OpenLegislation

Regulation 25 Transitional provisions

Original text. Later amendments are not shown.

(1)

Regulations 10 to 15 and 19 and 20 shall not have effect–

(a)

in relation to–

(i)

any person who has completed 5 or more years' reckonable service and qualifying service as a pensionable employee, or

(ii)

any person to whom regulation C12(12) of the principal Regulations applies and who has not received a return of contributions,

and whose local government employment ceased before 1st January 1986 (or who ceased to be subject to the principal Regulations before that date), so as to allow him to exercise an option under regulation J2 of the principal Regulations which would not have been available to him had these Regulations not been made; or

(b)

in relation to–

(i)

payments of transfer values made by the fund authority to club schemes in respect of which an application was received by that authority before 6th April 1988, or

(ii)

payments of transfer values made by such schemes to the fund authority, in respect of which an application was received by the scheme before that date,

unless both the fund authority and the trustees or managers of the scheme agree otherwise.

(2)

Where–

(a)

a transfer value is payable to the trustees or managers of an approved non-local government scheme which is not a club scheme, and

(b)

the reckonable service to which it relates includes reckonable service which the person was entitled to reckon as reckonable service before 6th April 1988,

the amount of the transfer value shall be the total of A and the greater of B and C, where–

  • A is a notional transfer value, calculated in accordance with Part J of the principal Regulations (as amended by these Regulations), in respect of the person’s reckonable service after 5th April 1988,

  • B is a notional transfer value, calculated on the same basis, in respect of his reckonable service before 6th April 1988, and

  • C is a notional transfer value, calculated as if Part J of the principal Regulations, as in force on 5th April 1988, had continued in force, in respect of his reckonable service before 6th April 1988.