40. This Section applies in respect of a deferred choice member (“M”), and no pension benefits have become payable in relation to M’s remediable service as a firefighter.
Commencement Information
I1Reg. 40 in operation at 1.10.2023, see reg. 1
41.—(1) This regulation applies in relation to a remediable club transfer value to be paid in respect of a member by the scheme manager on or after 1st October 2023.
(2) The scheme manager, must calculate the following amounts—
(a)the club transfer value of M’s rights under a firefighters’ 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 firefighters’ 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).
Commencement Information
I2Reg. 41 in operation at 1.10.2023, see reg. 1
42.—(1) This regulation applies in relation to a remediable club transfer value payment which is accepted by the scheme manager on or after 1st October 2023.
(2) The scheme manager, must determine—
(a)M’s overall rights in relation to the remediable club transfer value in the legacy scheme;
(b)M’s benefits if the remediable club transfer value were applied in respect of rights in the reformed scheme.
Commencement Information
I3Reg. 42 in operation at 1.10.2023, see reg. 1