Regulation 58 Indirect compensationI1

Scotland

(1)

This regulation applies where, pursuant to an application under regulation 59, the scheme manager determines that an immediate choice member (“M”) has incurred a compensatable loss^f1 that is a Part 4 tax loss^f2 (a “relevant loss”).

(2)

M is not to be paid an amount under section F123 of PSPJOA 2022 by way of compensation in respect of the relevant loss.

(3)

Instead, the amount of benefit payable under a firefighters’ pension scheme is to be increased to reflect the amount of the relevant loss in such manner as determined by the scheme manager in accordance with direction 10(2) to (4) of the PSP Directions 2022.

Annotations

Textual amendments

F1: Word in reg. 58(2) substituted (23.6.2025 with effect from 1.10.2023) by The Firefighters’ Pensions (Remediable Service) (Scotland) Amendment Regulations 2025 (S.S.I. 2025/113), regs. 1(2), 2(14)

Commencement

I1: Reg. 58 in force at 1.10.2023, see reg. 1(b)

Footnotes

f1: See section 23 of PSPJOA 2022 and direction 11 of the PSP Directions 2022 for the meaning of “compensatable loss”.
f2: See section 23(9) of PSPJOA 2022 for the meaning of “Part 4 tax loss”.