Regulation 24 Information provided on or after 1 October 2023: calculation of pension credits and debitsI1
Scotland
This regulation applies where D is—
a deferred choice member and no pension benefits have become payable in relation to D’s remediable service as a firefighter, or
an immediate choice pension member, and—
the end F1... of the section 6 election period in relation to D has not passed, and
no immediate choice decision has been made in relation to D’s remediable service as a firefighter.
For the purpose of calculating the appropriate amount, the scheme manager must determine—
the cash equivalent of D’s remediable relevant benefits on the valuation day as if those remediable relevant benefits were in D’s legacy scheme (“the legacy scheme cash equivalent”), and
the cash equivalent of those benefits on valuation day as if they were in the reformed scheme (“the reformed scheme cash equivalent”).
For the purpose of calculating the pension credit and the pension debit, the scheme manager must use the greater of—
the legacy scheme cash equivalent, or
the reformed scheme cash equivalent.
Annotations
Textual amendments
- F1
Word in reg. 24(1)(b)(i) omitted (23.6.2025 with effect from 1.10.2023) by virtue of The Firefighters’ Pensions (Remediable Service) (Scotland) Amendment Regulations 2025 (S.S.I. 2025/113), regs. 1(2), 2(11)