The National Health Service Pension Schemes (Remediable Service) Regulations 2023
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Change 1
41 Transfer value payments made to the 2015 scheme that are not made under public sector transfer arrangements: treatment as if accepted under the legacy scheme: immediate choice members and deceased members
(1) This regulation applies to a remedy member— (a) who has pensionable service under the legacy scheme by virtue of section 2(1) of PSPJOA 2022; (b) who— (i) is an immediate choice member, or (ii) is a member who died before 1st October 2023; (c) in respect of whom— (i) an immediate choice election may be made or treated by the scheme manager as having been made in accordance with regulation 9; (ii) the scheme manager has accepted a transfer value payment in relation to the member that is a non-club transfer for the purposes of 2015 regulation 143 and, in respect of that payment, the member is entitled to an increase in the member’s pensionable earnings and has been credited with a period of pensionable service under paragraph (2) of that regulation; and (iii) the 2015 scheme joining date in relation to the transfer value payment referred to in paragraph (ii) falls within the period of that member’s remediable service. (2) Where this regulation applies, on the acceptance of an election referred to in paragraph (1)(c)(i) in respect of a member or at the end of the immediate choice election period if no such election is accepted— (a) all the remedy member’s rights secured by the transfer value payment mentioned in paragraph (1)(c)(ii) are extinguished; (b) the scheme manager must treat the payment as if it had been accepted for the purposes of— (i) 1995 regulation N3 where, pursuant to section 2(1) of PSPJOA 2022, the remedy member’s remediable service is treated as being pensionable service under the 1995 Section, or (ii) 2008 regulation 2.F.11 or 2008 regulation 3.F.11 (whichever is relevant) where, pursuant to section 2(1) of PSPJOA 2022, the remedy member’s remediable service is treated as being pensionable service under the 2008 Section; (c) in respect of the payment, the member is entitled to count the additional period of pensionable service or the increase in pensionable earnings set out in paragraph (3) or (4) (whichever is relevant); and (d) paragraph (5) applies if the scheme manager determines that the benefits payable in respect of the member’s remediable service are 2015 scheme benefits. (3) If the scheme manager treats the transfer value payment as if it had been accepted for the purposes of the 1995 Regulations, in respect of the payment the member is entitled to— (a) an additional period of pensionable service calculated in accordance with 1995 regulation N3, or (b) count an increase in the member’s pensionable earnings calculated in accordance with paragraph 18 of Schedule 2 to the 1995 Regulations. (4) If the scheme manager treats the transfer value payment as if it had been accepted for the purposes of the 2008 Regulations, in respect of the payment the member is entitled to— (a) an additional period of pensionable service calculated in accordance with paragraphs (1) to (4) of 2008 regulation 2.F.11, or (b) count an increase in the member’s pensionable earnings calculated in accordance with paragraphs (1) to (4) of 2008 regulation 3.F.11. (5) Where this paragraph applies (see paragraph (2)(d)), the scheme manager must, after having regard to the advice of the scheme actuary, vary the member’s rights to benefits in respect of the additional period of pensionable service or increase in pensionable earnings referred to in paragraph (3) or (4) (whichever is relevant) so that those rights are of an equivalent value to the rights the member would have secured if the transfer payment or transfer value payment (whichever is relevant) had been accepted for the purposes of 2015 regulation 143.
41 Transfer value payments made to the 2015 scheme that are not made under public sector transfer arrangements: treatment as if accepted under the legacy scheme: immediate choice members and deceased members
(1) This regulation applies to a remedy member— (a) who has pensionable service under the legacy scheme by virtue of section 2(1) of PSPJOA 2022; (b) who— (i) is an immediate choice member, or (ii) is a member who died before 1st October 2023; (c) in respect of whom— (i) an immediate choice election may be made or treated by the scheme manager as having been made in accordance with regulation 9; (ii) the scheme manager has accepted a transfer value payment in relation to the member that is a non-club transfer for the purposes of 2015 regulation 143 and, in respect of that payment, the member is entitled to an increase in the member’s pensionable earnings and has been credited with a period of pensionable service under paragraph (2) of that regulation; and (iii) the 2015 scheme joining date in relation to the transfer value payment referred to in paragraph (ii) falls within the period of that member’s remediable service. (2) Where this regulation applies, on the acceptance of an election referred to in paragraph (1)(c)(i) in respect of a member or at the end of the immediate choice election period if no such election is accepted— (a) all the remedy member’s rights secured by the transfer value payment mentioned in paragraph (1)(c)(ii) are extinguished; (b) the scheme manager must treat the payment as if it had been accepted for the purposes of— (i) 1995 regulation N3 where, pursuant to section 2(1) of PSPJOA 2022, the remedy member’s remediable service is treated as being pensionable service under the 1995 Section, or (ii) 2008 regulation 2.F.11 or 2008 regulation 3.F.11 (whichever is relevant) where, pursuant to section 2(1) of PSPJOA 2022, the remedy member’s remediable service is treated as being pensionable service under the 2008 Section; (c) in respect of the payment, the member is entitled to count the additional period of pensionable service or the increase in pensionable earnings set out in paragraph (3) or (4) (whichever is relevant); and (d) paragraph (5) applies if the scheme manager determines that the benefits payable in respect of the member’s remediable service are 2015 scheme benefits. (3) If the scheme manager treats the transfer value payment as if it had been accepted for the purposes of the 1995 Regulations, in respect of the payment the member is entitled to— (a) an additional period of pensionable service calculated in accordance with 1995 regulation N3, or (b) count an increase in the member’s pensionable earnings calculated in accordance with paragraph 18 of Schedule 2 to the 1995 Regulations. (4) If the scheme manager treats the transfer value payment as if it had been accepted for the purposes of the 2008 Regulations, in respect of the payment the member is entitled to— (a) an additional period of pensionable service calculated in accordance with paragraphs (1) to (4) of 2008 regulation 2.F.11, or (b) count an increase in the member’s pensionable earnings calculated in accordance with paragraphs (1) to (4) of 2008 regulation 3.F.11. (5) Where this paragraph applies (see paragraph (2)(d)), the scheme manager must, after having regard to the advice of the scheme actuary, vary the member’s rights to benefits in respect of the additional period of pensionable service or increase in pensionable earnings referred to in paragraph (3) or (4) (whichever is relevant) so that those rights are of an equivalent value to the rights the member would have secured if the transfer payment or transfer value payment (whichever is relevant) had been accepted for the purposes of 2015 regulation 143.
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