42.—(1) This regulation applies in relation to each member (“M”) in respect of whom the scheme manager paid a remediable club transfer value before 1st October 2023.
(2) The scheme manager must calculate the transfer value of M’s rights under a civil service scheme as if all of M’s remediable rights had been secured in—
(a)the PCSPS(NI), and separately
(b)alpha.
(3) The scheme manager must provide to the receiving scheme the result of the calculations mentioned in paragraph (2).
(4) Where the receiving scheme is a local government scheme (within the meaning of section 86(1) of PSPJOA 2022), and—
(a)the greater of the amounts calculated under paragraph (2) (“x”) is greater than
(b)the amount of the remediable transfer value (“y”),
the scheme manager must pay the receiving scheme an amount equal to x – y.
(5) A payment made under paragraph (4) is subject to the same conditions as the remediable club transfer value.
Commencement Information
I1Reg. 42 in operation at 1.10.2023, see reg. 1(b)
43.—(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 payment 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 civil service scheme on the same terms as the remediable club transfer value.
(4) The scheme manager must determine M’s remediable benefits as if the remediable club transfer value, together with any adjustment accepted under paragraph (2), were applied in respect of rights secured in—
(a)the PCSPS(NI), and separately
(b)alpha.
Commencement Information
I2Reg. 43 in operation at 1.10.2023, see reg. 1(b)
44. This Section applies in respect of a member (“M”) who is a deferred choice member, and to whom no pension benefits have become payable in relation to M’s remediable service.
Commencement Information
I3Reg. 44 in operation at 1.10.2023, see reg. 1(b)
45.—(1) This regulation applies in relation to a remediable club transfer value to be paid by the scheme manager in respect of M on or after 1st October 2023.
(2) The scheme manager must calculate the transfer value of M’s rights under a civil service scheme as if all of M’s remediable rights had been secured in—
(a)the PCSPS(NI), and separately
(b)alpha.
(3) The amount of the remediable club transfer value is the greater of the amounts calculated under paragraph (2).
(4) The scheme manager must provide to the receiving scheme the result of the calculations mentioned in paragraph (2).
Commencement Information
I4Reg. 45 in operation at 1.10.2023, see reg. 1(b)
46.—(1) This regulation applies in relation to a remediable club transfer value payment which is accepted by the scheme manager on or after 1st October 2023.
(2) The scheme manager must determine M’s benefits as if the remediable transfer value were applied in respect of rights in—
(a)the PCSPS(NI), and separately
(b)alpha.
Commencement Information
I5Reg. 46 in operation at 1.10.2023, see reg. 1(b)
47.—(1) This regulation applies in relation to a deferred choice member (“M”) in respect of whom the scheme manager has accepted a remediable club transfer value, where—
(a)benefits become payable under the PCSPS(NI) in relation to M’s remediable service, and
(b)it is impracticable for the scheme manager to issue a remediable service statement in relation to M’s remediable service because the sending scheme has not provided the information required to determine the value of M’s rights in accordance with regulation 43(4).
(2) The scheme manager may, during the relevant period, pay to a person who is entitled to receive benefits in relation to M’s pensionable service (“the beneficiary”) the following benefits in relation to M’s rights under the PCSPS(NI)—
(a)such benefits as do not relate to the remediable club transfer value determined as if a deferred choice decision has been made that no section 10 election is to be made in relation to M’s remediable service, and
(b)such benefits as relate to the remediable club transfer value determined as if regulation 50(1) does not apply in relation to the rights secured by the remediable club transfer value.
(3) Where, at the end of the relevant period—
(a)the aggregate of the benefits that have been paid pursuant to paragraph (2), exceeds
(b)the aggregate of the benefits to which (after taking into account the effect, if any, of regulation 50(1) and (4) and section 10(4) of PSPJOA 2022) the beneficiary is entitled under the PCSPS(NI) in respect of M’s pensionable service,
the beneficiary must pay an amount equal to the difference to the scheme manager.
(4) Where, at the end of the relevant period—
(a)the amount mentioned in paragraph (3)(a), is less than
(b)the amount mentioned in paragraph (3)(b),
the scheme manager must pay an amount equal to the difference to the beneficiary.
(5) Regulation 13(1)(b)(iii) does not apply to determine the end of the section 10 election period in relation to M.
(6) In this regulation, “relevant period” means the period beginning with the day on which benefits become payable in relation to M’s remediable service and ending with the earlier of—
(a)the time at which a deferred choice decision is made in relation to M’s remediable service, and
(b)the end of the section 10 election period in relation to M.
Commencement Information
I6Reg. 47 in operation at 1.10.2023, see reg. 1(b)