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The Firefighters’ Pensions (Remediable Service) Regulations 2023

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Changes over time for: Section 25

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There are currently no known outstanding effects for the The Firefighters’ Pensions (Remediable Service) Regulations 2023, Section 25. Help about Changes to Legislation

Information provided on or after 1st October 2023: recalculating D’s reduction of benefitE+W
This section has no associated Explanatory Memorandum

25.—(1) This regulation applies where D’s remediable relevant benefits are to be reduced in relation to a pension debit calculated under regulation 24(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 the 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 legacy scheme cash equivalent, the reformed scheme;

(ii)where the pension debit was calculated on the basis of the reformed scheme cash equivalent, the legacy scheme;

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

(c)the provisions of sections 29 and 31 of WRPA 1999.

Commencement Information

I1Reg. 25 in force at 1.10.2023, see reg. 1(b)

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