SCHEDULE 3Transitional provisions
PART 5Receipt of club transfer values
Member with tapered protection or no protection27
1
This paragraph applies if a tapered protection member or a transition member who is not a protected member applies to the scheme manager for a club transfer value to be accepted.
2
On receipt of the application, the scheme manager must accept payment of the club transfer value if it is offered.
3
Payment of the club transfer value—
a
must be accepted into the existing scheme if the payment relates to pensionable service before the transition date;
b
must be accepted into this scheme if the payment relates to pensionable service on or after the transition date.