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The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations 2023
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There are currently no known outstanding effects for the The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations 2023, Cross Heading: SECTION 1.
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SECTION 1U.K.Club transfers before 1st October 2023
Club transfers out before 1st October 2023 U.K.
42.—(1) This regulation applies in relation to each member (“M”) in respect of whom the scheme manager paid a remediable club transfer value before 1st October 2023.
(2) The scheme manager must calculate the transfer value of M’s rights under a civil service scheme as if all of M’s remediable rights had been secured in—
(a)the PCSPS, and separately
(b)alpha.
(3) The scheme manager must provide to the receiving scheme the result of the calculations mentioned in paragraph (2).
(4) Where the receiving scheme is a local government scheme (within the meaning of section 86(1) of PSPJOA 2022), and—
(a)the greater of the amounts calculated under paragraph (2) (“x”) is greater than
(b)the amount of the remediable transfer value (“y”),
the scheme manager must pay the receiving scheme an amount equal to x – y.
(5) A payment made under paragraph (4) is subject to the same conditions as the remediable club transfer value.
Commencement Information
I1Reg. 42 in force at 1.10.2023, see reg. 1(b)
Club transfers in before 1st October 2023 U.K.
43.—(1) This regulation applies in relation to each remediable club transfer value in respect of a member (“M”) which was accepted by the scheme manager before 1st October 2023.
(2) The scheme manager may accept an adjustment in the value of a remediable club transfer value—
(a)in respect of the remediable rights to which the remediable club transfer value payment relates, and
(b)which is made by the sending scheme pursuant to, or to provision made under, PSPJOA 2022.
(3) An adjustment accepted under paragraph (2) is to be used for the purpose of determining M’s benefits under a civil service scheme on the same terms as the remediable club transfer value.
(4) The scheme manager must determine M’s remediable benefits as if the remediable club transfer value, together with any adjustment accepted under paragraph (2), were applied in respect of rights secured in—
(a)the PCSPS, and separately
(b)alpha.
Commencement Information
I2Reg. 43 in force at 1.10.2023, see reg. 1(b)
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