Legislation – The Teachers’ Pension Scheme (Remediable Service) Regulations (Northern Ireland) 2023
Changes to legislation:
There are currently no known outstanding effects for The Teachers’ Pension Scheme (Remediable Service) Regulations (Northern Ireland) 2023, Section 38.
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 5Voluntary contributions
CHAPTER 3Deferred choice members
SECTION 2Provision about remediable voluntary contributions on the entry into force of section 2(1) of PSPJOA 2022
Treatment of rights to reformed scheme flexibilities on the entry into force of section 2(1) of PSPJOA 2022
38.
(1)
Paragraph (2) applies in relation to rights to reformed scheme flexibilities in respect of which—
(a)
an RVC election is made under regulation 29(5)(a), or
(b)
the period mentioned in regulation 29(6) has expired and no RVC election has been made.
(2)
Where this paragraph applies—
(a)
the scheme manager must confer rights to alternative legacy scheme additional pension,
(b)
the rights to reformed scheme flexibilities mentioned in paragraph (1) are extinguished, and
(c)
if the arrangement under which remediable voluntary contributions are paid to secure the reformed scheme flexibilities is continuing, any remediable voluntary contributions paid under that arrangement are to be treated as being paid to secure rights to legacy scheme additional pension.
(3)
Paragraph (4) applies in relation to rights to reformed scheme flexibilities in respect of which an RVC election is made under regulation 29(5)(b) or (c).
(4)
Where this paragraph applies—
(a)
the scheme manager owes to M or, where M is deceased, to M’s personal representatives an amount equal to the compensatable amount except in accordance with the terms of an agreement under regulation 39(2),
(b)
the rights to reformed scheme flexibilities mentioned in paragraph (3) are extinguished, and
(c)
if the arrangement under which remediable voluntary contributions are paid to secure the reformed scheme flexibilities is continuing, that arrangement is terminated.