Solon does not know this law's official route yet. The proposal is recorded all the same, and the route appears here once its source is added.
200 provisions
111 Contributions during absence from work due to illness, injury, trade dispute or authorised absence
(1) An active member away from scheme employment by reason of illness or injury must pay contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions) multiplied by the amount of any pensionable pay received, including statutory pay.
(2) If an active member is absent from scheme employment by reason of illness or injury and is not entitled to receive pensionable pay (including statutory pay) for any period that member may elect to pay contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions) multiplied by the amount of pay received immediately before the cessation of pay and if required by the scheme employer, pay the amount of employer contribution which the scheme employer would otherwise be required to pay by regulation 117(3) (employer contributions).
(3) If an active member is absent on a trade dispute, the member may elect to pay the contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions) multiplied by the assumed pensionable pay that member is treated as receiving and if required by the scheme employer, pay the amount of employer contribution which the scheme employer would otherwise be required to pay by regulation 117(3) (employer contributions).
(4) If an active member is away from work during a period of authorised unpaid absence, the member may elect to pay contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions) multiplied by the assumed pensionable pay that member is treated as receiving and if required by the scheme employer, pay the amount of employer contributions which the scheme employer would otherwise be required to pay by regulation 117(3) (employer contributions).
(5) Where paragraph (2), (3) or (4) applies, the contributions must be paid before the end of the period of six months starting with the date on which the member is treated as receiving assumed pensionable pay.
112 Contributions during absence from work on reserve forces service leave
(1) An active member (P), who is on reserve forces service leave and who is treated as receiving assumed pensionable pay, must pay contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions).
(2) The amount of the contributions paid is calculated by multiplying the contribution rate by the lesser of the following amounts—
(a) assumed pensionable pay;
(b) the total of the actual pay received and any additional payment made by the scheme employer.
(1) An active member on child-related leave must pay contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions) multiplied by any pensionable pay received, including statutory pay but that pay does not include any amount that reduces the member’s actual pensionable pay on account of possible entitlement to statutory pay.
(2) If an active member is on ordinary maternity leave, paternity leave or ordinary adoption leave and is not entitled to receive pensionable pay (including statutory pay) for any of that period, that member is treated for the purposes of these Regulations as if that member had paid contributions for that unpaid period under paragraph (1).
(3) An active member on additional maternity leave, ... additional adoption leave , shared parental leave , parental bereavement leave or parental leave who is not entitled to receive any pensionable pay (including statutory pay) for any of the period of child-related leave, may elect to pay contributions at the contribution rate ascertained in accordance with regulation 110 (member contributions) multiplied by the assumed pensionable pay that member is treated as receiving.
(4) An election to pay contributions may only be made before the end of the period of 30 days starting with the date on which that member returns to work after the period of child-related leave, or if the member does not return to work, the day on which the member ceases to be employed by the employer.
(1) The contributions required to be paid under regulation 110 (member contributions) may be deducted by the scheme employer from each instalment of pensionable pay as it becomes due unless another method of payment has been agreed between the scheme manager and the member.
(2) Contributions required to be paid under regulation 112(1) (contributions during absence from work on reserve forces service leave) may be deducted from any payment made under Part 5 of the Reserve and Auxiliary Forces (Protection of Civil Interests) Act 1951, to the extent that they are payable in respect of the same period.
(3) Contributions which the member has elected to pay, or is required to pay, under regulations 111 (contributions during absence from work due to illness, injury, trade dispute or authorised absence) and 113 (contributions during child-related leave) may be paid by a lump sum or by deduction from instalments of pensionable pay as agreed between the scheme manager and the member.
116 Refund of all member contributions and payments for extra pension made by member
(1) This regulation applies in relation to a continuous period of pensionable service under the scheme.
(2) All member contributions and payments resulting from the election to make additional pension contributions under Schedule 1 are refundable if—
(a) regulation 15 (opting out before the end of the first three months) applies; or
(b) the member ceases to be in pensionable service under this scheme and—
(i) the member has less than three months qualifying service,
(ii) if a transfer payment has been received by this scheme in relation to the member it was from another occupational pension scheme, and
(iii) the member has not reached GMP age under this scheme.
(3) If paragraph (2)(b) applies, the member is entitled to be paid an amount equal to the sum of any member contributions and payments for added pension made by the member, less an amount equal to the income tax payable under section 205 of FA 2004 (short service refund lump sum charge) as a result of a refund of those contributions and payments.
(4) If all member contributions and payments for added pension made by the member are refunded under this regulation, the member’s rights under this scheme in relation to the period of pensionable service are extinguished.
(1) The Secretary of State must determine after consultation with the scheme actuary the employer contribution rate.
(2) The employer of an active member of this scheme must pay contributions at the employer contribution rate on that member’s pensionable earnings.
(3) The employer of an active member who is treated under regulation 18 (meaning of “assumed pensionable pay”) as receiving assumed pensionable pay must pay contributions at the employer contribution rate of the assumed pensionable pay that the member is treated as receiving.
(4) The Secretary of State must notify the scheme manager of the employer contribution rate and the date from which this will take effect.
(5) In these Regulations, “employer contribution” means the contributions payable under paragraph (2) or (3) of this regulation.
118 Employer additional contribution: ill-health award
(1) Where a member (H) has retired with an entitlement to the immediate payment of a higher tier ill-health pension and a lower tier ill-health pension under regulation 65(2) (entitlement to lower tier ill-health pension and higher tier ill-health pension), H’s employer must pay a higher tier ill-health additional contribution.
(2) The amount of the higher tier ill-health additional contribution is the amount determined and notified to H’s employer by the Secretary of State.
(3) Where a member (L) has retired with an entitlement to the immediate payment of a lower tier ill-health pension and without any entitlement to a higher tier ill-health pension, L’s employer must pay a lower tier ill-health additional contribution.
(4) The amount of the lower tier ill-health additional contribution is the amount determined and notified to L’s employer by the Secretary of State.
(5) The employer must pay the higher tier ill health additional contribution or the lower tier ill health additional contribution, as the case may be, in equal instalments due on:
(a) the date on which the member retires;
(b) 1st April of the financial year following the financial year in which the first instalment was paid;
(c) 1st April of the financial year following the financial year in which the second instalment was paid.
119 Refund of employer additional contribution for ill health award following review
(1) Subject to paragraph (2), where the scheme manager has considered the entitlement of a member (P) to an ill-health award under regulation 68 (review of ill-health award or early payment of retirement pension) and as a consequence of that review the entitlement of P to either a higher tier ill-health pension or a lower tier ill-health pension has ceased, or the entitlement of P to both pensions has ceased, the scheme manager must pay the amount in paragraph (3) or (5), as the case may be, to the employer.
(2) Where the employer has paid all the instalments of higher tier ill-health additional contributions required by regulation 118 (employer additional contribution: ill-health award), the scheme manager is not required to pay the employer the amount mentioned in paragraph (3).
(3) Where P, as a result of a review under regulation 68 (review of ill-health award or early payment of retirement pension), ceases to be entitled to a higher tier ill-health pension and remains entitled to a lower tier ill-health pension, the scheme manager must pay an amount equal to the difference between the instalments of higher tier ill-health additional contribution which have been paid under regulation 118(1) (employer additional contribution: ill-health award) and the instalments of the lower tier ill-health additional contribution which would have been required to be paid under regulation 118(3) (employer additional contribution: ill-health award) if only the lower tier ill-health pension had been payable (“the notional payment”).
(4) The scheme manager must determine the amount of the notional payment payable under paragraph (3).
(5) Where P, as a result of a review under regulation 68 (review of ill-health award or early payment of retirement pension), ceases to be entitled to a higher tier ill health pension and to a lower tier ill-health pension or to a lower tier ill-health pension as the case may be and the employer has not paid all the instalments of higher tier ill-health additional contribution or lower tier ill-health additional contribution as required by regulation 118 (employer additional contribution ill-health award), the scheme manager must repay to the employer any instalments of higher tier ill-health additional contribution or lower tier ill-health additional contribution as the case may be, which have been paid in respect of P from the date that the entitlement ceased and no further instalments will be due in respect of P.
(1) Where an employer has made a determination under regulation 62 (employer initiated retirement) to pay an active member who has not attained normal pension age a pension calculated in accordance with regulation 59 (annual rate of retirement pension (active members)) without making the early payment reduction, the employer must pay the employer initiated retirement additional contribution.
(2) The amount of the employer initiated retirement additional contribution is calculated in accordance with actuarial guidance and that actuarial guidance must have regard to the difference between the pension that is payable under regulation 62 (employer initiated retirement) and the pension payable under regulation 59 (annual rate of retirement pension (active members)) reduced in accordance with regulation 61(3) (early payment reduction).
In this Part—
“FPF” has the meaning given in regulation 122 (establishment of Firefighters’ Pension Fund);
“estimate” means the information referred to in regulation 125(1)(a) and (b) (information to be provided to the Secretary of State);
“relevant financial year” means a financial year ending on or after 31st March 2016 in respect of which the scheme manager is required by regulation 125(1) to provide information to the Secretary of State;
“revised estimate” means the revised information referred to in regulation 125(4);
“the audited information” means—
the audited accounts referred to in regulation 125(1)(d),
any report by the auditor in relation to those accounts, and
if the scheme manager revises the information referred to in regulation 125(1)(e) and (f), that revised information;
“the un-audited information” means the information referred to in regulation 125(1)(c), (e) and (f).
The Firefighters’ Pension Fund (“FPF”) established and maintained by the scheme manager for the purposes of the 1992 Scheme, and used by the scheme manager for payments and receipts required or authorised to be made under the NFPS, must also be used for the purpose of payments and receipts required or authorised to be made under these Regulations.
The scheme manager must pay into the FPF—
(a) any employer contribution paid by the employer which is required by regulation 117 (employer contributions);
(b) any employer additional contribution by the employer in respect of a higher tier ill health pension which is required by regulation 118(1) (employer additional contribution: ill-health award);
(c) any employer additional contribution paid by the employer in respect of a lower tier ill health pension which is required by regulation 118(3) (employer additional contribution: ill-health award);
(d) any employer additional contribution paid by the employer in respect of an employer initiated retirement which is required by regulation 120(1) (employer additional contribution: employer initiated retirement);
(e) any member contributions paid under regulation 110 (member contributions), regulation 111 (contributions during absence from work due to illness, injury, trade dispute or authorised absence), regulation 112 (contributions during absence from work on reserve forces service leave), or regulation 113 (contributions during child-related leave);
(f) any member contributions for added pension paid under Schedule 1 (payments for added pension);
(g) any club transfer value payment received; and
(h) any transfer value payment received.
124 Payments to be made from the Firefighters’ Pension Fund
The scheme manager must make payments out of the FPF in respect of the following—
(a) any repayment of a member’s contributions and payments required by regulation 116 (refund of all member contributions and payments for extra pension made by member);
(b) any refund of the amount of the employer additional contribution for an ill-health award under regulation 119 (refund of employer additional contribution for ill-health award following review);
(c) any pension or award payable under this scheme;
(d) any club transfer value payment to be paid in respect of a member’s accrued benefits in this scheme; and
(e) any transfer value payment required to be paid in respect of a member’s accrued benefits in this scheme.
125 Information to be provided to the Secretary of State
(1) The scheme manager must for each financial year ending on or after 31st March 2016 (“relevant financial year”) send the following information in writing to the Secretary of State—
(a) the total amount that the scheme manager estimates will be payable out of the FPF in that financial year;
(b) the total amount that the scheme manager estimates will be credited to the FPF in that financial year;
(c) the un-audited accounts relating to the FPF for that financial year;
(d) the audited accounts relating to the FPF for that financial year;
(e) the total amount paid out of the FPF in that financial year; and
(f) the total amount paid into the FPF in that financial year.
(2) The information in paragraph (1) must be sent in the form specified in writing by the Secretary of State.
(3) Subject to paragraph (7), the scheme manager must send the estimate for each relevant financial year to the Secretary of State by such date before the start of the relevant financial year as the Secretary of State, may, in writing, specify.
(4) If the scheme manager revises any of the information sent in the estimate, the scheme manager may send the revised information (“the revised estimate”) to the Secretary of State by such date during the relevant financial year as the Secretary of State may, in writing, specify.
(5) The scheme manager must send the un-audited information to the Secretary of State by such date after the end of the relevant financial year as the Secretary of State may, in writing, specify.
(6) The scheme manager must send the audited information to the Secretary of State by such date after the end of the financial year as the Secretary of State may, in writing, specify.
(7) In relation to the relevant financial year ending on 31st March 2016 the scheme manager must send the estimate to the Secretary of State as soon as practicable after the start of that financial year.
(1) Where, having taken into account the estimate, and any other relevant information, it appears to the Secretary of State that the total amount likely to be payable out of the FPF in the relevant financial year will exceed the total amount likely to be payable into that FPF in that year, the Secretary of State must pay an amount to the scheme manager equal to 80% of the likely deficit.
(2) Where, having taken into account any revised estimate and any other relevant information, it appears to the Secretary of State that—
(a) the total amount likely to be payable out of the FPF in the relevant financial year will exceed the total amount likely to be paid into the FPF in that year; and
(b) 80% of the likely deficit is more than—
(i) the amount paid or payable by the Secretary of State to the scheme manager under paragraph (1) of this regulation in relation to the relevant financial year, or
(ii) where no such amount was paid or payable by the Secretary of State, zero,
the Secretary of State may pay to the scheme manager such amount as the Secretary of State thinks fit.
(3) Where the Secretary of State has paid an amount to a scheme manager under paragraphs (1) and (2), the total of these amounts must not exceed 80% of the likely deficit of the FPF for that year.
(4) Where the Secretary of State pays an amount to a scheme manager under paragraph (2), any amount paid or payable by that scheme manager to the Secretary of State in relation to the relevant financial year under regulation 127(1) (estimated surpluses) must not be paid, or if paid, the Secretary of State must repay it.
(5) The Secretary of State must make the payment to the scheme manager under paragraph (1) before the end of July of the relevant financial year or as soon as practicable thereafter.
(6) Where the Secretary of State makes a payment under paragraph (2) or a repayment under paragraph (4), the payment or repayment must be made before the end of the relevant financial year or as soon as reasonably practicable thereafter.
(1) Where, having taken into account the estimate, and any other relevant information, it appears to the Secretary of State that the total amount likely to be paid into the FPF in the relevant financial year will exceed the total amount likely to be payable out of the FPF in that year, the Secretary of State must require the scheme manager to pay to the Secretary of State an amount equal to 80% of the likely surplus.
(2) Where, having taken into account any revised estimate and any other relevant information available, it appears to the Secretary of State that—
(a) the total amount likely to be paid into the FPF in the relevant financial year will exceed the total amount likely to be payable out of the FPF in that year; and
(b) 80% of the likely surplus is more than—
(i) the amount paid or payable by the scheme manager to the Secretary of State under paragraph (1) in relation to the relevant financial year, or
(ii) where no such amount was paid or payable by the scheme manager, zero,
the Secretary of State may require the scheme manager to pay to the Secretary of State such amount as the Secretary of State may by notice in writing specify.
(3) Where the scheme manager has paid an amount to the Secretary of State under paragraphs (1) and (2), the total of these amounts must not exceed 80% of the likely surplus of the FPF for that year.
(4) Where the Secretary of State requires the scheme manager to pay an amount under paragraph (2), any amount paid or payable by the Secretary of State to the scheme manager in relation to the relevant financial year under regulation 126(1) (estimated deficits) must not be paid, or if paid, the scheme manager must repay it.
(5) The Secretary of State must give to the scheme manager, on or before 3rd March of the relevant financial year, written notice of the amount of any payment or repayment that the Secretary of State requires the scheme manager to make under paragraph (1), (2) or (4).
(6) Where the scheme manager is required to make a payment under paragraphs (1) or (2) or to make a repayment under paragraph (4), the payment must be made before the end of the relevant financial year or as soon as reasonably practicable thereafter.
(1) Where, having taken into account the un-audited information, and any other relevant information available, it appears to the Secretary of State that the total amount likely to be payable out of the FPF in the relevant financial year exceeds the total amount likely to be paid or payable to the FPF in that year—
(a) where the likely deficit (“the un-audited deficit”) exceeds the total of any amount paid or payable to the scheme manager in relation to that year under regulation 126(1) or (2) (estimated deficits) (“the regulation 126 total”), the Secretary of State must pay to the scheme manager the amount of the un-audited deficit less the regulation 126 total;
(b) where the un-audited deficit is less than the regulation 126 total, the amount of the regulation 126 total less the un-audited deficit is not payable under regulation 126(1) or (2) and, if already paid, the scheme manager must repay that amount to the Secretary of State;
(c) where no amount was paid or payable by the Secretary of State to the scheme manager in relation to the relevant financial year under regulation 126(1) or (2), the Secretary of State must pay to the scheme manager the amount of the un-audited deficit; and
(d) any amount paid or payable to the Secretary of State in relation to that year under regulation 127(1) or (2), is not payable and, if already paid, the Secretary of State must repay it to the scheme manager.
(2) Where, having taken into account the audited information and any other relevant information available, it appears to the Secretary of State that the total amount paid or payable out of the FPF in the relevant year exceeds the total amount paid or payable into the FPF in that year—
(a) where the difference between those total amounts (“the audited deficit”) exceeds the total of any amounts paid (but not repaid or repayable) or payable to the scheme manager in relation to that year under paragraph (1)(a) or (c) or regulation 126(1) or (2) (“the un-audited total”), the Secretary of State must pay to the scheme manager the amount of the audited deficit less the un-audited total;
(b) where the audited deficit is less than the un-audited total, the amount of the un-audited total less the audited deficit is not payable under paragraphs (1)(a) or (c) or regulation 126(1) or (2) (estimated deficits) and, if already paid, the scheme manager must repay it to the Secretary of State;
(c) where no amount was paid or payable by the Secretary of State to the scheme manager in relation to the relevant financial year under paragraphs (1)(a) or (c) or regulation 126(1) or (2), the Secretary of State must pay to the scheme manager the amount of the audited deficit; and
(d) any amount paid or payable to the Secretary of State in relation to the relevant financial year under regulation 127(1) or (2) or regulation 129(1)(a) or (c), is not payable and, if already paid, the Secretary of State must repay it to the scheme manager.
(3) Where the Secretary of State, or the scheme manager, as the case maybe, is required to make a payment or repayment under paragraph (1), it must be made before the end of July in the financial year following the relevant financial year (“the second year”) or as soon as reasonably practicable thereafter.
(4) Where the Secretary of State or the scheme manager, as the case maybe, is required to make a payment or repayment under paragraph (2), it must be made before the end of July in the financial year following the second year or as soon as reasonably practicable thereafter.
(1) Where, having taken into account the un-audited information, and any other relevant information available, it appears to the Secretary of State that the total amount paid into the FPF in the relevant financial year exceeds the total amount paid out of that FPF in that year—
(a) where the difference between those total amounts (“the un-audited surplus”) exceeds the total of any amounts paid or payable to the Secretary of State by the scheme manager in relation to that year under regulation 127(1) or (2) (“the regulation 127 total”), the Secretary of State must require the scheme manager to pay to the Secretary of State the amount of the un-audited surplus less the regulation 127 total;
(b) where the un-audited surplus is less than the regulation 127 total, the amount of the regulation 127 total less the un-audited surplus is not payable under regulation 127(1) or (2) and, if already paid, the Secretary of State must repay it to the scheme manager;
(c) where no amount was paid or payable to the Secretary of State by the scheme manager in relation to the relevant financial year under regulation 127(1) or (2), the Secretary of State must require the scheme manager to pay to the Secretary of State the amount of the un-audited surplus; and
(d) any amount paid or payable by the Secretary of State to the scheme manager in relation to that year under regulation 126(1) or (2), is not payable and, if already paid, the scheme manager must repay it to the Secretary of State.
(2) Where, having taken into account the audited information and any other relevant information available, it appears to the Secretary of State that the total amount paid into the FPF in the relevant financial year exceeds the total amount payable out of that FPF in that year—
(a) where the difference between those total amounts (“the audited surplus”) exceeds the total of any amounts paid (but not repaid or repayable) or payable to the Secretary of State by the scheme manager in relation to that year under paragraph (1)(a) or (c) or regulation 127(1) or (2) (estimated surpluses) (“the un-audited regulation 127 total”), the Secretary of State must require the scheme manager to pay to the Secretary of State out of the FPF the amount of the audited surplus less the un-audited regulation 127 total;
(b) where the audited surplus is less than the un-audited regulation 127 total, the amount of the un-audited regulation 127 total less the audited surplus is not payable under paragraphs (1)(a) or (c) or regulation 127(1) or (2) and, if already paid, the Secretary of State must repay it to the scheme manager;
(c) where no amount was paid or payable to the Secretary of State by the scheme manager in relation to the relevant financial year under paragraphs (1)(a) or (c) or regulation 127(1) or (2), the Secretary of State must require the scheme manager to pay to the Secretary of State the amount of the audited surplus; and
(d) any amount paid or payable by the Secretary of State to the scheme manager in relation to that year under regulation 126(1) or (2) (estimated deficits) or regulation 128(1)(a) or (c) (actual deficits) is not payable and, if already paid, the scheme manager must repay it to the Secretary of State.
(3) The Secretary of State must give to the scheme manager, on or before 3rd July in the financial year after the relevant financial year (“the second year”), written notice of the amount of the payment that the Secretary of State requires the scheme manager to make under paragraph (1)(a) or (c).
(4) Where the Secretary of State or the scheme manager, as the case maybe, is required to make a payment or repayment under paragraph (1), it must be made before the end of July in the second year or as soon as reasonably practicable thereafter.
(5) The Secretary of State must give to the scheme manager, on or before 3rd July in the financial year that is the second financial year after the relevant financial year (“the third year”), written notice of the amount of any payment that the Secretary of State requires the scheme manager to make under paragraph (2)(a) or (c).
(6) Where the Secretary of State or the scheme manager, as the case maybe, is required to make a payment or repayment under paragraph (2) of this regulation, it must be made before the end of July in the third year or as soon as reasonably practicable thereafter.
(1) The scheme manager must provide the Secretary of State with such information relevant to the exercise of the Secretary of State’s functions under this Part as the Secretary of State may, by written notice, require.
(2) The scheme manager must provide the information required within the period of time specified by the Secretary of State in that notice or within such additional period as may be allowed by the Secretary of State.
This Part—
(a) supplements the rights conferred by or under Chapter 4 of Part 4 of PSA 1993 (transfer values) and is without prejudice to that Chapter; and
(b) supplements the rights conferred by or under Chapter 5 of that Part (early leavers: cash transfer sums and contribution refunds) and is without prejudice to that Chapter.
In this Part—
“cash equivalent” means an amount calculated in accordance with regulations made under section 97 of PSA 1993;
“club transfer value” means, in relation to an amount of accrued earned pension under this scheme or under another club scheme, an amount calculated by the scheme manager—
in accordance with the club transfer arrangements, and
by reference to the guidance and tables provided by the Government Actuary for this purpose that are in use on the date used for the calculation;
“guarantee date” has the meaning given in regulation 135 (statement of entitlement);
“guaranteed cash equivalent” means, in relation to calculating the transfer value of accrued rights to benefits under this scheme, the cash equivalent of those benefits as at the guarantee date, as specified in a statement of entitlement;
“statement of entitlement”, in relation to an active or deferred member’s accrued rights to benefits under this scheme, means a statement by the scheme manager of the cash equivalent or club transfer value of those benefits as at the guarantee date;
“transfer value” means, for accrued rights to benefits other than accrued earned pension which is the subject of a club transfer—
for accrued rights to benefits under this scheme, an amount equal to—
the guaranteed cash equivalent of those benefits, or
the guaranteed cash equivalent together with any increase payable under regulation 137 (calculating amount of a transfer value or club transfer value), and
for accrued rights to benefits under another pension scheme, an amount—
determined by the scheme actuary of that scheme, and
specified in a statement of accrued rights provided by the scheme manager of that scheme.
133 Transfer payments made to other schemes or pension arrangements
(1) A transfer payment may only be made in respect of the accrued rights to benefits of an active or deferred member of this scheme.
(2) A transfer payment may only be made to—
(a) a registered pension scheme that is not a connected scheme; or
(b) a pension arrangement that is a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004 (see section 169(2) of that Act).
(3) A transfer payment may not be made in respect of rights that are attributable (directly or indirectly) to a pension credit.
(4) A member may only require the scheme manager to use a transfer payment in a way specified in section 95(2) of PSA 1993.
(5) A member may only require the scheme manager to make a club transfer value payment during the period of 12 months beginning with the day on which the member becomes eligible to be an active member of the scheme to which the payment is to be made.
(6) The whole of the transfer payment must be made in accordance with the provisions of this regulation.
(7) If section 96(2) of PSA 1993 (trustees or managers of certain receiving schemes or arrangements able and willing to accept a transfer payment only in respect of the member’s other rights) applies, benefits attributable to the following may be excluded from the transfer payment—
(a) the member’s accrued rights to a guaranteed minimum pension; or
(b) the member’s accrued rights attributable to service in contracted-out employment, within the meaning of Part 3 of PSA 1993, on or after 6th April 1997.
(1) This regulation applies in relation to an active or deferred member of this scheme (P) who requires a transfer payment to be made in respect of P’s accrued rights to benefits under this scheme.
(2) Before requesting this transfer payment, P must apply for a statement of entitlement by written notice to the scheme manager.
(3) P may withdraw the application by written notice to the scheme manager at any time before the statement is provided.
(4) P may make a second application in the period of 12 months beginning with the date of the first application.
(1) The scheme manager must specify in the statement of entitlement the date by reference to which the cash equivalent or club transfer value is calculated (“the guarantee date”).
(2) Unless paragraph (4) applies, the guarantee date must fall within both the following periods—
(a) the three months beginning with the date of the member’s application for the statement of entitlement (“the three month period”); and
(b) the 10 days ending with the date on which the member is provided with that statement (“the 10 day period”).
(3) In counting the 10 day period, Saturdays, Sundays, Christmas Day, New Year’s Day and Good Friday are excluded.
(4) The scheme manager may specify in the statement of entitlement a guarantee date that falls within the six months beginning with the date of the member’s application for the statement of entitlement if—
(a) for reasons beyond the control of the scheme manager, the information needed to calculate the amount of the cash equivalent or club transfer value cannot be obtained before the end of the three month period; and
(b) the scheme manager considers it reasonable to specify a guarantee date that falls outside the three month period.
(1) An active or a deferred member of this scheme who is provided with a statement of entitlement may request a transfer payment to be made in respect of the member’s accrued rights to benefits under this scheme.
(2) The request for transfer payment must be made by written notice to the scheme manager and specify the pension scheme or other pension arrangement to which the transfer payment is to be made.
(3) A deferred member must exercise the right to apply for the payment of a club transfer value on the earlier of the day before the deferred member attains the deferred pension age and the end of the period of 12 months beginning with the date on which the deferred member ceased to be an active member of the scheme.
(4) A deferred member must exercise the right to apply for the payment of a transfer value on or before the day before the deferred member attains the deferred pension age.
(5) Subject to paragraph (6), the member by written notice to the scheme manager may withdraw the request at any time before the transfer payment is made.
(6) The member may not withdraw the request if an agreement for the use of the whole or part of the transfer payment has already been entered into with a third party.
137 Calculating the amount of a transfer value or club transfer value
(1) Subject to paragraphs (2) and (3), the amount of the transfer value is to be calculated in accordance with actuarial guidance as at the guarantee date.
(2) If a transfer value is paid later than six months after the guarantee date, the amount of the guaranteed cash equivalent must be increased in accordance with regulations made under section 97 (calculation of cash equivalents) of PSA 1993.
(3) If a club transfer value is paid later than six months after the guarantee date, the amount of the club transfer value as specified in the statement of entitlement must be increased if necessary so that it is equal to the amount it would have been if the guarantee date had been the date on which the payment is made.
(4) If the transfer value or club transfer value is less than the minimum transfer value, the amount of the transfer value or club transfer value must be increased so that it is equal to the amount of the minimum transfer value.
(5) In this regulation—
“the minimum transfer value” means the total of—
the sum of all member contributions and added pension payments made by the member; and
the sum of all transfer payments received by this scheme in relation to the member.
In this Chapter—
“another pension scheme” means—
another occupational pension scheme that is a registered pension scheme but is not a connected scheme,
a qualifying recognised overseas pension scheme for the purposes of Part 4 of FA 2004, or
a personal pension scheme;
“club transfer value statement” means a statement under regulation 144 (club transfer value statement) of the amount of club transfer earned pension;
“transfer date” means the earlier of—
if the scheme manager has provided a transfer statement or a club transfer value statement, the last day of the period of two months beginning with the date of the statement, or
the day on which the transfer payment is received by the scheme manager;
“transfer payment request” means a request to the scheme manager under this Chapter that a transfer payment be accepted from another pension scheme;
“transfer statement” means a statement under regulation 142 (transfer statement).
(1) P may by written notice to the scheme manager request that a transfer payment be accepted in respect of some or all of P’s accrued rights under another pension scheme.
(2) A transfer payment request—
(a) must specify—
(i) the pension scheme from which the transfer payment is requested to be made, and
(ii) the anticipated amount of the transfer payment; and
(b) subject to paragraph (3), must be made before the beginning of the period of one year ending with the date on which the member reaches normal pension age.
(3) A request that a transfer payment be accepted from a non-occupational pension scheme must be made during the period of one year beginning with the day on which the member becomes an active member or such longer period as the scheme manager may allow.
(4) On receiving a transfer payment request, the scheme manager may accept the transfer payment.
(1) This regulation applies in relation to—
(a) a request for a transfer payment to be accepted from another pension scheme that is not a club scheme; and
(b) a request for a transfer payment in respect of added pension to be accepted from another club scheme.
(2) The scheme manager may require that, before making a transfer payment request, P must ask the scheme manager of the other scheme to provide a statement of the amount of transferred pension, calculated in accordance with actuarial guidance, that P will be entitled to count under regulation 143 (amount of transferred pension) provided that the transfer date falls within the period of two months beginning with the date of that statement.
(1) This regulation applies in relation to—
(a) any transfer payment received in relation to P from another pension scheme that is not a club scheme; and
(b) any transfer payment in respect of added pension received in relation to P from another club scheme.
(2) For the scheme year in which the transfer date falls, the amount of transferred pension P is entitled to count in respect of the transfer payment is—
(a) the amount specified in the transfer statement; or
(b) if such a statement is not provided or is not calculated in accordance with actuarial guidance, an amount calculated by the scheme manager in accordance with actuarial guidance.
(1) This regulation applies in relation to a request for a club transfer value payment to be accepted from another club scheme.
(2) The scheme manager may require that, before making the transfer payment request, P must ask the scheme manager of the sending scheme to provide a statement of the amount of club transfer earned pension, calculated in accordance with actuarial guidance, that P will be entitled to count under regulation 145 (amount of club transfer earned pension) if the transfer date falls within the period of two months beginning with the date of that statement.
(3) The statement must specify the basis on which an amount of accrued earned pension is revalued under the sending scheme while a member is in pensionable service under that scheme.
(1) This regulation applies in relation to a club transfer value payment received from another club scheme.
(2) For the scheme year in which the transfer date falls, the amount of club transfer earned pension P is entitled to count is—
(a) the amount specified in the club transfer value statement; or
(b) if such a statement is not provided, an amount calculated by the scheme manager in accordance with actuarial guidance.
146 Requirement for scheme manager to provide a certificate
(1) A scheme manager must provide an active member who has ceased to be employed by that employer in scheme employment and has taken up scheme employment with another authority, with a certificate stating—
(a) the entries in the pension account, or pension accounts if more than one, at the date of the certificate;
(b) the period of pensionable service in the scheme employment, or employments, with the employer; and
(c) the date on which the certificate is given.
(2) Where a deferred member has taken up scheme employment with another authority after a gap in pensionable service not exceeding five years, that member must request the scheme manager in relation to the earlier period of pensionable service to provide the member with a certificate stating—
(a) the entries in the pension account, or pension accounts if more than one, at the date of the certificate;
(b) the period of pensionable service in the scheme employment, or employments, with that employer;
(c) the date on which the member had ceased to be employed in scheme employment by that employer; and
(d) the date on which the certificate is given.
(3) Where a scheme manager is required to provide a certificate under paragraph (1), and the scheme manager had established an added pension account for that member that scheme manager must provide the member with a certificate stating—
(a) the entries in the added pension account at the date of the certificate;
(b) the date on which the certificate is given; and
(c) details of the member’s added pension election where the contributions period has not ended.
(4) Where a scheme manager is required to provide a certificate under paragraph (2), or where a deferred member intends to make an added pension election having taken up scheme employment after a gap in pensionable service exceeding five years, and the scheme manager in relation to a previous period of pensionable service had established an added pension account, that scheme manager must provide the member with a certificate, where the member requests one, stating—
(a) the entries in the pension account at the date of the certificate;
(b) the date on which the member had ceased to be employed in scheme employment by that employer; and
(c) the date on which the certificate is given.
(5) Where an active member has two or more active member’s accounts with two or more different scheme managers, and that member intends to make, or has made an added pension election, that member may request a certificate from the scheme manager who established the added pension account so that that certificate may be provided to another scheme manager (“B”) in respect of a different active member’s account so that the entries may be transferred to an added pension account established by B.
(6) The scheme manager must provide a certificate under this regulation—
(a) within three months of the date on which the active member leaves scheme employment; or
(b) within three months of the date on which the deferred member notifies the scheme manager of the new scheme employment.
Where a member has been provided with a certificate under regulation 146 (requirement for scheme manager to provide a certificate) and is dissatisfied with the information stated on the certificate, that member may within the period of three months commencing on the date on which the certificate was received, request the scheme manager who provided the certificate to confirm the accuracy of the information contained in it or to provide an amended certificate.
(1) Where a member (P) is not satisfied with the entries on the certificate, or amended certificate, after P has made a request under regulation 147 (request to confirm details on certificate), P may, by written notice given to the scheme manager who provided the certificate within 28 days of the notification date, require the scheme manager to deal with the disagreement by means of arrangements implemented by it pursuant to the requirements of section 50 of the Pensions Act 1995 (resolution of disputes) and the Occupational Pension Schemes (Internal Dispute Resolution Procedures Consequential and Miscellaneous Amendments) Regulations 2008.
(2) In paragraph (1) “the notification date” is the date on which P is treated as having received from the scheme manager confirmation of the certificate provided or provision of an amended certificate following P’s request under regulation 147 (request to confirm details on certificate).
(1) A member who has been provided with a certificate under paragraph (1), (2), (3) or (4) of regulation 146 (requirement for scheme manager to provide a certificate) must give the certificate to that member’s new scheme employer.
(2) The new scheme employer must request the scheme manager who gave the certificate to confirm that the member has provided certificates in respect of all pension accounts for which that employer was the scheme manager.
(3) After the confirmation has been provided by the scheme manager, the new scheme employer must transfer the appropriate entries from the certificate provided to the new active member’s pension account which has been established under regulation 31 (establishment of active member’s account) and where the member had an added pension account transfer the appropriate entries from the certificate provided in respect of that account to the new added pension account established under regulation 38 (establishment of added pension account).
(4) When the transfer of entries has been completed under paragraph (3), the new scheme manager must inform the former scheme manager that the transfer has taken place and the former scheme manager must close all pension accounts relating to the certificates provided in respect of that member.
(5) If the number of pension accounts in respect of which details have been provided by the former scheme manager under paragraph (1) or (2) of regulation 146 (requirement for scheme manager to provide a certificate) is greater than the number of active member’s accounts established by the new scheme manager, the member must decide, following consultation with the new scheme manager, from which pension account entries should be transferred to the new active member’s account or accounts and notify the former scheme manager of this.
(6) Where paragraph (5) applies and there are one or more pension accounts from which entries are not transferred, those accounts must be closed and the former scheme manager must establish a deferred member’s account in respect of each of those accounts.
(7) Where a member has taken up scheme employment with two or more employers and intends to make an added pension election, the member may choose to which scheme manager the certificate provided under paragraph (3) or (4) of regulation 146 (requirement for scheme manager to provide a certificate) is to be given.
(8) The scheme manager is not required to make any payment to the new scheme manager in connection with the transfer of a pension account.
150 Appointment of scheme actuary and actuarial valuations
(1) The Secretary of State must appoint an individual to provide a consulting service on actuarial matters in relation to this scheme and any connected scheme.
(2) The scheme actuary is responsible for—
(a) carrying out valuations of this scheme and any connected scheme; and
(b) preparing reports on the valuations.
(3) Before appointing an individual as scheme actuary the Secretary of State must be satisfied that the individual is appropriately qualified to carry out valuations of this scheme and any connected scheme in accordance with Treasury directions made under section 11 of the 2013 Act (the “Treasury directions”).
(4) The scheme manager must provide the scheme actuary with any data that the scheme actuary requires in order to carry out a valuation and prepare a report on the valuation.
(5) A valuation of the scheme and any connected scheme and the preparation of a report on the valuation must be carried out in accordance with the Treasury directions.
(6) Valuations of the scheme must be carried out within a time-frame which enables requirements in the Treasury directions regarding dates which are applicable to the valuation to be met.