§ Mr. Laurence RobertsonTo ask the Secretary of State for Health pursuant to the answer of 2 March 2004,Official Report, column 865W, on pension schemes, on what grounds the NHS Pensions Agency may refuse to accept a pension transfer into their scheme; and if he will make a statement. [173906]
§ Mr. Hutton[holding answer 17 May 2004]: The National Health Service Pensions Agency may refuse to accept a transfer of pension rights into the NHS pension scheme ("the Scheme") if:
the transferring scheme is not tax approvedthe transferring scheme is not an occupational pension scheme, a personal pension scheme, a buy-out policy or a retirement annuity other than a retirement annuity approved under section 620 (formerly section 226) of the Income and Corporation Taxes Act 1988the application to transfer is made on or after age 60the application to transfer is made more than 12 months after joining the NHS scheme (there is discretion to extend this time limit)the transfer payment offered does not meet the scheme's liability to provide a guaranteed minimum pensionthe transferring scheme will not provide a signed declaration confirming that the payment offered represents benefits that have been equalised from 17 May 1990 and that they will make good any deficiency in the amount paid should it later prove that the equalisation was inadequate.