Legislation – The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations 2023
Changes to legislation:
There are currently no known outstanding effects for The Public Service (Civil Servants and Others) Pensions (Remediable Service) Regulations 2023, Section 41.
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PART 6Transfers
CHAPTER 2Transfers on a cash equivalent basis
SECTION 2Transfers on or after 1st October 2023
Transfers out on or after 1st October 2023
41.
(1)
This regulation applies to a remediable transfer value to be paid in relation to M by the scheme manager on or after 1st 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 secured in—
(a)
the PCSPS, and separately
(b)
alpha.
(3)
The amount of the remediable transfer value is the greater of the amounts calculated under paragraph (2).