29.—(1) This regulation applies where—
(a)a remedy member (“M”) has rights to PCSPS added pension—
(i)secured by voluntary contributions made pursuant to a periodic arrangement which commenced during the period of M’s remediable service, or
(ii)conferred under regulation 28(4) in place of extinguished rights to alpha added pension, and
(b)the benefits payable in relation to M’s remediable service are, by virtue of a section 6 election (including a deemed section 6 election) or a section 10 election, alpha benefits.
(2) The scheme manager must, having consulted the scheme actuary, vary the rights to PCSPS added pension so that they are equivalent to the added pension rights that would have been secured in alpha if the voluntary contributions that originally secured the rights mentioned in paragraph (1)(a) had been paid to alpha in the same relevant pension year in which the voluntary contribution was paid.
Commencement Information
I1Reg. 29 in force at 1.10.2023, see reg. 1(b)