Regulation 88

In regulation 9A M1 (aggregation adjustments etc.) for paragraph (6) substitute—

“(6)

A member with deferred benefits relating to the Earlier Schemes, who did not become a member of the 2014 Scheme by virtue of regulation 5(1) (membership of the 2014 Scheme), but who subsequently becomes an active member of the 2014 Scheme may—

(a)

within 12 months of the active member's pension account being opened; or

(b)

such longer period as the Committee permits,

elect to receive a transfer value payment in relation to the deferred benefits to be credited to the active member's pension account to purchase earned pension in accordance with actuarial guidance issued by the Department.”.