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.
139 provisions
77 Earnings adjustments in determining final pensionable earnings
(1) For the purpose of determining which is the greatest amount mentioned in regulation 76 (meaning of ‘final pensionable earnings’), the amount of pensionable earnings, as determined in accordance with regulation 76 for that part of the period of 365 days that falls 365 days or more before the last day of service is to be adjusted for inflation.
(2) Any adjustment made for the purpose of determining final pensionable earnings is to be disregarded for all other purposes of this scheme.
(3) The reference in paragraph (1) to adjusting for inflation the amount of pensionable earnings for part of the period is a reference to increasing it by the same amount as that by which an annual pension of an amount equal to those earnings would have been increased under the PIA 1971 on the day following the last day of service if the pension—
(a) were eligible to be so increased; and
(b) had come into payment on the day following the last day of that period.
(1) On the death of a member, the scheme manager may pay a lump sum to—
(a) the person or persons nominated by the member in accordance with regulation 84 (nominations for lump sum death benefits);
(b) if there is no person within sub-paragraph (a), to any person who is entitled to a pension under regulation 65 or 67 (surviving spouses’ and civil partners’ pensions and other adult dependants’ pensions) in respect of the member;
(c) if there is no person within sub-paragraphs (a) or (b), to any person who, but for the application of regulation 65 or 67 would be so entitled or to whom a pension may be awarded; or
(d) if there is no person within sub-paragraph (a), (b) or (c), to the member’s personal representatives.
(2) If the scheme manager decides to pay all or part of the lump sum in accordance with a nomination then—
(a) the payment is to be made to them in such proportions as the member has specified in the nomination; or
(b) if no proportions are so specified, in such proportions as the scheme manager considers appropriate.
(3) This regulation does not apply if—
(a) the member is—
(i) a pensioner member, who is not also a deferred member or an active member; or
(ii) a pension credit member who dies after any benefits attributable to a pension credit have become payable and who is not also an active member, a deferred member or a pensioner member; and
(b) the death takes place—
(i) more than 5 years after the member’ pension becomes payable; or
(ii) after the member’s pension has been commuted under regulation 116 (commutation of small pensions) or 60 (option for members in serious ill-health to exchange whole pension for lump sum).
79 Lump sum amount payable on death of active member
(1) In the case of a deceased active member, the amount of the lump sum payable under regulation 78 (death of a member: lump sum benefit) is equal to the member’s final pensionable earnings, multiplied by 4. This is subject to paragraphs (2), (2A) and (2B).
(2) If the member was both an active member and a deferred member, and the aggregate of the amount payable under regulation 80 (lump sum amount payable on death of deferred member) and any amount payable by way of a lump sum on the death of the member as a deferred member of a connected scheme is greater than the amount payable under paragraph (1), the amount payable under regulation 80 is payable instead of the amount specified in paragraph (1).
(2A) If the member was both an active member and a pensioner member and the amount payable under regulation 81 (lump sum amount payable on death of pensioner member) is greater than the amount payable under paragraph (1), the amount payable under regulation 81 is payable instead of the amount specified in paragraph (1).
(2B) If the member was both an active member and a deferred member or a pensioner member of a connected scheme, the amount specified in paragraph (1) is only payable if and to the extent that it exceeds the aggregate of any payments made to or in respect of the member by way of lump sum on the death of the member under any connected scheme.
(3) For the purpose of this regulation, any amounts paid or payable to or in respect of the member in the capacity of a pension credit member are to be disregarded.
80 Lump sum amount payable on death of deferred member
(1) In the case of a deceased deferred member, the amount of the lump sum payable under regulation 78 (death of a member: lump sum benefit) is equal to the annual rate of the member’s provisional annual pension, multiplied by 3.
(2) The annual pension is the annual rate specified in the deferred member’s account at the point of the deferred member’s death but subtracting the pension sharing order amount (if any) and added pension (member) (if any).
(3) If the member was both a deferred member and an active member, and the amount payable under regulation 79 (lump sum amount payable on death of active member) is greater than the aggregate of the amount payable under paragraph (1) and any amount payable by way of lump sum on the death of the member as a deferred member of any connected scheme, the amount payable under regulation 79 is payable instead of the amount specified in paragraph (1).
(4) If the member was both a deferred member and a pensioner member, and the amount payable under regulation 81 (lump sum amount payable on death of pensioner member) is greater than the amount payable under paragraph (1), the amount payable under regulation 81 is payable instead of the amount specified in paragraph (1).
(5) For the purpose of this regulation any amounts paid or payable to or in respect of the member in the capacity of a pension credit member are to be disregarded.
81 Lump sum amount payable on death of pensioner member
(1) In the case of a pensioner member, who dies within 5 years of receipt of their pension, the amount of the lump sum payable under regulation 78 (death of a member: lump sum benefit) is equal to—
(a) the member’s annual pension, multiplied by 5, less
(b) the total amount of any pension payments made to the member as such under this scheme.
(2) The reference in paragraph (1)(a) to the member’s annual pension is to the sum of the following amounts—
(a) the amount of the annual rate of each pension as at the beginning date for that pension, ...; and
(b) the amount of increase (if any) in the annual rate of each such pension under the PIA 1971 payable as at the date of the member’s death.
(3) If the member was both a pensioner member and an active member, and the amount payable under regulation 79 (lump sum amount payable on death of active member) is greater than the amount payable under paragraph (1), the amount payable under regulation 79 is payable instead of the amount specified in paragraph (1).
(4) If the member was both a pensioner member and a deferred member, and the amount payable under regulation 80 is greater than the amount payable under paragraph (1), the amount payable under regulation 80 is payable instead of the amount specified in paragraph (1).
(4A) If the member was both a pensioner member and a pensioner member of a connected scheme, the amount specified in paragraph (1), or as the case may be, paragraph (3) or (4), is only payable if and to the extent that it exceeds the aggregate of any payments made to or in respect of the member by way of lump sum on the death of the member under any connected scheme.
(5) For the purpose of this regulation any amounts paid or payable to or in respect of the member in the capacity of a pension credit member are to be disregarded.
82 Lump sum amount payable on death of pension credit member
(1) In the case of a pension credit member who dies before any benefits derived from their pension credit have become payable, the amount of the lump sum payable under regulation 78 (death of a member: lump sum benefit) is calculated by multiplying by 3 the amount of the annual pension that would have been payable to the member under regulation 48 (annual rate of pension credit member’s pension) if that pension had become payable to the member on the date of the member’s death.
(2) The reference in paragraph (1) to the member’s annual pension is to the sum of the following amounts—
(a) the amount of the annual rate of pension as at the beginning date for that pension, without subtracting the early payment reduction amount (if any); and
(b) the amount of increase (if any) in the annual rate of each such pension under the PIA 1971 payable as at the date of the member’s death.
(3) In the case of a pension credit member who dies after the pension credit member’s pension under regulation 48 (annual rate of pension credit member’s pension) becomes payable, the amount of the lump sum payable under regulation 78 (death of a member: lump sum benefit) is equal to—
(a) the amount of the pension that would have been payable to the pension credit member during so much of the period of 5 years beginning with the date on which the pension became payable as falls after the date of death, ..., less
(b) the total amount of any pension payments made to the member as such under this scheme.
(4) In this regulation “amount of pension” means the sum of—
(a) the amount of the annual rate of the pension as at the beginning date for that pension; and
(b) the amount of increase (if any) in that annual rate of pension under the PIA 1971, payable as at the date of the member’ death.
83 Members affected by court orders to former spouses and civil partners on death
(1) This regulation applies if, on a member’s death, the scheme manager is required under a court order to pay any part of any amount payable under regulation 78 (death of a member: lump sum benefit) to the member’s former spouse or civil partner.
(2) The amount payable under that regulation is first determined as if no such order had been made, and then this Part applies as if the amount payable under that regulation were reduced by the amount payable under the court order.
(1) For the purposes of regulation 78 (death of a member: lump sum benefit), a member may nominate—
(a) one or more individuals;
(b) one incorporated or unincorporated body; or
(c) one or more individuals and one incorporated or unincorporated body.
(2) A nomination may specify how payments are to be apportioned between—
(a) two or more individuals; or
(b) one or more individuals and one incorporated or unincorporated body.
(3) A nomination must be made by signed notice in writing to the scheme administrator in such form as the scheme manager may require or is willing to accept.
(4) A member may revoke or alter a nomination by a further signed notice in writing to the scheme administrator in such form as the scheme manager may require or is willing to accept.
(4A) Where the member marries or enters into a civil partnership on or after 1st December 2018, any existing nomination ceases to have effect from the date of the marriage or civil partnership.
(5) The nomination of a person is invalid—
(a) if—
(i) the person nominated is an individual who was the spouse, civil partner or other adult dependant of the member at the date the nomination was made and is not the spouse, civil partner or other adult dependant of the member immediately before the member’s death; and
(ii) the member did not confirm the nomination by notice in writing to the scheme administrator after the marriage, civil partnership or adult dependency ended; or
(b) if the person nominated is an individual who predeceases the member.
(6) If a person nominated is convicted of the offence of murder of the member, the person’s nomination is to be treated as invalid from the member’s death.
(7) If a person nominated is convicted of manslaughter or any other offence (apart from murder) of which the unlawful killing or wounding of the member is an element, the scheme manager may determine that the nomination is to be treated as invalid from the member’s death.
(1) This regulation applies where the deceased member was a pension debit member.
(2) If the member was an active member—
(a) the pensions payable under regulation 65 (surviving spouses’ and civil partners’ pensions) or regulation 67 (other adult dependants’ pensions) are to be calculated by reference to the amount of the pension to which the member would have been entitled after any reduction under section 31 of the WRPA 1999 (“section 31”);
(b) the amount payable under regulation 72 (surviving children’s pensions) by virtue of regulation 74 (annual rate of children’ pensions)—
(i) is first calculated as if the member were not a pension debit member; and
(ii) is then subject to any reduction required under section 31, and
(c) the amount of lump sum payable under regulation 78 (death of a member: lump sum benefit) is to be calculated under regulation 79 (lump sum amount payable on death of active member).
(3) If the member was a deferred member—
(a) the amount of the pension payable under regulation 65 or regulation 67 is to be calculated by reference to the amount of the pension to which the member would have been entitled after any reduction under section 31; and
(b) the amount payable under regulation 72 by virtue of regulation 74—
(i) is first calculated as if the member were not a pension debit member; and
(ii) is then subject to any reduction required under section 31.
(c) the lump sum payable under regulation 78 is to be calculated under regulation 80 (lump sum amount payable on death of deferred member).
(4) If the member was a pensioner member—
(a) the amount of the pension payable under regulation 65 or regulation 67 is to be calculated by reference to the amount of the pension to which the member was entitled (after the reduction under section 31);
(b) the amount payable under regulation 72 by virtue of regulation 74—
(i) is first calculated as if the member were not a pension debit member; and
(ii) is then subject to any reduction required under section 31; and
(c) the lump sum payable under regulation 78 is to be calculated under regulation 81 (lump sum amount payable on death of pensioner member).
86 Dependants’ pensions and children’s pensions: suspension and recovery
(1) This regulation applies if—
(a) on a member’s death a pension has been awarded and paid under this Part; and
(b) it later appears to the scheme manager that the member or the person to whom the pension has been paid made a false declaration to deliberately suppress a material fact in connection with the award.
(2) The scheme manager may—
(a) cease paying the pension; and
(b) recover any payment made under the award.
(3) Paragraph (2) does not affect the scheme manger’s right to recover a payment or overpayment in any case where the scheme manager considers it appropriate to do so.
(1) The scheme manager may recover a lump sum death benefit paid under regulation 78 (death of a member: lump sum benefit) if—
(a) the payment is made to a person because of the person’s nomination under regulation 84 (nomination for lump sum benefits); and
(b) the person’s nomination is subsequently found to be invalid under that regulation.
(2) Paragraph (1) does not affect the scheme manager’s right to recover a payment or overpayment in any case where the scheme manager considers it appropriate to do so.
88 Provisional awards of children’s pensions: later adjustments
(1) This regulation applies where after the death of an active member, deferred member or pensioner member—
(a) a pension is paid in respect of one or more persons under this Part on the basis that they were eligible children as at the date of the member’s death and that there were then no other eligible children; and
(b) subsequently it appears—
(i) that a person in respect of whom such a pension has been paid was not then an eligible child;
(ii) that a further person was then an eligible child; or
(iii) that a child who was born after the member’s death is an eligible child.
(2) The scheme manager may make such adjustments in the amount of the pensions payable in respect of the children in question as are required in view of the facts as they subsequently appear.
(3) Paragraph (2) does not affect the scheme manager’s right to recover a payment or overpayment in any case where the scheme manager considers it appropriate to do so.
(1) Except where specified otherwise in this Part, a pension under this Part is payable from the day after the date of the member’s death.
(2) Payments of a lump sum payable under this Part must be made before the expiry of the period of 2 years beginning with the earlier of—
(a) the day on which the scheme manager first knew of the member’s death; and
(b) the day on which the scheme manager could reasonably be expected to have known of the member’s death.
(3) The annual amount of pension paid to a person under this Part is to be increased by such amount as the scheme manager, after consulting with the scheme actuary, may determine, if—
(a) the scheme manager has determined that a lump sum should be paid to the person under this Part, but the lump sum is not paid within 2 years of the date of the death; or
(b) the scheme manager has determined that, but for paragraph (1), a lump sum would have been paid to the person.
(4) Unless the scheme manager directs otherwise, a pension payable under this Part in respect of an eligible child aged under 18 is to be paid—
(a) if the child is in the care of the member’s surviving spouse or civil partner or a person who is the member’s surviving adult dependant for the purposes of regulation 64 (other adult dependants’ pensions), to the surviving spouse or civil partner or the adult dependant; and
(b) in any other case, to the child’s guardian.
90 Payment of death benefits to dual capacity member
(1) This paragraph applies if the deceased member was a dual capacity member of this scheme.
(2) The general rule is that—
(a) benefits are payable in respect of the member under this Part as if 2 or more members of the kinds in question had died (so that 2 or more pensions or lump sums are payable in respect of the one deceased member); and
(b) the amounts payable are determined accordingly.
(3) But that general rule is subject to—
(a) regulation 79 and regulation 80 (lump sum amount payable on death of active member and lump sum amount payable on death of deferred member); and
(b) regulation 81 and regulation 82 (lump sum amount payable on death of pension member and lump sum amount payable on death of pensioner credit member).
(4) If a person who is a pension credit member is entitled to 2 or more pension credits—
(a) benefits are payable in respect of the person under this scheme as if the person were 2 or more persons, each being entitled to one of the pension credits (so that 2 or more pensions or lump sums are payable in respect of the one pension credit member); and
(b) the amounts of those benefits are determined accordingly.
91 Member’s option to make periodical contributions to purchase added pension
(1) An active member may opt to make periodical contributions during the contribution option period to increase—
(a) the benefits payable to the member under Part 5 (retirement benefits); or
(b) the benefits payable under Part 5 and Part 6 (death benefits).
(2) The option must be exercised by notice in writing to the scheme administrator in such form and subject to such conditions as the scheme manager requires.
(3) A member may exercise the option more than once but the option may only be exercised once in any scheme year. This is subject to paragraph (9) and regulation 94 (periodical contributions: special cases).
(4) If a member exercises an option under paragraph (1), the contributions are payable by deduction from the member’s earnings for the first pay period of the scheme year beginning when the scheme administrator considers appropriate on or after the date on which the scheme administrator receives the member’s application to exercise the option and for all subsequent pay periods beginning during the contribution option period. This is subject to regulation 93 (cancellation of options to make periodical payments) and regulation 94 (periodical contributions: special cases).
(5) If a member exercises an option under paragraph (1)—
(a) the contributions payable are to be fixed sums;
(b) in the case of an option under paragraph (1)(a), the amount that the member is entitled to count as added pension (member) for a scheme year in which those contributions are paid is such amount as is indicated as appropriate for the amount of those contributions in tables issued by the scheme manager after consultation with the scheme actuary; and
(c) in the case of an option under paragraph (1)(b), the amount that the member is entitled to count as added pension (member and dependants) for the scheme year in which those contributions are paid is such amount as is indicated as appropriate for the amount of those contributions in tables issued by the scheme manager, after consultation with the scheme actuary.
This is subject to paragraph (6).
(6) The total pension amounts included in the member’s pension account regulation 29 (establishment of active member’s account) as a result of contributions made under this regulation, taken together with—
(a) any pension amounts so included as a result of contributions made under regulation 92 (member’s option to pay lump sum contributions to purchase pension); and
(b) any pension amounts included in any other pension account established at any time under regulation 29 (establishment of active member’s account) in respect of the member as a result of—
(i) contributions made under this regulation; or
(ii) contributions made under regulation 92 (member’s option to pay lump sum contributions to purchase pension),
may not exceed such amount as the scheme manager, after the consent of the Treasury has been obtained, may for the time being determine.
(7) A member may not make contributions under this regulation of less than such amount as the scheme manager may for the time being determine.
(8) In these Regulations “the contribution option period”, in relation to an option under this regulation, means—
(a) a scheme year; or
(b) such shorter period as may be specified in the notice relating to the option.
(9) A member may not exercise the option under paragraph (1) and the option under regulation 92(1) (member’s option to pay lump sum contributions to purchase pension) in the same scheme year.
92 Member’s option to pay lump sum contributions to purchase pension
(1) An active member may opt to make a single lump sum contribution to increase—
(a) the benefits payable to the member under Part 5 (retirement benefits); or
(b) the benefits payable under Part 5 and Part 6 (death benefits).
(2) A member may not make a contribution under this regulation of less than such amount as the scheme manager may for the time being determine.
(3) The option must be exercised by notice in writing to the scheme administrator in such form and subject to such conditions as the scheme manager requires.
(4) A member may exercise the option under paragraph (1) more than once, but it may only be exercised once in any scheme year. This is subject to regulation 91(9).
(5) If a member exercises an option under paragraph (1), the contribution is payable immediately by the member to the scheme administrator by deduction from the member’s earnings or otherwise.
(6) If a member exercises an option under paragraph (1)(a), the amount that the member is entitled to count as member’s added pension for the relevant scheme year is such amount as is indicated as appropriate for the amount of the contribution in tables issued by the scheme manager, after consultation with the scheme actuary.
(7) If a member exercises an option under paragraph (1)(b) or to pay a lump sum under regulation 94(c) (periodical contributions: special cases), the amount that the member is entitled to count as added pension (member and dependants) for the relevant scheme year is such amount as is indicated as appropriate for the amount of the contribution in tables issued by the scheme manager, after consultation with the scheme actuary. This is subject to paragraph (8).
(8) The total pension amounts included in the member’s pension account under regulation 29 (establishment of an active member’s account) as a result of contributions made under this regulation taken together with—
(a) any pension amounts so included as a result of contributions made under regulation 91 (member’s option to pay periodical contributions to purchase pension); and
(b) any pension amounts included in any other pension account established at any time under regulation 29 in respect of the member as a result of—
(i) contributions made under this regulation; and
(ii) contributions made under regulation 91,
may not exceed such amount as the scheme manager, having obtained the consent of the Treasury, may for the time being determine.
(9) In this regulation—
“the relevant day” means the day on which the payment is received by the scheme administrator; and
“the relevant scheme year” means the scheme year in which the relevant day falls.
93 Cancellation of options to made periodical contributions
(1) A member may cancel an option under regulation 91 (member’s option to make periodical contributions to purchase added pension) by giving the scheme administrator notice in writing in such form as the scheme manager requires.
(2) If a member cancels such an option, the periodical contributions cease to be payable in respect of the member’s pensionable earnings for all pay periods falling in the current scheme year after the pay period in which the scheme administrator receives the notice.
(3) If it appears to the scheme administrator that the requirement in regulation 91(6) will not be met if the member continues to make periodical contributions under regulation 91, the scheme administrator may cancel the option under regulation 91(1) by giving the member notice in writing.
(4) If the scheme administrator cancels such an option, the periodical contributions cease to be payable in respect of the member’s pensionable earnings for all pay periods falling after the date specified in the notice.
If a member who has exercised an option under regulation 91(1) (member’s option to make periodical contributions to purchase added pension) has a period of absence from work , serves on flexible terms or the member’s pay for any pay period is insufficient to meet the periodical contributions for a contribution option period, the member may—
(a) cease to pay the periodical contributions payable under the option; or
(b) pay the same amounts of contributions as would be payable if the member were receiving pensionable earnings at the full rate; or
(c) opt by giving the scheme administrator notice in writing in such form as the scheme manager may require, to pay the contributions for the contribution option period within the scheme year after the absence or service on flexible terms has ended or when the member’s pay has again become sufficient, by such instalments as the member may agree with the scheme manager or by lump sum.
95 Crediting of added pension: death in service or medical discharge
Where a member who is making periodical contributions in respect of added pension (member and dependants) dies in service or is discharged with an ill health award there may be credited to the relevant account of the member by the Secretary of State such amounts as would have been credited by the member for that scheme year but only for the death or discharge.
(1) The contributions made by a member under this Part are not repayable in any circumstances except if—
(a) paragraph (2) applies, or
(b) Chapter 5 of Part 4 of the PSA 1993 (early leavers: cash transfer sums and contribution refunds) applies, the member has elected under that part for a contribution refund and the payment is made in accordance with that Chapter.
(2) This paragraph applies if —
(a) a person who is not a pensioner member ceases to be in pensionable service; and
(b) the person is not entitled to a pension under regulation 43 or 44 because of the provisions of regulations 43(2) or 44(2).
(3) If paragraph (1)(b) applies, the person is entitled to be paid the amount to which the person is entitled under Chapter 5 of Part 4 of the PSA 1993, less an amount equal to the income tax payable under section 205 of the FA 2004 (short service refund lump sum charge) as a result of the repayment.
(4) If paragraph (2) applies, the person is entitled to be paid an amount equal to the sum of the contributions made by the person under this Part, less the sum of the amounts mentioned in paragraph (3).
(5) If a repayment is made under this regulation, the member’s rights under this Part are extinguished.
(1) This regulation applies if an active member is seconded during any period—
(a) to the United Nations or the North Atlantic Treaty Organisation; or
(b) under arrangements with any other organisation or person under which persons who are in service as a result of which they are eligible to belong to the scheme are seconded into other service.
(2) If at the end of that period the member resumes service in the armed forces in which he is an active member of the scheme, the member may opt to make a single lump sum contribution to the scheme so as to preserve the earned pension benefits to which the member would have been entitled but only for the secondment.
(3) The option is to be exercised by notice in writing to the scheme administrator in such form as the scheme manager requires.
(4) If a member exercises the option under paragraph (2) and pays to the scheme administrator a contribution equal to the aggregate amount of—
(a) any contributions returned to the member by the pension arrangement to which the member belonged in respect of his service during the secondment; and
(b) any lump sum paid to the member on leaving the organisation or to the person to whom he was seconded as a severance payment,
the member is entitled to count the amount as being equal to their earned pension benefits to which the member would have been entitled but only for the secondment.
(5) If the aggregate amount mentioned in paragraph (4) is less than the amount determined by the scheme manager after consultation with the scheme actuary to be the amount required to be paid in order to preserve the earned pension benefits under paragraph (2), the Secretary of State must make a contribution to the scheme equal to the difference.
(6) This regulation is subject to regulation 97A.
97A Members seconded to NATO or the UN etc: transition member secondees
(1) This regulation applies if—
(a) the member is a transition member with continuity of service;
(b) the member was on a secondment of a kind referred to in regulation 97(1); and
(c) the secondment began before the member’s transition date.
(2) Where this regulation applies, regulation 97 has effect subject to the following provisions.
(3) The requirement in regulation 97(2) for the member to make a single lump sum contribution to the scheme may be satisfied by the member making a single lump sum contribution to a connected scheme in relation to the secondment.
(4) For the purposes of regulation 97(4) and (5), the aggregate amount is determined as follows (rather than calculated in accordance with regulation 97(4))—
(a) where an amount is provided to the scheme administrator from the connected scheme in relation to the secondment, the aggregate amount is that amount;
(b) if no amount is provided, the aggregate amount is zero.
(1) In this Part—
“guarantee date” has the meaning given in section 93A(2) of the PSA 1993;
“statement of entitlement” has the meaning given in section 93A(1) of the PSA 1993;
“transfer value” means an amount equal to—
the guaranteed cash equivalent as defined in section 94(1A) of the PSA 1993 calculated in accordance with regulations made under section 97 of that Act; or
a sum representing the aggregate of the amount in paragraph (a) and such other amount as may be payable by virtue of regulation 99 (right to require payment of a transfer value); and
“transfer value payment” means—
in Chapter 2, payment of a transfer value in respect of a member’s right to accrued benefits under this scheme; and
in Chapter 3, payment of a transfer value in respect of a member’s accrued rights under a pension scheme mentioned in regulation 106 (rights to request acceptance of transfer value payment).
(2) This Part applies in the case of a transfer to which the club transfer arrangements apply as it applies in other cases, except to the extent that—
(a) any provision in this Part provides otherwise; or
(b) the arrangements themselves made different provision.
(1) This Chapter applies to a member to whom Chapter 4 of Part 4 of the PSA 1993 (transfer values) applies.
(2) This Chapter—
(a) supplements the rights conferred by or under that Chapter; and
(b) is without prejudice to that Chapter.
(3) Accordingly, the deferred member is entitled to require payment of a transfer value in respect of the member’s right to accrued benefits under this scheme.
(4) Paragraph (3) does not apply to benefits that are attributable (directly or indirectly) to a pension credit.
(5) Paragraph (3) does not apply if the member is entitled under regulation 96 (repayment of contributions) to repayment of the contributions the member has paid during the period of service ending with the member’s ceasing to be an active member or acquires a right to a contribution refund under Chapter 5 of Part 4 of the PSA 1993.
(1) A member who requires a transfer value payment must apply to the scheme administrator under section 93A(1) of the PSA 1993 for a statement of entitlement.
(2) The application must be in writing.
(3) The member may withdraw the application by notice in writing at any time before the statement is provided.
(4) The member may not make more than 2 applications in any period of 12 months.
(1) A member who has been provided with a statement of entitlement may apply to the scheme administrator under section 95 of the PSA 1993 for a transfer value payment.
(2) The application must—
(a) specify the pension scheme or other pension arrangement to which the transfer value should be paid; and
(b) meet such other conditions as the scheme manager may require.
(3) The member may withdraw the application by notice in writing to the scheme administrator in accordance with section 100(1) of the PSA 1993.
(4) Under section 100(2) of that Act, a withdrawal is of no effect if an agreement for the use of the whole or part of the cash equivalent has already been entered into with a third party.
(1) If a transfer value payment is made later than 6 months after the guarantee date, the amount of the transfer value must be increased in accordance with regulations made under section 97 of the PSA 1993.
(2) If a transfer value is less than the minimum transfer value, the amount of the transfer value must be increased so that it is equal to the amount of the minimum transfer value.
(3) For the purpose of paragraph (2), “the minimum transfer value” is the sum of the following amounts—
(a) the amount of the member’s contributions under Part 7 (contributions to purchase added pension); and
(b) the amount of any transfer value payments and cash transfer sums accepted in relation to the member under this Part.
103 Ways in which a transfer value payment may be used
(1) A member may only require the scheme manager to use a transfer value payment in a way specified in section 95(2) of the PSA 1993.
(2) The whole of the transfer value must be applied subject to paragraph (4).
(3) A transfer value payment may only be made to—
(a) a registered pension scheme; or
(b) a pension arrangement that is a qualifying recognised overseas pension scheme for the purposes of Part 4 of the FA 2004 (see section 169(2) of that Act).
(4) If section 96(2) of the PSA 1993 applies, there may be excluded from the transfer value payment the benefits attributable to—
(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 on or after 6 April 1997.
106 Rights to request acceptance of transfer value payment
(1) This Chapter applies to an active member who has accrued rights under—
(a) another occupational pension scheme that—
(i) is a registered pension scheme; and
(ii) is not a connected scheme; or
(b) a personal pension scheme.
(2) The member may request that the scheme manager accept payment of a transfer value in respect of some or all of those accrued rights.
(3) In this regulation, “accrued rights” does not include rights that are attributable (directly or indirectly) to a pension credit.
(1) A request under regulation 106(2) (“a request”)—
(a) must be in writing;
(b) must specify—
(i) the pension scheme or arrangement from which the transfer value payment is requested to be made; and
(ii) the anticipated amount of the payment; and
(c) must meet such other conditions as the scheme manager may require.
(2) A request must be made during the period of 12 months beginning with the day on which the member becomes an active member of this scheme.
(3) The scheme manager may direct that a transfer payment request is to be treated as having been made earlier than it was if the scheme manager considers it reasonable to do so in the circumstances.
(4) On receiving a transfer payment request, the scheme manager may accept the transfer payment if any conditions required by the scheme manager are met.
(5) The scheme manager may not accept a transfer value payment if—
(a) it would be applied in whole or in part in respect of—
(i) the member’s entitlement to a guaranteed minimum pension; or
(ii) the entitlement of the member’s spouse to a guaranteed minimum pension; and
(b) it is less than the amount required for that purpose, as calculated in accordance with guidance and tables determined by the scheme manager for the purposes of this paragraph, after consultation with the scheme actuary.
(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, a member must ask the scheme manager to provide a statement of the amount of transferred pension that the member will be entitled to count under regulation 109 (amount of transferred pension) if the transfer date falls within the period of 2 months beginning with the date of that statement.
(3) The amount specified in the transfer statement must be an amount calculated by the scheme manager in accordance with actuarial guidance and tables by reference to—
(a) factors relating to the member’s circumstances as at the end of that 2 month period; and
(b) any other factors as at the date of the statement that the scheme manager, having consulted the scheme actuary, considers should apply.
(1) This regulation applies in relation to—
(a) Any transfer payment received in relation to a member from another pension scheme that is not a club scheme; and
(b) Any transfer payment in respect of added pension received in relation to a member from another club scheme.
(2) For the scheme year in which the transfer date falls, the amount of transferred pension a member 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, an amount calculated by the scheme manager in accordance with actuarial guidance and tables by reference to any factors as at the transfer date that the scheme manager, after consultation with the scheme actuary, considers should apply.
(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, the member must ask the scheme manager to provide a statement of the amount of club transfer earned pension that the member will be entitled to count under regulation 111 (amount of club transfer earned pension) if the transfer date falls within the period of 2 months beginning with the date of that statement.
(3) The amount of club transfer earned pension specified in the statement must be calculated by the scheme manager in accordance with actuarial guidance and tables by reference to—
(a) factors relating to the member’s circumstances as at the end of that 2 month period; and
(b) any other factors as at the date of the statement that the scheme manager, after consultation with the scheme actuary, considers should apply.
(4) 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 the member is entitled to count in respect of a club transfer value payment 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 and tables by reference to any factors as at the transfer date that the scheme manager, in accordance with the guidance of the scheme actuary, considers should apply.
(1) This regulation applies in the case of a member whose transfer is subject to transfer arrangements concluded with—
(a) the Communities Pension Scheme of the Institutions of the European Communities; or
(b) any other scheme for the provision of retirement benefits established outside the United Kingdom.
(2) The scheme applies in relation to the member with such modifications as the scheme manager considers necessary to comply with—
(a) the terms of those arrangements;
(b) any applicable provision contained in or made under any enactment; and
(c) the requirements to be met by a registered pension scheme.
113 Appointment of scheme actuary and actuarial valuations
(1) The Secretary of State must appoint an actuary (the “scheme actuary”) to provide a consulting service on actuarial matters relevant to this scheme or a connected scheme.
(2) The scheme actuary is responsible for—
(a) carrying out valuations of the scheme and any connected scheme; and
(b) preparing a report on such a valuation.
(3) Before appointing an actuary as scheme actuary the Secretary of State must be satisfied that the actuary is appropriately qualified to carry out valuations of this scheme and any connected scheme in accordance with Treasury directions under section 11 of the Act (the “Treasury directions”).
(4) The scheme administrator is responsible for providing the scheme actuary with any data that the scheme actuary requires, in accordance with Treasury directions, 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.
(1) The employer cost cap for this scheme is 34.6 % of pensionable earnings of members of the scheme.
(2) Where the cost of this scheme goes beyond the margin either side of the employer cost cap for this scheme specified in regulations under section 12(5)(a) of the Act, the Secretary of State must consult such persons (or those appearing to the Secretary of State to represent such persons) as appear to the Secretary of State likely to be affected by any steps that will be taken, with a view to the Secretary of State determining the steps required to achieve the target cost for this scheme.
(3) Following such consultation, the Secretary of State must determine that an adjustment to this scheme must be made so that the target cost for it is achieved.
(4) In this regulation—
(a) “cost of this scheme” means the cost of this scheme calculated following a valuation in accordance with regulation 113 (appointment of scheme actuary and actuarial valuations); and
(b) “target cost for this scheme” means the target cost for this scheme specified in regulations under section 12(5)(b) of the Act.
Nothing in these Regulations requires any part of a pension attributable to a retirement index adjustment that is payable in respect of the last active scheme year to be paid before the end of that year.