Regulation 11 Transfer values

(1)

Chapter 4 of Part 4 of the 1993 Act (protection for early leavers: transfer values) is modified as follows.

(2)

In the application of that Chapter to P as a member of the old scheme, in—

(a)

section 93(1)(a)^f1 (scope of Chapter 4),

(b)

section 97(3)(a) (calculation of cash equivalents), and

(c)

section 98(1A) and (3)^f2 (variation and loss of rights under section 94),

a reference to termination of P’s pensionable service is to be taken as a reference to termination of P’s pensionable service in relation to the new scheme.

Annotations

Footnotes

f1: Section 93(1)(a) was substituted by section 152(2) of the Pensions Act 1995 (c.26).
f2: Section 98(1A) was inserted by, and section 98(3) amended by, section 173 of, and paragraph 5 of Schedule 6 to, the Pensions Act 1995 (c.26).