PART PTRANSFERS
Transfer to overseas pension schemesP3
1
At the request of any person who has been a participant but who has ceased to be either–
a
a member of the Parliament; or
b
an office holder,
and who (in either case) has not become entitled to a pension under the Scheme, the Parliamentary corporation shall pay into or for the purposes of any one, or more than one, fund or scheme to which this article applies a sum or sums representing the transfer value of that person’s accrued pension rights in the Fund.
2
This article applies to any overseas fund or scheme which is approved by the Parliamentary corporation, provided that the Parliamentary corporation shall before giving such approval consult and have regard to the views of the Board of Inland Revenue and the Occupational Pensions Regulatory Authority as to the suitability of the fund or scheme for the purposes of this article.
3
At the request of any person–
a
in respect of whom any sum has been paid under this article into or for the purposes of an overseas fund or scheme; and
b
who is not at the time the request is made a member of the Parliament or the holder of a qualifying office,
the Parliamentary corporation may receive a sum, out of, or out of monies held for the purposes of, that fund or scheme, equal to the sum paid under this article together with interest thereon from the date of that payment at such a rate as may be agreed by the Parliamentary corporation.