Transfers required or permitted when Member starts replacement pension
177 Transfers required or permitted when Member starts replacement pension
When the Board accepts a Member’s application under regulation 173(1)(b) —
the Board is to transfer the balance of the Member’s retirement income account to the new retirement income account established for the Member in respect of the replacement pension; and
the Member may 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
[(ii) deleted]
a phased retirement benefit.
A transfer under subregulation (1)(b) 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 177 inserted: Gazette 19 Mar 2003 p. 821-2; amended: Gazette 26 May 2006 p. 1921; 10 Jan 2017 p. 153; SL 2023/205 r. 18.]
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.