Regulation 24 Transfer values

for the words “material date”, wherever they appear, there shall be substituted the words “guarantee date”;

in sub-paragraph (1)(a) the words from “less a sum” to “those rights” shall be deleted; and

in sub-paragraph (1)(b) for the words “regulation 4(4)(a) of the Occupational Pension Schemes (Transfer Values) Regulations 1985” there shall be substituted the words “regulation 10(2) of the Occupational Pension Schemes (Transfer Values) Regulations 1996^f1”;

in sub-paragraph (b) after the words “guaranteed minimum pensions” and in sub-paragraph (c) after the words “guaranteed minimum pension” there shall be inserted the words “or his accrued right so far as attributable to service in contracted-out employment on or after 6th April 1997”; and

for the words from “of a state scheme premium” to the end there shall be substituted the words “sufficient to meet the liability in respect of the teacher’s and his widow’s or, as the case may be, her widower’s pensions being guaranteed pensions or pensions so far as attributable to service in contracted-out employment on or after 6th April 1997 and that person’s protected rights”.