Regulation 2.K.9 Treatment of 2008 Section Optants to whom regulation R9 of the 1995 Regulations applied immediately before 1st April 2008F1
This regulation applies to a 2008 Section Optant—
whose earnings in respect of pensionable employment in the 1995 Section were reduced;
whose employer certified that the reduction in sub-paragraph (a) occurred in the circumstances described in paragraph (2) of regulation R9 of the 1995 Regulations (members whose earnings are reduced);
who, subject to the agreement of the Secretary of State, would, on retirement or death, have become entitled to have a preserved pension calculated and paid as described in regulation L1 of the 1995 Regulations (preserved pension) in respect of pensionable service in the 1995 Section before the Optant’s earnings were reduced; and
whose benefits on retirement or death would, but for this regulation, be calculated in accordance with Chapters 2.D and 2.E.
For the purpose of calculating the benefits on retirement or death of a 2008 Section Optant referred to in paragraph (1), the Optant may, where it would be more beneficial to the Optant, be treated—
as a deferred member of this Section of the Scheme in respect of any period of pensionable service credited to that Optant under regulation 2.K.3 that relates to one or more periods of pensionable service in the 1995 Section before that Optant’s earnings were reduced as described in paragraph (1) (“a protected service credit”), and
as if the Optant became an active member for the first time on the first day of any period of pensionable service credited to that Optant under regulation 2.K.3 that relates to a period of pensionable service in the 1995 Section after that Optant’s earnings were reduced as described in paragraph (1).
This is subject to paragraph (3).
The Optant’s benefits in respect of a protected service credit mentioned in paragraph (2)(a) shall be calculated—
separately, and
by reference to the final year’s pensionable pay calculated in accordance with regulation C1 of the 1995 Regulations (meaning of pensionable pay and final year’s pensionable pay) in respect of that particular period.