitled to require payment as mentioned in paragraph (2) as if the rights had accrued to or in respect of M by reference to the pensionable service M is entitled to count under this scheme (and references to M's accrued rights or benefits are to be read accordingly).

Textual Amendments

F1 Words in reg. 134(2) substituted (1.4.2016) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2016 (S.I. 2016/245), regs. 1(2), 76(2) (with reg. 105)

F2 Words in reg. 134(3) substituted (1.4.2016) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2016 (S.I. 2016/245), regs. 1(2), 76(3) (with reg. 105)

Marginal Citations

M1 Section 93(1)(a) was substituted by section 152(2) of the Pensions Act 1995 (c.26).

M2 Section 101AA was inserted by section 264 of the Pensions Act 2004 (c.35) and is prospectively amended by section 36(4) of the Pensions Act 2014 (c.19).