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The Teachers’ Pension Scheme (Remediable Service) Regulations (Northern Ireland) 2023

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Changes over time for: Section 53

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There are currently no known outstanding effects for the The Teachers’ Pension Scheme (Remediable Service) Regulations (Northern Ireland) 2023, Section 53. Help about Changes to Legislation

Club transfers out on or after 1st October 2023 N.I.
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53.—(1) This regulation applies in relation to a remediable club transfer value payment to be made by the scheme manager on or after 1st October 2023.

(2) The scheme manager must calculate the following amounts—

(a)the club transfer value of M’s rights under a teachers’ pension scheme as if M’s remediable rights had been secured in M’s legacy scheme;

(b)the club transfer value of M’s rights under a teachers’ pension scheme as if M’s remediable rights had been secured in the reformed scheme.

(3) The amount of the remediable club transfer value is the greater of the amounts calculated under paragraph (2).

(4) The scheme manager must provide to the receiving scheme the result of the calculations mentioned in paragraph (2).

Commencement Information

I1Reg. 53 in operation at 1.10.2023, see reg. 1

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