PART 2ADMINISTRATION

TRANSFERS

Effect of acceptance of transfer value payment113

1

Where a transfer value payment has been accepted under regulation 112 (inward transfers of pension rights), the Committee shall credit the active member's pension account with the appropriate amount of earned pension.

F12

The calculation of the appropriate amount of earned pension for the purposes of the paragraph (1) is—

a

in the case of a transfer of employment between members of the Public Sector Transfer Club, in accordance with the Club Memorandum; and

b

in any other case, in accordance with actuarial guidance issued by the Department.