Inward transfers
J8.—(1) Subject to paragraphs (5) and (6), a transfer value offered to a person’s fund authority by the scheme managers of his previous non-local government scheme shall be accepted by them and shall, together with the amount of any limited revaluation premium under section 45 of the Pensions Act repaid to the fund authority by the Secretary of State, be credited to their superannuation fund if the conditions specified in paragraph (3) are satisfied.
(2) This regulation applies even if the cessation of the non-local government employment, or the commencement of the local government employment, or both the cessation and commencement, occurred before 21st December 1987.
(3) The conditions are that—
(a)except where the transfer value is offered as mentioned in paragraph (5)(a) and is in respect of such a period as is mentioned in paragraph (5)(b), or relates only to service reckonable under the war service provisions of a public service scheme, he has made a written request to his fund authority for the transfer value to be accepted, and
(b)subject to paragraph (4), the request was made not later than 6 months after 21st December 1987 or, if later, 6 months after the date on which he became employed in his local government employment, and
(c)the transfer value is not offered on conditions which are inconsistent with the provisions of these Regulations, and
(d)his local government employer has consented to the transfer value being accepted, except in the case of a person who became employed in his local government employment on or after 6th April 1978 and who ceased to be employed in his non-local government employment on or after 31st March 1972, and
(e)in the case of a person who became employed in his local government employment before 31st March 1972, he was employed in local government employment on that date.
(4) The local government employer may in any particular case extend the period mentioned in paragraph (3)(b).
(5) A transfer value which—
(a)is offered by the scheme managers of a public service scheme in relation to a person in relation to whom a transfer value was accepted and received before 1st April 1978, and
(b)is in respect of a period which could, if he had not ceased to be employed in his non-local government employment, have become reckonable under the war service provisions of the scheme,
shall not be accepted unless it is one calculated in accordance with Part V of Schedule 16.
(6) A transfer value under paragraph (1) shall not be accepted in relation to a person if—
(a)his non-local government employment was contracted-out employment for the purposes of the Pensions Act, and
(b)his non-local government scheme was not a statutory scheme or a scheme which is to be treated for the purposes of Schedule 17 as being a statutory scheme, and
(c)the transfer value would not secure a resultant pension calculated under paragraph (7) at least equal to—
(i)the annual equivalent of his guaranteed minimum in respect of service to which the transfer value relates, and
(ii)where equivalent pension benefits were, but would not remain, assured by his non-local government scheme, the annual rate of those benefits.
(7) A person’s resultant pension shall be calculated in accordance with the formula—
where—
R is the annual amount of the resultant pension,
N is the reckonable service (expressed in years and fractions of a year) which would, apart from paragraph (5), be credited to him under regulation J9(1)(a) if the transfer value were to be accepted by the fund authority, and
S is the annual rate of his remuneration on becoming employed in his local government employment (if he is paid weekly, the annual rate shall be calculated by multiplying the weekly rate by 52.18).
(8) A person’s guaranteed minimum shall be calculated in accordance with section 35 of the Pensions Act and the annual equivalent shall be calculated by multiplying the guaranteed minimum by 52.18.