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Regulation 85 Pension sharing order activates pension sharing creating pension debits and creditsI1

Scotland Not yet in force

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

On the coming into effect of a pension sharing order–

(a)

the transferor’s shareable rights under the Scheme become subject to a debit of the appropriate amount (“pension debit”f1) as defined in regulation 86 (calculation of “appropriate amount”); and

(b)

the transferee becomes entitled to a credit of that amount (“pension credit”f2) as against the administering authority.

Annotations

Commencement

I1

Reg. 85 in force at 1.4.2009, see reg. 1

Footnotes

f1

This definition is that in section 29(1)(a) of the 1999 Act and under corresponding Northern Ireland legislation.

f2

This definition is that in section 29(1)(b) of the 1999 Act and under corresponding Northern Ireland legislation.