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The Teachers’ Pension Scheme (Remediable Service) Regulations 2023

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Change 1

What to do with it
As published

53 Club transfers out on or after 1st October 2023

(1) This regulation applies in relation to a remediable club transfer value to be paid by the scheme manager on or after 1st October 2023. (2) The scheme manager must calculate the following amounts— (a) the club transfer value of M’s rights under a teacher pension scheme as if M’s remediable rights had been secured in M’s legacy scheme; (b) the club transfer value of M’s rights under a teacher pension scheme as if M’s remediable rights had been secured in the reformed scheme. (3) The amount of the remediable club transfer value is the greater of the amounts calculated under paragraph (2). (4) The scheme manager must provide to the receiving scheme the result of the calculations mentioned in paragraph (2).

Your change, as a redline

53 Club transfers out on or after 1st October 2023

(1) This regulation applies in relation to a remediable club transfer value to be paid by the scheme manager on or after 1st October 2023. (2) The scheme manager must calculate the following amounts— (a) the club transfer value of M’s rights under a teacher pension scheme as if M’s remediable rights had been secured in M’s legacy scheme; (b) the club transfer value of M’s rights under a teacher pension scheme as if M’s remediable rights had been secured in the reformed scheme. (3) The amount of the remediable club transfer value is the greater of the amounts calculated under paragraph (2). (4) The scheme manager must provide to the receiving scheme the result of the calculations mentioned in paragraph (2).

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Who it helps, what it costs, what it fixes. It is what persuades people to support it.

How this law is officially changed

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Questions to start with
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