The Teachers’ Pension Scheme (Consequential Provisions) (Scotland) Regulations 2015

Transfer values

11.—(1) Chapter 4 of Part 4 of the 1993 Act (protection for early leavers: transfer values) is modified as follows.

(2) In the application of that Chapter to P as a member of the old scheme, in—

(a) section 93(1)(a)(1) (scope of Chapter 4);

(b) section 97(3)(a) (calculation of cash equivalents); and

(c) section 98(1A) and (3)(2) (variation and loss of rights under section 94),

a reference to termination of P’s pensionable service is to be taken as a reference to termination of P’s pensionable service in relation to the new scheme.

(1)

Section 93(1)(a) was substituted by section 152(2) of the Pensions Act 1995 (c.26).

(2)

Section 98(1A) was inserted by, and section 98(3) amended by, section 173 of, and paragraph 5 of Schedule 6 to, the Pensions Act 1995 (c.26).