PART 6Transfers
CHAPTER 3Transfers on a club basis
SECTION 1Club transfers before 1st October 2023
Club transfers in before 1st October 2023 I139
1
This regulation applies in relation to each remediable club transfer value in respect of a member (“M”) which was accepted by the scheme manager before 1st October 2023.
2
The scheme manager may accept an adjustment in the value of a remediable club transfer value—
a
in respect of the remediable rights to which the remediable club transfer value relates, and
b
which is made by the sending scheme pursuant to, or to provision made under, PSPJOA 2022.
3
An adjustment accepted under paragraph (2) is to be used for the purpose of determining M’s benefits under a firefighters’ pension scheme on the same terms as the remediable club transfer value.
4
The scheme manager, must determine—
a
M’s overall rights in relation to the remediable transfer value in the legacy scheme;
b
M’s benefits if the remediable club transfer value, together with any adjustment accepted under paragraph (2), were applied in respect of rights in the reformed scheme.