Public Service Pensions and Judicial Offices Act 2022
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Change 1
19 Pension credit members
(1) Scheme regulations for a Chapter 1 scheme may make provision about the benefits payable to or in respect of a relevant pension credit member and the corresponding pension debit member. (2) In this section “relevant pension credit member”, in relation to a Chapter 1 scheme, means a member of the scheme who has rights under the scheme— (a) which are attributable (directly or indirectly) to a pension credit, and (b) the value of which was determined (to any extent) by reference to the value of benefits payable in respect of the remediable service in an employment or office of another member. (3) In this section “the corresponding pension debit member”, in relation to a relevant pension credit member, means the member mentioned in subsection (2)(b). (4) The provision that may be made under subsection (1) includes provision under which— (a) the pension debit of the corresponding pension debit member is adjusted where an election under section 6 (immediate choice) or section 10 (deferred choice) is made in relation to the member’s remediable service; (b) the pension credit of a relevant pension credit member is adjusted on the assumption that an election under section 6 or 10 is made in relation to the remediable service of the corresponding pension debit member (regardless of whether it in fact is). (5) Provision made under subsection (1) must include provision under which, in a case in which the corresponding pension debit member in relation to a relevant pension credit member has mixed service, any pension credit retained by the relevant pension credit member under the scheme is of a value determined by reference to the value of benefits payable under only one Chapter 1 scheme. (6) For the purposes of this Chapter a member’s remediable service in an employment or office is “mixed service” if, disregarding section 2(1)— (a) some of the service is pensionable service under a Chapter 1 legacy scheme, and (b) some of the service is pensionable service under a Chapter 1 new scheme. (7) In this section— “pension debit” means a debit under section 29(1)(a) of WPRA 1999 or Article 26(1)(a) of WRP(NI)O 1999; “pension credit” means a credit under section 29(1)(b) of WPRA 1999 or Article 26(1)(b) of WRP(NI)O 1999.
19 Pension credit members
(1) Scheme regulations for a Chapter 1 scheme may make provision about the benefits payable to or in respect of a relevant pension credit member and the corresponding pension debit member. (2) In this section “relevant pension credit member”, in relation to a Chapter 1 scheme, means a member of the scheme who has rights under the scheme— (a) which are attributable (directly or indirectly) to a pension credit, and (b) the value of which was determined (to any extent) by reference to the value of benefits payable in respect of the remediable service in an employment or office of another member. (3) In this section “the corresponding pension debit member”, in relation to a relevant pension credit member, means the member mentioned in subsection (2)(b). (4) The provision that may be made under subsection (1) includes provision under which— (a) the pension debit of the corresponding pension debit member is adjusted where an election under section 6 (immediate choice) or section 10 (deferred choice) is made in relation to the member’s remediable service; (b) the pension credit of a relevant pension credit member is adjusted on the assumption that an election under section 6 or 10 is made in relation to the remediable service of the corresponding pension debit member (regardless of whether it in fact is). (5) Provision made under subsection (1) must include provision under which, in a case in which the corresponding pension debit member in relation to a relevant pension credit member has mixed service, any pension credit retained by the relevant pension credit member under the scheme is of a value determined by reference to the value of benefits payable under only one Chapter 1 scheme. (6) For the purposes of this Chapter a member’s remediable service in an employment or office is “mixed service” if, disregarding section 2(1)— (a) some of the service is pensionable service under a Chapter 1 legacy scheme, and (b) some of the service is pensionable service under a Chapter 1 new scheme. (7) In this section— “pension debit” means a debit under section 29(1)(a) of WPRA 1999 or Article 26(1)(a) of WRP(NI)O 1999; “pension credit” means a credit under section 29(1)(b) of WPRA 1999 or Article 26(1)(b) of WRP(NI)O 1999.
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