http://www.legislation.gov.uk/uksi/2023/871/part/6/chapter/2/crossheading/transfers-on-or-after-1st-october-2023/madeThe Teachers’ Pension Scheme (Remediable Service) Regulations 2023enKing's Printer of Acts of Parliament2023-07-26PUBLIC SERVICE PENSIONS, ENGLAND AND WALESThe Public Service Pensions Act 2013 (c. 25) (“PSPA 2013”) makes provision, and confers powers to make further provision (in the form of “scheme regulations” as defined in section 1 of PSPA 2013), about the establishment of public service pension schemes. The Teachers’ Pension Scheme Regulations 2014 (S.I. 2014/512) (“the 2014 Regulations”) are the scheme regulations establishing the successor teacher pension scheme (“the reformed scheme”) to the scheme established by the Teachers’ Pensions Regulations 2010 (S.I. 2010/990) (“the legacy scheme”). The 2014 Regulations provided for transitional protection for certain cohorts of legacy scheme members. This transitional protection was subsequently found to unlawfully discriminate between teacher pension scheme members on the basis of age.PART 6TransfersCHAPTER 2Transfers on a cash equivalent basis
SECTION 2Transfers on or after 1st October 2023Application of Section 248.

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 202349.(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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This Section applies in respect a deferred choice member (“
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