The National Health Service Pension Scheme (Scotland) Regulations 2015

CHAPTER 4 Pension accounts

Establishment of pension accounts

24.—(1) The scheme manager must establish and maintain one or more of the following pension accounts for each member of this scheme in accordance with Schedule 7—

(a) active member’s account;

(b) deferred member’s account;

(c) pensioner member^’s account;

(d) additional pension account;

(e) pension credit member’s account.

(2) A pension account—

(a) may be kept in any form the scheme manager considers appropriate; and

(b) must specify the details required by these Regulations.

(3) References in these Regulations to any amount specified in a pension account are references to the amount that is required by these Regulations to be so specified and not, if different, the amount actually so specified.

Closure of pension accounts on transfer out or repayment of balance of contributions

25.—(1) All pension accounts relating to a member (other than a pension credit member’s account) must be closed if—

(a) a transfer payment is made in respect of the member’s accrued rights under this scheme; or

(b) the member is repaid the balance of contributions under regulation 40.

(2) Paragraph (1) does not require the scheme manager to close an account that includes amounts to which the transfer payment or the refund does not relate or is not attributable.

(3) An account that is not closed because of paragraph (2) must be adjusted as the scheme manager considers appropriate to reflect the extinguishment of rights under this scheme.

Calculation of amount of accrued pension

26.—(1) For the purpose of a full retirement pension, the amount of accrued pension is calculated in accordance with paragraph 28 of Schedule 7.

(2) For the purpose of a partial retirement pension, the amount of accrued pension is calculated in accordance with paragraph 29 of Schedule 7.

(3) For the purpose of a deferred member’s account, the amount of accrued earned pension is calculated in accordance with paragraph 30 of Schedule 7.