Legislation – The National Health Service Pension Schemes (Remediable Service) Regulations 2023
Changes to legislation:
There are currently no known outstanding effects for The National Health Service Pension Schemes (Remediable Service) Regulations 2023, Section 50.
Changes to Legislation
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PART 6Transfers
Remediable club transfer value payments made on or after 1st October 2023
50.
(1)
This regulation applies in relation to a member (“M”) in respect of whom the scheme manager is to make a remediable club transfer value payment on or after 1st October 2023.
(2)
Where this regulation applies, the scheme manager must calculate the transfer value of M’s remediable rights as if they had been secured in—
(a)
the 1995 Section or the 2008 Section (whichever is relevant);
(b)
the 2015 scheme.
(3)
The amount of the remediable club transfer value is the greater of the amounts calculated under paragraph (2).
(4)
The scheme manager must provide to the receiving scheme—
(a)
the result of the calculations mentioned in paragraph (2), and
(b)
such further information as the receiving scheme may require in relation to M’s remediable rights.