Paragraph 3A F1

England, Wales and Scotland

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

Sch. 3 para. 3A omitted by Pension Schemes Act 2015 Sch. 1 para. 9
Sch. 3 para. 4 omitted by Pension Schemes Act 2015 Sch. 1 para. 9
Sch. 3 para. 5(1) words substituted by Pension Schemes Act 2015 Sch. 1 para. 10
Sch. 3 para. A1 and cross-heading inserted by Pension Schemes Act 2015 Sch. 1 para. 8

The cash balance method of revaluing a F2benefit is to revalue the available sum in respect of the benefit in any way in which it would have been revalued if the member’s pensionable service had not terminated.

Annotations

Textual amendments

F1: Sch. 3 para. 3A and cross-heading inserted (24.7.2014) by The Pensions Act 2011(Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1954), regs. 1(2), 3(3) (with reg. 2)
F2: Word in Sch. 3 para. 3A substituted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 3 para. 5; S.I. 2022/721, regs. 1(2), 3(a)

Notes on Schedule 3

Commencement

I1: Schs. 1-4 in force at 7.2.1994 by S.I. 1994/86, art. 2