The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations (Northern Ireland) 2023

SECTION 3 N.I. Information provided on or after 1st October 2023

Application and interpretation of Section 3 N.I.

22.—(1) This Section applies where, on or after 1st October 2023, the scheme manager provides information for the purpose of determining amounts under Article 26 of WRP(NI)O 1999 in respect of a remedy member’s remediable service.

(2) In this Section—

“the alpha cash equivalent” has the meaning given in regulation 23(2)(b);

“alternative reduction amount” has the meaning given in regulation 24(3);

“appropriate amount” means an amount calculated for the purposes of Article 26(1) of WRP(NI)O 1999;

“immediate choice pensioner member” means an immediate choice member who is, immediately before these Regulations come into force, a pensioner member in relation to their remediable service;

“the PCSPS(NI) cash equivalent” has the meaning given in regulation 23(2)(a).

Commencement Information

I1 Reg. 22 in operation at 1.10.2023, see reg. 1(b)

Information provided on or after 1st October 2023: calculation of pension credits and debits N.I.

23.—(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 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 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 the PCSPS(NI) (“the PCSPS(NI) cash equivalent”), and

(b) the cash equivalent of those benefits on valuation day as if they were in alpha (“the alpha 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 PCSPS(NI) cash equivalent, or

(b) the alpha cash equivalent.

Commencement Information

I2 Reg. 23 in operation at 1.10.2023, see reg. 1(b)

Information provided on or after 1st October 2023: recalculating D’s reduction of benefit N.I.

24.—(1) This regulation applies where D’s remediable relevant benefits are to be reduced in relation to a pension debit calculated under regulation 23(3).

(2) The scheme manager must determine the alternative reduction amount in relation to D’s remediable relevant benefits—

(a) as soon as reasonably practicable after the transfer day, and

(b) having consulted the scheme actuary.

(3) The “alternative reduction amount” is such amount as the scheme manager considers appropriate having regard to—

(a) the cash equivalent of D’s remediable relevant benefits on valuation day as if they had been remediable relevant benefits secured in—

(i) where the pension debit mentioned in paragraph (1) was calculated on the basis of the PCSPS(NI) cash equivalent, alpha;

(ii) where the pension debit was calculated on the basis of the alpha cash equivalent, the PCSPS(NI);

(b) the percentage value or the amount to be transferred specified in the relevant pension sharing order, and

(c) the provisions of Articles 26 and 28 of WRP(NI)O 1999.

Commencement Information

I3 Reg. 24 in operation at 1.10.2023, see reg. 1(b)