Explanatory note

These Regulations are consequential upon the introduction of pension sharing by the Welfare Reform and Pensions Act 1999, and provide for the implementation of pension credits derived from a person’s rights under a judicial pension scheme. The effect is that the transferee is entitled to a pension and a lump sum calculated in such a way that their value, calculated in accordance with regulation 10 of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000^f1, is equal to the amount of the pension credit.