PART 3BENEFITS FOR PRACTITIONERS ETC.

CHAPTER 6TRANSFERS

Transfers in

Calculation of transferred-in pensionable service230.

(1)

The increase in pensionable earnings that the member is entitled to count under regulation 229 as the result of a transfer is calculated, subject to paragraphs (2) to (6), in accordance with guidance and tables provided by the Scheme actuary for the purpose by reference to any relevant factors as at the date on which the transfer payment is received by the Department.

(2)

For the purposes of the calculation under paragraph (1) the benefits in respect of the transfer payment will be calculated by increasing the member's pensionable earnings for the financial year in which the member joined the Scheme (or the financial year in which the transfer payment is received if the payment is more than 12 months after the member joined the Scheme).

(3)

The amount of the increase referred to in paragraph (2) will be calculated by—

(a)

treating the member as entitled to a period of officer service equal to the period of employment that qualified the member for the rights in respect of which the transfer payment is being made,

(b)

calculating the final year's pensionable pay that would have given rise to a cash equivalent in respect of officer service under regulation 98 (calculating amounts of transfer value payments), and

(c)

increasing the member's pensionable earnings by an amount equal to the pensionable pay that the member would have received during that period of officer service if the member's pensionable pay had been equal to the final year's pensionable pay mentioned in sub-paragraph (b) throughout that period.

(4)

But paragraph (3) does not apply if—

(a)

a written statement estimating the increase in pensionable earnings that the member would be entitled to count as result of the transfer was given to the member by the Department during the period of 3 months ending 12 months after the starting day, and

(b)

the transfer payment is received by the Department less than 3 months after the date of the statement.

(5)

If the transfer value payment is accepted under the public sector transfer arrangements, the increase in pensionable earnings the member is entitled to count is calculated—

(a)

in accordance with those arrangements, and

(b)

by reference to the guidance and tables provided by the Scheme actuary for the purposes of this paragraph, that are in use on the date that is used by the transferring scheme for calculating the transfer value payment.

(6)

If the transfer value payment is accepted from a corresponding health service scheme, the increase in pensionable earnings the member is entitled to count is the increase that the member would be entitled to count if—

(a)

the member's employment to which that scheme applied was HSC employment in respect of which the member was a member of the Scheme, and

(b)

the member's contributions to that scheme were contributions to the Scheme.

(7)

In this Part “corresponding health service scheme” means—

(a)

a superannuation scheme provided under regulations made under sections 10 (1) and (2) and 12 (1) and (2) of, and Schedule 3 to, the Superannuation Act 1972,

(b)

a superannuation scheme provided under Regulations made under section 10 of the Superannuation Act 1972 and having effect in Scotland,

(c)

a scheme made under section 2 of the Superannuation Act 1984 (an Act of Tynwald) applies, and

(d)

any other occupational pension scheme approved for the purposes of this regulation by the Department.