Legislation – The Firefighters’ Pensions (Remediable Service) (Wales) Regulations 2023
Changes to legislation:
There are currently no known outstanding effects for The Firefighters’ Pensions (Remediable Service) (Wales) Regulations 2023, Section 39.
Changes to Legislation
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PART 6Transfers
CHAPTER 2Transfers on a cash equivalent basis
SECTION 2Transfers on or after 1 October 2023
Transfers out on or after 1 October 2023
39.
(1)
This regulation applies to a remediable transfer value payment to be paid in relation to M by the scheme manager on or after 1 October 2023.
(2)
The scheme manager, having consulted the scheme actuary, must calculate the transfer value of M’s remediable rights as if those rights had been in—
(a)
M’s legacy scheme;
(b)
the 2015 scheme.
(3)
The amount of the remediable transfer value is the greater of the amounts calculated under paragraph (2).