Paragraph 2

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

sch 12 am by Teachers' Superannuation 2006 reg 12
sch 12 am by Teachers' Superannuation 2007 regs 2, 83
Sch 12, Pt I, paras 4, 5 am by Teachers' Superannuation 2005 regs 2, 23(1)–(3), 28
Sch 12, Pt II, para 12 am by Teachers' Superannuation 2005 regs 2, 23(1), (4), 28
Sch 12, Pt II, para 12A am by Teachers' Superannuation 2005 regs 2, 23(1), (5), 28
Sch. 12 substituted by Teachers' Superannuation 2015 reg. 17

Where–

(a)

a transfer value is payable to an approved pension or superannuation scheme which is not a club scheme; and

(b)

it falls to be calculated by reference to service rendered by the teacher before 21st October 1988,

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

A is a transfer value calculated in accordance with paragraph 1 in respect of the teacher’s reckonable service after 20th October 1988;
B is a transfer value calculated in accordance with paragraph 1 in respect of the teacher’s reckonable service before 21st October 1988; and
C is a transfer value calculated as if Schedule 10 to the 1977 Regulations^f1, as in force on 5th April 1988, had continued in force, in respect of his or her service before 21st October 1988.

Annotations

f1: S.I. 1977/1360. Schedule 10 was substituted by S.I. 1988/1618 and amended by S.I. 1989/666. The 1977 Regulations are revoked in their entirety (see Schedule 1 to these Regulations).