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 20.
Changes to Legislation
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PART 4Provision about divorce and dissolution arrangements
CHAPTER 1Pension credit and pension debit members
SECTION 2Pension sharing arrangements: information provided before 1 October 2023
Information provided before 1 October 2023: calculating a remediable credit adjustment
20.
(1)
The scheme manager must determine the alternative amount in relation to C’s pension credit—
(a)
as soon as reasonably practicable after 30 September 2023, and
(b)
having consulted the scheme actuary.
(2)
Where—
(a)
the alternative amount is greater than the initial amount, or
(b)
the relevant pension sharing arrangement relates to mixed service and the alternative amount is lower than the initial amount,
C’s pension account is subject to an adjustment (a “remediable credit adjustment”) equal to the difference.
(3)
The scheme manager must, by the end of 30 September 2024, provide C with a statement setting out—
(a)
the alternative amount,
(b)
any remediable credit adjustment, and
(c)
where regulation 21(4)(b) applies in relation to C, an explanation of the request that may be in accordance with regulation 21(5) and the consequences of making, or not making, such a request.