Legislation – The Teachers’ Pensions (Remediable Service) (Scotland) Regulations 2023
Changes to legislation:
There are currently no known outstanding effects for The Teachers’ Pensions (Remediable Service) (Scotland) Regulations 2023, Section 15.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
PART 3Decisions about the treatment of remediable service
CHAPTER 3Deferred choice decision for reformed scheme or legacy scheme benefits
Deferred choice election: deemed section 10 election
15.
(1)
This regulation applies where—
(a)
either—
(i)
the deferred choice decision-maker is a person other than M or the scheme manager, or
(ii)
the scheme manager has paid any benefits by virtue of regulation 12(9),
(b)
the end of the section 10 election period in relation to M has passed,
(c)
no deferred choice decision has been made, and
(d)
it appears to the scheme manager that the monetary value of the remediable benefits would be higher if they were treated as benefits in the reformed scheme compared with if they were treated as benefits in the legacy scheme.
(2)
The scheme manager may treat a section 10 election as having been made in relation to M’s remediable teacher service immediately before the end of the section 10 election period.
(3)
In this regulation—
“monetary value of the remediable benefits” means the amount that would be crystallised in relation to the remediable benefits immediately before they became payable in accordance with section 216 of the Finance Act 2004 as it had effect immediately before 1 October 2023,
“remediable benefits” means rights to benefits secured by virtue of M’s remediable teacher service.