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Paragraph 11 Calculation of transferred-in pensionable service

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Subject to paragraph (3), the period of pensionable service that a member is entitled to count under rule 10(2) of this Part shall be calculated as at the date on which the transfer value payment is received by the authority and in accordance with guidance and tables provided by the Scheme Actuary for the purpose.

(2)

For the purposes of that calculation, the member’s pensionable earnings are to be taken to be the amount of those earnings as at–

(a)

two months after the application under rule 8 of this Part is received; or

(b)

the date on which the transfer value payment is received,

whichever is the later; and, in a case where the transfer value payment is received earlier than two months after that application is received, any necessary adjustment shall be made to that calculation to reflect any change in the amount of those earnings.

(3)

If the transfer payment is accepted under public sector transfer arrangements, the period that the member is entitled to count shall be calculated–

(a)

subject to paragraph (4), in accordance with those arrangements; and

(b)

by reference to the guidance and tables provided by the Scheme Actuary for the purposes of this paragraph, that are in use on the date that is used by the transferring scheme for calculating the transfer value payment.

(4)

If the period that the member would be entitled to count would be greater if the transfer value payment were accepted otherwise than under public sector transfer arrangements–

(a)

those arrangements shall not apply; and

(b)

paragraph (1) of this rule shall apply instead.