The National Health Service Pension Schemes (Remediable Service) Regulations 2023
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Change 1
62 Indirect compensation
(1) This regulation applies where pursuant to an application under regulation 61 the scheme manager determines that a person has incurred a compensatable loss under section 23 of PSPJOA 2022 that is a Part 4 tax loss as defined in subsection (9) of that section (“relevant loss”) and the relevant loss is a reduction of benefit. (2) The relevant loss must not be paid by way of compensation under section 23 of PSPJOA 2022. (3) Instead, the amount of benefits payable under the legacy scheme must be increased to reflect the amount of the relevant loss in such manner as is determined by the scheme manager in accordance with direction 10(2) to (4) of the 2022 Directions.
62 Indirect compensation
(1) This regulation applies where pursuant to an application under regulation 61 the scheme manager determines that a person has incurred a compensatable loss under section 23 of PSPJOA 2022 that is a Part 4 tax loss as defined in subsection (9) of that section (“relevant loss”) and the relevant loss is a reduction of benefit. (2) The relevant loss must not be paid by way of compensation under section 23 of PSPJOA 2022. (3) Instead, the amount of benefits payable under the legacy scheme must be increased to reflect the amount of the relevant loss in such manner as is determined by the scheme manager in accordance with direction 10(2) to (4) of the 2022 Directions.
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