Paragraph F.10 Calculation of transferred-in reckonable service
United Kingdom
The period of reckonable service that a member is entitled to count under rule F.9(2) is calculated as at the date on which the transfer payment is received by the Scheme and in accordance with guidance and tables provided by the Scheme actuary for the purpose.
This is subject to paragraph (3).
For the purposes of that calculation the member’s pensionable earnings are to be taken to be the amount of those earnings as at—
two months after the application under rule F.7 is received, or
the date on which the transfer value payment is received,
whichever is the later, and, in a case where the transfer value payment is received earlier than two months after that application is received, any necessary adjustment is to be made to that calculation to reflect any change in the amount of those earnings.
If the transfer value payment is accepted under the public sector transfer arrangements, the period the member is entitled to count is calculated—
in accordance with those arrangements, and
by reference to the guidance and tables provided by the Government Actuary for the purposes of this paragraph, that are in use on the date that is used by the transferring scheme for calculating the transfer value payment.
Notes on Schedule 1
Modifications
- C1
Schs. 1-3 modified (14.7.2026 for the tax year 2014-15 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2026 (S.I. 2026/673), regs. 1(2), 10