Paragraph 68 Netting offF1

(1)

This paragraph applies where—

(a)

relevant amounts owed by and to a person (“P”) fall to be paid at the same time or similar times, and

(b)

the Scheme manager has determined the interest (if any) that is to be paid on the relevant amounts in accordance with paragraph 65.

(2)

The Scheme manager may determine, in accordance with direction 19(2) to (5) of the PSP Directions 2022, that the relevant amounts (and any interest on them) must be aggregated and that the difference must be paid by P to the Scheme or (as the case may be) by the Scheme to P.

(3)

For the purposes of this paragraph, an amount owed by P under the rules of a relevant injury and compensation Scheme is treated as a relevant amount owed by P to this Scheme, where P’s liability arose by virtue of the operation of the provisions of Chapter 1 of Part 1 of PSPJOA 2022.

(4)

The following provisions of the PSP Directions 2022 apply in relation to a determination under sub-paragraph (2) as if it were a determination under direction 19(1) of those Directions—

(a)

direction 19(6) (provision of explanation);

(b)

direction 19(7) and (8) (appeals).

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