Regulation 9 Incorrect amount transferred

(1)

Paragraph (2) applies where—

(a)

an amount in respect of the cash equivalent of the transferor's transferable rights has been transferred into F1the EU scheme (“the transferred amount”); and

(b)

it subsequently transpires that the cash equivalent of the transferor's transferable rights was greater than the transferred amount.

(2)

The Secretary of State shall transfer into the EU scheme an amount equal to the difference between—

(a)

the cash equivalent of the transferor's transferable rights and the transferred amount; and

(b)

the interest accrued under regulation 10 on the cash equivalent of the transferor's transferable rights and the interest accrued under that regulation on the transferred amount.

Annotations

Textual amendments

F1: Words in regs. 6-9 substituted (1.11.2010) by The Transfer of State Pensions and Benefits (Amendment) Regulations 2010 (S.I. 2010/1825), regs. 1, 5