43.—(1) This regulation applies in relation to each remediable club transfer value in respect of a member (“M”) which was accepted by the scheme manager before 1st October 2023.
(2) The scheme manager may accept an adjustment in the value of a remediable club transfer value—
(a)in respect of the remediable rights to which the remediable club transfer value payment relates, and
(b)which is made by the sending scheme pursuant to, or to provision made under, PSPJOA 2022.
(3) An adjustment accepted under paragraph (2) is to be used for the purpose of determining M’s benefits under a civil service scheme on the same terms as the remediable club transfer value.
(4) The scheme manager must determine M’s remediable benefits as if the remediable club transfer value, together with any adjustment accepted under paragraph (2), were applied in respect of rights secured in—
(a)the PCSPS, and separately
(b)alpha.
Commencement Information
I1Reg. 43 in force at 1.10.2023, see reg. 1(b)