PART 10Transfers

CHAPTER 2Transfers on a cash equivalent basis

SECTION 2Transfers out

Application of this Section200.

(1)

This Section applies to a person (P) who—

(a)

has left all pensionable service under this scheme;

(b)

has become subject to—

(i)

another registered pension scheme which is not a connected scheme; or

(ii)

a qualifying recognised overseas pension scheme for the purposes of Part 4 of the Finance Act 2004 (see section 169(2) of that Act); (in either case, referred to in this Section as “the receiving scheme”); and

(c)

has not reached normal pension age.

(2)

This Section does not apply if—

(a)

P is not qualified for retirement benefits under this scheme and a repayment of the balance of contributions has been made to P; or

(b)

P is qualified for retirement benefits under this scheme and a retirement pension (other than a phased retirement pension) or a short-service serious ill-health grant has become payable to P in respect of that pensionable service.