Paragraph 17 Club transfers in before 1st October 2023F1

(1)

This paragraph applies in relation to each remediable club transfer value in respect of a remedy member (“M”) which was accepted by the scheme manager before 1st October 2023.

(2)

The remediable club transfer value—

(a)

is not, and is treated as never having been, accepted into this scheme, and

(b)

is treated as being, and as always having been, accepted into the relevant legacy pension scheme.

(3)

The rights to benefits in this scheme which would otherwise have been secured by the remediable club transfer value are extinguished.

(4)

The scheme manager must, as soon as reasonably practicable, provide M with a statement setting out—

(a)

the remediable club transfer value payments now treated as having been made to M’s relevant legacy pension scheme;

(b)

the corresponding adjustment to M’s pension account in this scheme.

Annotations

Textual amendments

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