Receipt of a transfer value paymentN.I.
This section has no associated Explanatory Memorandum
41.—(1) This regulation applies if a transfer value payment is received from another pension scheme (other than a connected scheme) in relation to an active member of this scheme.
(2) On receiving the transfer value payment, the scheme manager must credit the active member’s account with the amount of transferred pension calculated under regulation [F1152] .
Textual Amendments
F1Word in reg. 41(2) substituted (with effect in accordance with of the amending Rule) by The Public Service (Civil Servants and Others) Pensions (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/67), regs. 1(2), 16
Commencement Information