PART 10

Transfers
CHAPTER 2

Transfers on a cash equivalent basis
SECTION 2

Transfers out

Application of this Section
200
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.