Regulation 51 Club transfers in before 1 October 2023I1
Scotland
This regulation applies in relation to each remediable club transfer payment value in respect of a member (“M”) which was accepted by the scheme manager before 1 October 2023.
The scheme manager may accept an adjustment in the value of a remediable club transfer value—
in respect of the remediable rights to which the remediable club transfer value relates, and
which is made by the sending scheme pursuant to, or to provision made under, PSPJOA 2022.
An adjustment accepted under paragraph (2) is to be used for the purpose of determining the amount of pension M is entitled to count under a teacher pension scheme on the same terms as the remediable club transfer value mentioned in paragraph (1).
The scheme manager must determine the amount of pension M is entitled to count if the remediable transfer value together with any adjustment accepted under paragraph (2) were applied in respect of rights in—
M’s legacy scheme,
the reformed scheme.