Legislation – The Teachers’ Pensions (Remediable Service) (Scotland) Regulations 2023
PART 6Transfers
CHAPTER 3Transfers on a club basis
SECTION 2Club transfers on or after 1 October 2023
Club transfers out on or after 1 October 2023
53.
(1)
This regulation applies in relation to a remediable club transfer value payment to be made by the scheme manager on or after 1 October 2023.
(2)
The scheme manager must calculate the following amounts—
(a)
the club transfer value of M’s rights under a teacher pension scheme as if M’s remediable rights had been secured in M’s legacy scheme,
(b)
the club transfer value of M’s rights under a teacher pension scheme as if M’s remediable rights had been secured in the reformed 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 the result of the calculations mentioned in paragraph (2).