The Judicial Pensions (Remediable Service etc.) Regulations 2023
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Change 1
42 Transfers out of the 2015 scheme
(1) This regulation applies where a transfer value payment has, during the period of relevant service, been made under regulation 133 of the 2015 Regulations in respect of R’s accrued rights under the 2015 scheme. (2) The scheme manager must provide the appropriate person with a statement of the cash equivalent to which R was entitled, under a judicial legacy scheme, in respect of R’s accrued rights on the guarantee date in relation to the period of relevant service. (3) Where— (a) the value of the cash equivalent in respect of the sum specified in regulation 137(3)(a) of the 2015 Regulations, is less than (b) the value of the cash equivalent to which R was entitled under paragraph (2) in respect of that sum, the scheme manager must pay to the appropriate person an amount equal to the value of the difference. (4) The scheme manager is discharged from any further obligation to provide benefits to which the cash equivalent related. (5) In this regulation the “guarantee date” is the date specified in the statement of entitlement that was provided to R under regulation 135(1) of the 2015 Regulations in respect of the transfer value payment.
42 Transfers out of the 2015 scheme
(1) This regulation applies where a transfer value payment has, during the period of relevant service, been made under regulation 133 of the 2015 Regulations in respect of R’s accrued rights under the 2015 scheme. (2) The scheme manager must provide the appropriate person with a statement of the cash equivalent to which R was entitled, under a judicial legacy scheme, in respect of R’s accrued rights on the guarantee date in relation to the period of relevant service. (3) Where— (a) the value of the cash equivalent in respect of the sum specified in regulation 137(3)(a) of the 2015 Regulations, is less than (b) the value of the cash equivalent to which R was entitled under paragraph (2) in respect of that sum, the scheme manager must pay to the appropriate person an amount equal to the value of the difference. (4) The scheme manager is discharged from any further obligation to provide benefits to which the cash equivalent related. (5) In this regulation the “guarantee date” is the date specified in the statement of entitlement that was provided to R under regulation 135(1) of the 2015 Regulations in respect of the transfer value payment.
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