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SECTION 2Transfers on or after 1st October 2023
Application of Section 2
48. This Section applies in respect a deferred choice member (“M”) where no pension benefits have become payable in relation to M’s remediable teacher service.
Transfers out on or after 1st October 2023
49.—(1) This regulation applies to a remediable transfer value paid in relation to M by the scheme manager on or after 1st October 2023.
(2) The scheme manager, having consulted the scheme actuary, must calculate the transfer value of M’s remediable rights as if those rights had been in—
(a)M’s legacy scheme;
(b)the reformed scheme.
(3) The amount of the remediable transfer value is the greater of the amounts calculated under paragraph (2).
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