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

Meaning of “alternative amount” U.K.

18.—(1) “ Alternative amount” means—

(a) in relation to a relevant pension order that does not relate to mixed service, where an initial amount was determined under—

(i) section 29(2) of WRPA 1999 in relation to a percentage value to be transferred from the initial scheme, the amount that would have been determined applying the relevant percentage value under that section on the valuation day if the remediable relevant benefits had been secured in the alternative scheme;

(ii) section 29(3) of WRPA 1999 in relation to an amount to be transferred from the initial scheme, the amount equal to the implied percentage of the cash equivalent of the remediable relevant benefits on the valuation day determined as if all of those benefits had been secured in the alternative scheme;

(b) in relation to a relevant pension order that relates to mixed service, the greater of—

(i) the PCSPS amount, and

(ii) the alpha amount.

(2) In paragraph (1)(b)—

“the PCSPS amount” means, where the initial amount was—

(a)

determined under section 29(2) of WRPA 1999 in relation to a percentage value to be transferred from both the PCSPS and alpha, the amount that would have been determined applying—

(i)

in relation to pre-taper date remediable relevant benefits, the PCSPS percentage value, and

(ii)

in relation to post-taper date remediable relevant benefits, the alpha percentage value,

under that section on the valuation day if all of the remediable relevant benefits had been secured in the PCSPS;

(b)

determined under section 29(3) of WRPA 1999 in relation to an amount to be transferred from both the PCSPS and alpha, the amount equal to the implied percentage of the cash equivalent of the remediable relevant benefits on the valuation day determined as if all of those benefits had been secured in the PCSPS;

“the alpha amount” means, where the initial amount was—

(a)

determined under section 29(2) of WRPA 1999 in relation to a percentage value to be transferred from both the PCSPS and alpha, the amount that would have been determined applying—

(i)

in relation to pre-taper date remediable relevant benefits, the PCSPS percentage value, and

(ii)

in relation to post-taper date remediable relevant benefits, the alpha percentage value,

under that section on the valuation day if all of the remediable relevant benefits had been secured in alpha;

(b)

determined under section 29(3) of WRPA 1999 in relation to an amount to be transferred from both the PCSPS and alpha, the amount equal to the implied percentage of the cash equivalent of the remediable relevant benefits on the valuation day determined as if all of those benefits had been secured in alpha.

(3) In this regulation—

“alpha percentage value” means the percentage value specified in a relevant pension sharing order in relation to alpha for the purpose of determining an amount under section 29(2) of WRPA 1999;

“implied percentage”, in relation to the value of benefits under a civil service scheme, means the percentage that an initial amount determined under section 29(3) of WRPA 1999 represented of the cash equivalent of the remediable relevant benefits under that scheme on valuation day;

“PCSPS percentage value” means the percentage value specified in a relevant pension sharing order in relation to the PCSPS for the purpose of determining an amount under section 29(2) of WRPA 1999;

“post-taper date remediable relevant benefits” means remediable relevant benefits to which D is entitled by virtue of remediable shareable rights secured by virtue of D’s remediable service after D’s tapered protection closing date;

“pre-taper date remediable relevant benefits” means remediable relevant benefits to which D is entitled by virtue of remediable shareable rights secured by virtue of D’s remediable service on or before D’s tapered protection closing date;

“relevant percentage value” means—

(a)

where the relevant pension sharing order specifies a percentage value in relation to only the initial scheme for the purpose of determining an amount under section 29(2) of WRPA 1999, that percentage value;

(b)

otherwise, the percentage value that is specified in relation to the alternative scheme;

“tapered protection closing date”, in relation to D, has the meaning given in paragraph 3 of Schedule 2 to the 2014 Regulations.

Commencement Information

I1 Reg. 18 in force at 1.10.2023, see reg. 1(b)