- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
24.—(1) This regulation applies where D is—
(a)a deferred choice member and no pension benefits have become payable in relation to D’s remediable teacher service, or
(b)an immediate choice pensioner member, and—
(i)the end of the section 6 election period in relation to D has not passed, and
(ii)no immediate choice decision has been made in relation to D’s remediable teacher service.
(2) For the purpose of calculating the appropriate amount, the scheme manager must determine—
(a)the cash equivalent of D’s remediable relevant benefits on the valuation day as if those remediable relevant benefits were in D’s legacy scheme (“the legacy scheme cash equivalent”), and
(b)the cash equivalent of those benefits on valuation day as if they were in the reformed scheme (“the reformed scheme cash equivalent”).
(3) For the purpose of calculating the pension credit and the pension debit, the scheme manager must use the greater of—
(a)the legacy scheme cash equivalent, or
(b)the reformed scheme cash equivalent.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: