28.—(1) This regulation applies in relation to a periodic arrangement for alpha added pension (“the relevant periodic arrangement”)—
(a)of a member (“M”) who is—
(i)a deferred choice member, or
(ii)an immediate choice member in respect of whose remediable service section 2(3)(b) of PSPJOA 2022 has effect, and
(b)which commenced during M’s period of remediable service.
(2) The relevant periodic arrangement is to be treated on and after 1st October 2023 as if it is (and always was) a periodic arrangement for PCSPS(NI) added pension.
(3) The rights to alpha added pension secured by payment of any voluntary contribution pursuant to the relevant periodic arrangement are extinguished.
(4) The scheme manager must—
(a)as soon as is practicable after 1st October 2023, and
(b)having consulted the scheme actuary,
confer rights to PCSPS(NI) added pension that are of an equivalent value to the added pension rights that would have been secured in the PCSPS(NI) if each voluntary contribution paid to alpha pursuant to the relevant periodic arrangement had been paid to the PCSPS(NI) in the same relevant pension year in which the voluntary contribution was paid to alpha.