Paragraph 44 Transfers in before 1st April 2022F1

(1)

This paragraph applies in relation to each remediable transfer value in respect of a member (“M”) which was accepted by the Scheme manager during the remedy period.

(2)

The Scheme manager, having regard to the advice of the Scheme actuary, must determine M’s remediable benefits as if the remediable transfer value together with any payment accepted under sub-paragraph (3) were applied in respect of rights in—

(a)

this Scheme;

(b)

the reformed scheme.

(3)

Where the sending scheme was a reformed public service pension scheme, the Scheme manager may accept an additional payment representing an adjustment—

(a)

in respect of the remediable rights to which the remediable transfer value relates, and

(b)

which is made by the sending scheme pursuant to, or to provision made under, PSPJOA 2022.

(4)

A payment accepted under sub-paragraph (3) is to be used for the purpose of determining M’s remediable benefits on the same terms as the remediable transfer value.

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