Duty of Member starting additional pension to transfer benefits to scheme
176 Duty of Member starting additional pension to transfer benefits to scheme
When the Board accepts a Member’s application under regulation 173(1)(a) the Member must transfer to the Retirement Income Scheme all or part of —
a benefit that is immediately payable to the Member from another scheme or another superannuation fund; or
[(b) deleted]
an amount of a transfer benefit available for transfer under regulation 44B; or
a phased retirement benefit.
The transfer under subregulation (1) must be made before the Member’s first pension day after the Board accepts the Member’s application.
The Board must refuse the transfer of an amount that is less than the pre‑set minimum (if any).
Subregulation (3) does not apply if the Board is satisfied it is appropriate to accept the transfer because of the special circumstances of the Member.
[Regulation 176 inserted: Gazette 19 Mar 2003 p. 821; amended: Gazette 26 May 2006 p. 1921; 6 Jun 2007 p. 2625; 10 Jan 2017 p. 153; SL 2023/205 r. 17.]
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