PART 1Public service pension schemes
CHAPTER 2Judicial schemes
Further provision about corrections, special cases and compensation
I1I2C162Treasury directions
1
The powers mentioned in subsection (2) must be exercised in accordance with Treasury directions.
2
The powers are—
a
the power to make scheme regulations by virtue of section 55 (power to reduce benefits) and any powers exercisable by virtue of such regulations;
b
the powers to make scheme regulations by virtue of section 56 (powers to reduce or waive liabilities) and any powers exercisable by virtue of such regulations;
c
the power to make scheme regulations by virtue of section 57 (pension credit members) and any powers exercisable by virtue of such regulations;
d
the power to make scheme regulations by virtue of section 58 (further powers to make provision about special cases) and any powers exercisable by virtue of such regulations;
e
the power of the scheme manager under section 59(1) (power to pay compensation);
f
the power to make scheme regulations by virtue of section 59(2) (power to require employer to reimburse compensation paid by scheme manager) and any powers exercisable by virtue of such regulations;
g
the power to make scheme regulations by virtue of section 60 (remedial arrangements to pay voluntary contributions to judicial schemes) and any powers exercisable by virtue of such regulations;
h
the power to make scheme regulations by virtue of section 61 (interest and process) and any powers exercisable by virtue of such regulations.
3
Treasury directions under this section may provide for amounts that are to be paid by or to a scheme in relation to a member, or any reduction or waiver of a liability to pay such amounts, to be determined—
a
taking into account the particular circumstances of the member and (if different) the person to whom or by whom the amount is to be paid or the liability is owed, or
b
without taking into account any or all of the particular circumstances of that person or those persons.
4
Treasury directions under this section that relate to the calculation and payment of interest, and variations and revocations of such directions, may only be made after consultation with the Government Actuary.
5
For the definition of “Treasury directions”, see section 75.