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Paragraph 23 Information and transfer day before 1st October 2023: protected membersF1

(1)

This paragraph applies—

(a)

where D was a full protection member of this Scheme before 1st April 2022,

(b)

where the transfer day in relation to a relevant pension sharing order was before 1st October 2023, and

(c)

whether or not C has a pension credit account in the reformed scheme under the relevant pension sharing order.

(2)

The Scheme manager must determine—

(a)

the initial appropriate amount;

(b)

the remediable appropriate amount.

(3)

The “initial appropriate amount” means the appropriate amount determined for the purposes of section 29(2) or (3) of WRPA 1999 in relation to D’s remediable shareable rights in this Scheme.

(4)

The remediable appropriate amount is the greater of—

(a)

the initial appropriate amount;

(b)

the reformed remediable appropriate amount.

(5)

Where the remediable appropriate amount is greater than the initial appropriate amount, C’s pension credit account is subject to an adjustment (a “remediable credit adjustment”) equal to the difference.

(6)

The Scheme manager must, as soon as reasonably practicable, provide C with a statement setting out—

(a)

the initial appropriate amount,

(b)

the reformed remediable appropriate amount,

(c)

the remediable appropriate amount,

(d)

the remediable credit adjustment, if any, and

(e)

where paragraph 26(4) applies in relation to C, an explanation of the request that may be made in accordance with paragraph 26(5) and the consequences of making, or not making, such a request.

(7)

In determining the remediable appropriate amount for the purposes of sub-paragraph (4), the percentage value for the purposes of section 29(2) WRPA 1999 is the percentage specified in the relevant pension sharing order in relation to this Scheme.

(8)

Where the relevant pension sharing order specifies an amount to be transferred, the Scheme manager must—

(a)

calculate the percentage (the “implied percentage”) that the amount to be transferred represented of the cash equivalent, on the valuation day, of all D’s shareable rights under this Scheme immediately before the transfer day;

(b)

determine the reformed remediable appropriate amount for the purposes of section 29(3) of WRPA 1999 by applying the implied percentage to the cash equivalent, on the valuation day, of the remediable relevant benefits as if they had been secured in the reformed scheme.

Annotations

Textual amendments

F1

Sch. 3 inserted (1.10.2023) by The Armed Forces Pensions (Remediable Service) Regulations 2023 (S.I. 2023/998), reg. 1(b), Sch. 2

Notes on Schedule 3

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