Legislation – The National Health Service Pension Schemes (Remediable Service) (Scotland) Regulations 2023
Changes to legislation:
There are currently no known outstanding effects for The National Health Service Pension Schemes (Remediable Service) (Scotland) Regulations 2023, Section 34.
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 5Divorce or the dissolution of a civil partnership
Pension credits: valuation of pension benefits before 1 October 2023: pension credit adjustment: remediable service shareable rights in the legacy scheme and the 2015 scheme
34.
(1)
(a)
before these Regulations came into force, the scheme manager provided a valuation of benefits, in respect of remediable service shareable rights, under regulation 3 of the 2000 Regulations (information about pensions and divorce and dissolution of a civil partnership: valuation of pension benefits), and
(b)
CM has a pension credit, in respect of the corresponding pension debit member’s (“DM”) remediable service shareable rights, in the legacy scheme and the 2015 scheme.
(2)
Where this regulation applies, CM’s pension credit in respect of DM’s remediable service shareable rights must, by virtue of section 19(5) of PSPJOA 2022, be retained solely in the legacy scheme or solely in the 2015 scheme.
(3)
The scheme manager must, after having regard to the advice of the scheme actuary, determine—
(a)
a valuation of pension benefits, in respect of DM’s remediable service shareable rights and the legacy scheme corresponding pension credit, under section 29(1) of the 1999 Act (creation of pension debits and credits), as though all DM’s remediable service on or before the day before the transfer day were pensionable service in the legacy scheme, and
(b)
a valuation of pension benefits, in respect of DM’s remediable service shareable rights, and the 2015 scheme corresponding pension credit, under section 29(1) of the 1999 Act, as though all DM’s remediable service on or before the day before the transfer day were pensionable service in the 2015 scheme.
(4)
CM must make an election to choose one of the pension credits, in respect of DM’s remediable service shareable rights, determined under paragraph (3).
(5)
The election referred to in paragraph (4) must—
(a)
be made by CM in writing;
(b)
be received by the scheme manager within a period—
(i)
of three months, beginning with the day after the scheme manager provides the notice referred to in paragraph (6), or
(ii)
that the scheme manager considers reasonable in all the circumstances of the case; and
(c)
contain such information as the scheme manager requires.
(6)
The scheme manager must inform CM of the right to make an election under paragraph (5) in a notice in writing to CM—
(a)
where the scheme manager discharged their liability under section 33(1) of the 1999 Act (time for discharge of liability in respect of a pension credit) before 1 October 2023—
(i)
before 1 October 2024, or
(ii)
on such later date as the scheme manager considers reasonable in all the circumstances of the case, or
(b)
as soon as reasonably practicable after the day on which the scheme manager discharges their liability under that section where the scheme manager does so after 30 September 2023.
(7)
The notice referred to in paragraph (6) must specify—
(a)
the valuation of pension benefits and corresponding pension credits calculated by the scheme manager, determined under paragraph (3);
(b)
the date by which an election under this regulation must be received by the scheme manager;
(c)
that the election is irrevocable.
(8)
Where the scheme manager accepts such an election—
(a)
the pension credit, in respect of DM’s remediable service shareable rights, in whichever of the legacy scheme and the 2015 scheme CM identified in the election is retained, and
(b)
any pension credit, in respect of DM’s remediable service shareable rights, in whichever of the legacy scheme and the 2015 scheme CM did not identify in the election is extinguished.
(9)
The pension credit—
(a)
retained under paragraph (8)(a) has effect as though it had been retained in that scheme on the transfer day,
(b)
extinguished under paragraph (8)(b) has effect as though it had been extinguished in that scheme on the transfer day.
(10)
The personal representatives of CM may make an election under paragraph (4) where CM dies before making such an election.
(11)
Where the scheme manager does not receive an election within the period specified in paragraph (5)(b), the pension credit, in respect of DM’s remediable service shareable rights, is to be retained in whichever of the legacy scheme or the 2015 scheme the scheme manager, after having regard to the advice of the scheme actuary, deems would be most beneficial to CM.
(12)
Where paragraph (8) applies, the scheme manager must send a notice in writing to CM specifying—
(a)
the adjusted pension credit, in respect of DM’s remediable service shareable rights;
(b)
in which scheme that adjusted pension credit is retained;
(c)
details of the pension credit that is extinguished under paragraph (9)(b).
(13)
The scheme manager must send the notice mentioned in paragraph (12) to CM within one month beginning with the day after the day on which the scheme manager accepts an election under paragraph (8).