The Teachers’ Pension Scheme (Remediable Service) Regulations 2023
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Change 1
29 Election in relation to remediable voluntary contributions
(1) This regulation applies where— (a) a remedy member (“M”) has paid remediable voluntary contributions to secure a reformed scheme flexibility, and (b) M is— (i) an immediate choice member and, at the time M made the election pursuant to which those remediable voluntary contributions were paid, M was under 65; (ii) a deferred choice member. (2) This regulation applies separately in relation to each reformed scheme flexibility secured by M’s remediable voluntary contributions. (3) The scheme manager must, as soon as is practicable after making the determinations mentioned in regulation 28(1)(b) in relation to M, give written notice to the relevant decision-maker. (4) The notice must set out— (a) the rights secured by virtue of any remediable voluntary contributions paid by M; (b) the effect on those rights if, as the case may be— (i) a section 6 election or a section 10 election is made in relation to M’s remediable teacher service, or (ii) no section 6 election or section 10 election is made in relation to M’s remediable teacher service; (c) the fact that the relevant decision-maker may make an election (an “RVC election”) in accordance with paragraph (5), and the consequences of making or not making an RVC election; (d) the form and manner by which the RVC election must be communicated to the scheme manager; (e) the time by which the RVC election must be received by the scheme manager; (f) the fact that the RVC election is irrevocable. (5) The relevant decision-maker may elect that— (a) rights to alternative legacy scheme additional pension are to be conferred, (b) the scheme manager owes M or, if M is deceased, M’s personal representatives an amount by way of compensation equal to the compensatable amount, or (c) except where— (i) M is an immediate choice member, or (ii) M is a deferred choice member who has died, the scheme manager owes M an amount by way of compensation equal to the compensatable amount and that amount is to be waived by virtue of an agreement under regulation 39(2). (6) An election may only be made— (a) during the period of six months beginning on the day after written notice is given in accordance with this regulation, or (b) at such later time as the scheme manager considers reasonable in all the circumstances. (7) An election under paragraph (5) is irrevocable. (8) In this regulation— “relevant decision-maker” means— where M is an immediate choice member, the immediate choice decision-maker in relation to M; where M is a deferred choice member, the deferred choice decision-maker in relation to M.
29 Election in relation to remediable voluntary contributions
(1) This regulation applies where— (a) a remedy member (“M”) has paid remediable voluntary contributions to secure a reformed scheme flexibility, and (b) M is— (i) an immediate choice member and, at the time M made the election pursuant to which those remediable voluntary contributions were paid, M was under 65; (ii) a deferred choice member. (2) This regulation applies separately in relation to each reformed scheme flexibility secured by M’s remediable voluntary contributions. (3) The scheme manager must, as soon as is practicable after making the determinations mentioned in regulation 28(1)(b) in relation to M, give written notice to the relevant decision-maker. (4) The notice must set out— (a) the rights secured by virtue of any remediable voluntary contributions paid by M; (b) the effect on those rights if, as the case may be— (i) a section 6 election or a section 10 election is made in relation to M’s remediable teacher service, or (ii) no section 6 election or section 10 election is made in relation to M’s remediable teacher service; (c) the fact that the relevant decision-maker may make an election (an “RVC election”) in accordance with paragraph (5), and the consequences of making or not making an RVC election; (d) the form and manner by which the RVC election must be communicated to the scheme manager; (e) the time by which the RVC election must be received by the scheme manager; (f) the fact that the RVC election is irrevocable. (5) The relevant decision-maker may elect that— (a) rights to alternative legacy scheme additional pension are to be conferred, (b) the scheme manager owes M or, if M is deceased, M’s personal representatives an amount by way of compensation equal to the compensatable amount, or (c) except where— (i) M is an immediate choice member, or (ii) M is a deferred choice member who has died, the scheme manager owes M an amount by way of compensation equal to the compensatable amount and that amount is to be waived by virtue of an agreement under regulation 39(2). (6) An election may only be made— (a) during the period of six months beginning on the day after written notice is given in accordance with this regulation, or (b) at such later time as the scheme manager considers reasonable in all the circumstances. (7) An election under paragraph (5) is irrevocable. (8) In this regulation— “relevant decision-maker” means— where M is an immediate choice member, the immediate choice decision-maker in relation to M; where M is a deferred choice member, the deferred choice decision-maker in relation to M.
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