20.—(1) A valuation of benefits of a person who is a member of the 2014 Scheme shall, for the purposes of a pension sharing order which has an effective date on or after 1st April 2014, take account of any benefits the member has accrued in the Earlier Schemes.
(2) The beneficiary of an order of the type described in paragraph (1) is not to be credited with any benefits under the Earlier Schemes, but is entitled to a pension credit under the 2014 Scheme in compliance with the pension sharing order and calculated in accordance with actuarial guidance issued by the Secretary of State.
(3) Where a pension sharing order requires a pension debit in respect of a percentage of a member’s pension benefits, any benefits accrued in the Earlier Schemes or 2014 Scheme shall be debited by the same percentage unless the order specifies otherwise, with the debit being calculated in accordance with actuarial guidance issued by the Secretary of State.
(4) Where a pension sharing order requires a pension debit in terms other than a percentage of a member’s pension benefits, the debit is to apply in proportion to the cash equivalent transfer value of the benefits accrued within the Earlier Schemes and the 2014 Scheme unless the order specifies otherwise.