Transfer value under pension scheme covers withdrawal benefit, pensionable service and fund transfer conditions on exemption cancellation. Transfer value is payable when exemption is granted to an establishment, or when a member is moved between the pension fund of an exempted establishment and another exempted establishment's pension fund or the statutory pension fund. The payment comprises withdrawal benefit for past service up to 15 November 1995, calculated under Table I and adjusted by the factors in Table II, together with transfer value for pensionable service under Table V. If exemption is cancelled, transfer of the fund follows the conditions in the exemption notification.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer value under pension scheme covers withdrawal benefit, pensionable service and fund transfer conditions on exemption cancellation.
Transfer value is payable when exemption is granted to an establishment, or when a member is moved between the pension fund of an exempted establishment and another exempted establishment's pension fund or the statutory pension fund. The payment comprises withdrawal benefit for past service up to 15 November 1995, calculated under Table I and adjusted by the factors in Table II, together with transfer value for pensionable service under Table V. If exemption is cancelled, transfer of the fund follows the conditions in the exemption notification.
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