5.—(1) Where—N.I.
(a)a transfer value is payable to the scheme managers of a personal pension scheme; and
(b)a right to a part cash equivalent was acquired,
the transfer value is to be calculated on the cash equivalent basis as if the person’s service as a regular firefighter had ended on 5th April 1988.
(2) In the case of a pension debit member, the sum payable is reduced in accordance with such guidance as is provided for that purpose by the Government Actuary.
Commencement Information
I1Sch. 6 Pt. 4 para. 5 in operation at 1.4.2006, see art. 1(2)