The National Health Service Pension Schemes (Remediable Service) Regulations 2023
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45 Remediable transfer value payments made on or after 1st October 2023 that are not made under public sector transfer arrangements
(1) This regulation applies in relation to a member (“M”) in respect of whom the scheme manager makes a remediable transfer value payment on or after 1st October 2023. (2) Where this regulation applies, the scheme manager must, after having regard to the advice of the scheme actuary, calculate the transfer value of M’s remediable rights as if they had been secured in— (a) the 1995 Section or the 2008 Section (whichever is relevant); (b) the 2015 scheme. (3) The amount of the remediable transfer value is the greater of the amounts calculated under paragraph (2).
45 Remediable transfer value payments made on or after 1st October 2023 that are not made under public sector transfer arrangements
(1) This regulation applies in relation to a member (“M”) in respect of whom the scheme manager makes a remediable transfer value payment on or after 1st October 2023. (2) Where this regulation applies, the scheme manager must, after having regard to the advice of the scheme actuary, calculate the transfer value of M’s remediable rights as if they had been secured in— (a) the 1995 Section or the 2008 Section (whichever is relevant); (b) the 2015 scheme. (3) The amount of the remediable transfer value is the greater of the amounts calculated under paragraph (2).
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