PART 10Transfers
CHAPTER 3Club transfers
SECTION 3Transfers in
Acceptance of a club transfer value213
1
On receipt of an application, the scheme manager may accept payment of a club transfer value from another club scheme (“the sending scheme”) if—
a
P has not reached 75;
b
retirement benefits have not become payable to P under this scheme or under the sending scheme; and
c
the sending scheme was a money purchase arrangement to which P’s previous employer made contributions.
2
A transfer value payment in respect of any pension credit rights or pension credit benefits must not be accepted under this regulation.