Effect of acceptance of transfer value paymentN.I.
This section has no associated Explanatory Memorandum
113.—(1) Where a transfer value payment has been accepted under regulation 112 (inward transfers of pension rights), the Committee shall credit the active member's pension account with the appropriate amount of earned pension.
[F1(2) The calculation of the appropriate amount of earned pension for the purposes of the paragraph (1) is—
(a)in the case of a transfer of employment between members of the Public Sector Transfer Club, in accordance with the Club Memorandum; and
(b)in any other case, in accordance with actuarial guidance issued by the Department.]
Textual Amendments
F1Reg. 113(2) substituted (18.11.2019) by The Local Government Pension Scheme (Amendment) Regulations (Northern Ireland) 2019 (S.R. 2019/206), regs. 1(1), 80