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Revaluation of preserved benefit
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8.—(1) Chapter 2 of Part 4 of the 1993 Act (protection for early leavers: revaluation of accrued benefits excluding guaranteed minimum payment) is modified as follows.
(2) In the application of Chapter 2 for the purpose of revaluing benefit payable to or in respect of P under the old scheme—
(a)in section 83(1)(a)(ii)() (scope of Chapter 2), the reference to the date on which P’s pensionable service ends is to be taken as a reference to the date on which P’s pensionable service ends in relation to the new scheme; and
(b)subsequent references in that Chapter to “the termination date” and the “pre-pension period” are to be construed accordingly.
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