The National Health Service Pension Schemes (Remediable Service) Regulations 2023
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Change 1
25 Interpretation of Part 5
In this Part— “the 2000 Regulations” means the Pensions on Divorce etc. (Provision of Information) Regulations 2000; “appropriate amount” means the appropriate amount for the purposes of section 29(1) of WRPA 1999 (creation of pension debits and credits) determined in accordance with section 29(2) or (3) (whichever is relevant) of that Act but converted, where it is determined in accordance with section 29(3), into a percentage using the formula— (A x 100) / B where— A is the amount specified to be transferred, and B is the valuation of pension benefits at the valuation day provided by the scheme manager; “operative time” means— if an election under regulation 9 is made in relation to a corresponding pension debit member’s remediable service, the time the election is made or otherwise the end of the immediate choice election period; if an election under regulation 12 is made in relation to a corresponding pension debit member’s remediable service, the time the election is made or otherwise the end of the deferred choice election period; “remediable service shareable rights” means the shareable rights of a remedy member obtained by virtue of the remedy member’s remediable service during the period beginning with 1st April 2015 and ending with the earlier of— the day before the transfer day, and the last day of the member’s remediable service; “shareable rights” has the meaning given in section 27(2) of WRPA 1999 (scope of mechanism); “transfer day” has the meaning given in section 29(8) of WRPA 1999; “valuation day” has the meaning given in section 29(7) of WRPA 1999.
25 Interpretation of Part 5
In this Part— “the 2000 Regulations” means the Pensions on Divorce etc. (Provision of Information) Regulations 2000; “appropriate amount” means the appropriate amount for the purposes of section 29(1) of WRPA 1999 (creation of pension debits and credits) determined in accordance with section 29(2) or (3) (whichever is relevant) of that Act but converted, where it is determined in accordance with section 29(3), into a percentage using the formula— (A x 100) / B where— A is the amount specified to be transferred, and B is the valuation of pension benefits at the valuation day provided by the scheme manager; “operative time” means— if an election under regulation 9 is made in relation to a corresponding pension debit member’s remediable service, the time the election is made or otherwise the end of the immediate choice election period; if an election under regulation 12 is made in relation to a corresponding pension debit member’s remediable service, the time the election is made or otherwise the end of the deferred choice election period; “remediable service shareable rights” means the shareable rights of a remedy member obtained by virtue of the remedy member’s remediable service during the period beginning with 1st April 2015 and ending with the earlier of— the day before the transfer day, and the last day of the member’s remediable service; “shareable rights” has the meaning given in section 27(2) of WRPA 1999 (scope of mechanism); “transfer day” has the meaning given in section 29(8) of WRPA 1999; “valuation day” has the meaning given in section 29(7) of WRPA 1999.
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