Paragraph 12 Information provided before 1st October 2023: applying a remediable credit adjustmentF1

(1)

This paragraph applies where C’s pension credit account is subject to a remediable credit adjustment.

(2)

The scheme manager must adjust C’s pension credit account in this scheme by an amount equal to the remediable credit adjustment.

(3)

An adjustment made under sub-paragraph (2) has effect as if it had been made on the transfer day.

(4)

Section 14(3) to (6) of PSPJOA 2022 applies in relation to C as it applies in relation to a member described in section 14(1) as if—

(a)

a reference to D’s remediable service in an employment or office were a reference to C’s pension credit;

(b)

a reference to the effect, if any, of sections 2(1) and 6(4) were a reference to the effect, if any, of this paragraph;

(c)

the term “operative time” means the time at which the adjustment mentioned in sub-paragraph (2) is made (disregarding sub-paragraph (3)).

Annotations

F1: Sch. inserted (1.10.2023) by The Armed Forces Pensions (Remediable Service) Regulations 2023 (S.I. 2023/998), reg. 1(b), Sch. 7