Paragraph 26 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 in accordance with paragraphs 23(5), 24(5) or 25(5).

(2)

The Scheme manager must adjust C’s pension credit account 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)

Where C has a pension credit in the reformed scheme by virtue of the relevant pension sharing order, C may request that the value of the remediable credit adjustment is instead credited to C’s pension credit account in the reformed scheme.

(5)

A request under sub-paragraph (4) must—

(a)

be made by C in writing to the Scheme manager,

(b)

be in a form determined by the Scheme manager,

(c)

unambiguously identify C’s pension credit account in the reformed pension scheme, and

(d)

be received by the Scheme manager by—

(i)

the end of the day twelve months after the date on which the statement required by paragraphs 23(6), 24(6) or 25(6) was sent to C, or

(ii)

the end of such later day that the Scheme manager considers reasonable in all the circumstances.

(6)

A request made in accordance with sub-paragraph (5) is irrevocable.

(7)

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

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