OpenLegislation

Regulation 4N Statutory underpin: effect of uplift of Tier 3 benefits to Tier 2 benefitsF1C1

(1)

This regulation applies in relation to an eligible member—

(a)

who takes payment of Tier 3 benefits under regulation 35(7) of the 2013 Regulations; and

(b)

whose Tier 3 benefits subsequently cease—

(i)

by virtue of being awarded Tier 2 benefits under regulation 37(7)(b) or (10) of the 2013 Regulations, or

(ii)

for a different reason but who is awarded Tier 2 benefits following a request for review made by the eligible member under regulation 37(10) within 3 years of those benefits ceasing.

(2)

Where this regulation applies—

(a)

any final guarantee amount relating to the eligible member’s Tier 3 pension ceases to be payable;

(b)

the eligible member’s provisional assumed benefits and provisional underpin amount are recalculated (in accordance with regulations 4I and 4J respectively) from the date on which the eligible member became entitled to Tier 3 benefits as if the member was entitled to Tier 2 benefits from that date; and

(c)

the amounts recalculated under sub-paragraph (a) are to be used to recalculate the eligible member’s final assumed benefits and final underpin amounts (in accordance with regulations 4K and 4L respectively).

(3)

The recalculated final assumed benefits and final underpin amount are to be used to determine the eligible member’s final guarantee amount (“the recalculated final guarantee amount”).

(4)

The recalculated final guarantee amount is to have applied to it such revaluation adjustment or index rate adjustment as would have applied had it been in payment from the date the Tier 3 benefits commenced.

(5)

The recalculated final guarantee amount is to be added to the eligible member’s pension account.

(6)

Notwithstanding regulation 4B(3), the amount to be added under paragraph (5) is to be added from the date the eligible member is awarded Tier 2 benefits.

Annotations

Textual amendments

F1

Regs. 4A-4V inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 2(4)

Modifications

C1

Regs. 4A-4V restricted (14.7.2026 for the tax year 2014-15 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2026 (S.I. 2026/673), regs. 1(2)(5), 15