112.—(1) An active member with relevant pension rights may request the Committee to accept a transfer value payment for some or all of those rights from the relevant transferor.
(2) Relevant pension rights are—
(a)accrued rights under a registered pension scheme other than rights to benefits under the scheme which are attributable (directly or indirectly) to a pension credit; and
(b)accrued rights under a European pensions institution.
(3) Accrued rights under a registered pension scheme include rights to preserved benefits and rights appropriately secured under section 15 (discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts) of the 1993 Act.
(4) The relevant transferor is the trustees or managers of the scheme under which the transferring person's relevant pension rights arise.
(5) But the relevant transferor for the rights specified in paragraph (3) is the trustees or managers of the scheme, or the insurance company, to which a payment in respect of the person's accrued rights has been made.
(6) A request from a transferring person under paragraph (1) shall be made by notice in writing given before the expiry of the period of twelve months beginning with the date on which the person first became an active member in an employment (or such longer period as the Committee may allow).
(7) Where a request under paragraph (1) is duly made, the Committee may accept the transfer value payment and credit it to the pension fund.
[F1(8) Where a relevant transfer is a Club Transfer, the Committee must comply with the provisions in the Club Memorandum in relation to that transfer.]
Textual Amendments