5.—(1) Chapter 1 of Part 4 of the 1993 Act (protection for early leavers: preservation of benefit) is modified as follows in relation to P.
(2) In the application of that Chapter to the old scheme—
(a)in section 66 M1 (interpretation), in the definitions of “relevant employment” and “long service benefit” a reference to the scheme is to be taken as a reference to either the old scheme or this scheme;
(b)in section 67(1) (basic principle as to short service benefit)—
(i)the requirement for a scheme to make provision is to be taken as a requirement that either the old scheme or this scheme must make that provision;
(ii)a reference to a transfer payment to the scheme is to be taken as a reference to a transfer payment either to the old scheme or to this scheme;
(iii)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 this scheme;
(iv)a reference to benefit which would have been payable to P under the scheme is to be taken as a reference to benefit which would have been payable to P either under the old scheme or under this scheme,
and subsequent references in the Chapter to “short service benefit” are to be construed accordingly;
(c)in section 67(5), 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 this scheme;
(d)in section 67(7)(a), the reference to P's pensionable service under the scheme is to be taken as a reference to P's pensionable service either for the old scheme or for the old scheme and this scheme taken together; and
(e)in sections 68(2) (no discrimination between short service and long service beneficiaries), 70(6) and (7) (computation of short service benefit), 71(3) and (4) (credits) and 72(1) and (3) (pension increases), 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 this scheme.
(3) In the application of that Chapter to this scheme—
(a)in section 66, in the definitions of “relevant employment” and “long service benefit” a reference to the scheme is to be taken as a reference to either the old scheme or this scheme;
(b)in section 67(1)—
(i)the requirement for a scheme to make provision is to be taken as a requirement that either the old scheme or this scheme must make that provision;
(ii)a reference to a transfer payment to the scheme is to be taken as a reference to a transfer payment either to the old scheme or to this scheme;
(iii)a reference to benefit which would have been payable to P under the scheme is to be taken as a reference to benefit which would have been payable to P either under the old scheme or under this scheme,
and subsequent references in the Chapter to “short service benefit” are to be construed accordingly;
(c)in section 67(7)(a), the reference to P's pensionable service under the scheme is to be taken as a reference to P's pensionable service either for this scheme or for the old scheme and this scheme taken together; and
(d)in section 70(6), in relation to pensionable service which is terminated, the reference to the beginning of that service is to be taken as a reference to the beginning of pensionable service under the old scheme.
Marginal Citations
M1Section 66 was amended by S.R. 2005 No. 434.