Chwilio Deddfwriaeth

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The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations (Northern Ireland) 2023

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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

SECTION 2Club transfers on or after 1st October 2023

Application of Section 2

44.  This Section applies in respect of a member (“M”) who is a deferred choice member, and to whom no pension benefits have become payable in relation to M’s remediable service.

Club transfers out on or after 1st October 2023

45.—(1) This regulation applies in relation to a remediable club transfer value to be paid by the scheme manager in respect of M on or after 1st October 2023.

(2) The scheme manager must calculate the transfer value of M’s rights under a civil service scheme as if all of M’s remediable rights had been secured in—

(a)the PCSPS(NI), and separately

(b)alpha.

(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).

Club transfers in on or after 1st October 2023

46.—(1) This regulation applies in relation to a remediable club transfer value payment which is accepted by the scheme manager on or after 1st October 2023.

(2) The scheme manager must determine M’s benefits as if the remediable transfer value were applied in respect of rights in—

(a)the PCSPS(NI), and separately

(b)alpha.

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