Legislation – The National Health Service Pension Schemes (Remediable Service) Regulations 2023

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PART 6Transfers

Interpretation of Part 6
37.

(1)

In this Part—

“1995 regulation N1” means regulation N1 of the 1995 Regulations49 (member’s right to transfer accrued rights to benefits to this Section of the scheme);

“1995 regulation N3” means regulation N3 of the 1995 Regulations50 (transfers that are not made under the Public Sector Transfer Arrangements);

“2008 regulation 2.F.9” means regulation 2.F.9 of the 2008 Regulations51 (procedure for applications under regulation 2.F.8);

“2008 regulation 2.F.11” means regulation 2.F.11 of the 2008 Regulations52 (calculation of transferred–in pensionable service);

“2008 regulation 3.F.9” means regulation 3.F.9 of the 2008 Regulations53 (procedure for applications under regulation 3.F.8);

“2008 regulation 3.F.11” means regulation 3.F.11 of the 2008 Regulations54 (calculation of increase to pensionable earnings as the result of a transfer–in);

“2015 regulation 143” means regulation 143 of the 2015 Regulations (acceptance of transfer value payment);

“2015 scheme joining date” means the date on which the member became eligible to be an active member of the 2015 scheme for the purpose of regulation 142(1)(c)(i) of the 2015 Regulations (application procedure);

“legacy scheme remediable cash equivalent”, in relation to a member, means the cash equivalent of rights in the legacy scheme used by the scheme manager to acquire rights in the 2015 scheme under—

(a)

regulation M8 of the 1995 Regulations55 (member’s right to transfer a preserved pension to the 2015 Scheme), or

(b)

regulation 2.F.18 or regulation 3.F.18 of the 2008 Regulations56 (right to transfer a deferred pension to the 2015 Scheme),

so far as the cash equivalent relates to the member’s remediable rights;

“receiving scheme”, in relation to a remediable value, means the scheme to which the remediable value was, or is to be, paid;

“reformed public service pension scheme” means—

(a)

a Chapter 1 scheme57;

(b)

a judicial scheme within the meaning of section 70(1) of PSPJOA 2022;

(c)

a local government scheme within the meaning of section 86(1) of PSPJOA 2022;

“remediable benefits” means the benefits payable to or in respect of a member in relation to that member’s remediable service;

“remediable club transfer value”, in relation to a member, means the payment or acceptance by the scheme manager of—

(a)

a transfer value payment under Part M (transfers and buy-outs) or Part N (transfers from other pension arrangements) of the 1995 Regulations in accordance with the Public Sector Transfer Arrangements (within the meaning given to that term by regulation A2 of those Regulations);

(b)

a transfer value payment under Chapter 2.F of the 2008 Regulations (transfers) in accordance with the public sector transfer arrangements (within the meaning given to that term by regulation 2.A.1 of those Regulations);

(c)

a transfer value payment under Chapter 3.F of the 2008 Regulations (transfers) under the public sector transfer arrangements (within the meaning given to that term by regulation 3.A.1 of those Regulations);

(d)

a club transfer value under Part 7 of the 2015 Regulations (transfers) (within the meaning given to that term by regulation 132 of those Regulations),

so far as the transfer value payment or transfer value relates to the member’s remediable rights;

“remediable rights”, in relation to a member, means the member’s rights to benefits under a reformed public service pension scheme secured by virtue of the member’s remediable service;

“remediable transfer value”, in relation to a member, means the payment or acceptance by the scheme manager of a transfer value or transfer value payment other than—

(a)

a legacy scheme remediable cash equivalent, or

(b)

a remediable club transfer value,

so far as the transfer value payment or transfer value relates to the member’s remediable rights;

“remediable value” means a remediable club transfer value or a remediable transfer value;

“sending scheme”, in relation to a remediable value, means the scheme which paid, or is to pay, the remediable value.

(2)

Where a provision of this Part requires the scheme manager to calculate a transfer value (including a remediable value) in relation to rights secured in the legacy scheme or the 2015 scheme, that value must be calculated in accordance with—

(a)

the provisions of the legacy scheme or the 2015 scheme which apply to the calculation of values of that type, and

(b)

the guidance and tables provided for the purpose of calculating such values that were, or are, in use on the date used for the original calculation.

Changes to legislation:

Changes to Legislation

PART 6Transfers

Interpretation of Part 6 37.

(1)

(a)

(b)

(a)

(b)

(c)

(a)

(b)

(c)

(d)

(a)

(b)

(2)

(a)

(b)

Interpretation of Part 6
37.