PART 7Transfers
CHAPTER 2Transfers values
SECTION 3Transfers in
Calculation of increase to pensionable earnings143
1
The increase in pensionable earnings that the member (M) is entitled to count under regulation 142 as a result of the transfer is calculated—
a
in accordance with guidance and tables provided by the scheme actuary for the purpose; and
b
by reference to any relevant factors as at the date the transfer payment is received by the scheme manager.
2
The benefits in respect of the transfer payment must be calculated by increasing M's pensionable earnings for—
a
the scheme year in which M joined this scheme, or
b
if the transfer payment is received more than 12 months after the day on which M joined this scheme (the starting day), the scheme year in which the payment is received.
3
Paragraph (2)(b) does not apply if—
a
a written statement estimating the increase in pensionable earnings that M would be entitled to count as a result of the transfer was given to M by the scheme manager during the period of 3 months ending 12 months after the starting date; and
b
the transfer payment is received by the scheme manager before the end of the period of 3 months after the date of the statement.
4
If the transfer is a club transfer, the club transfer earned pension M is entitled to count is calculated in accordance with the club transfer arrangements.
5
If the transfer value statement is accepted from a corresponding scheme, the increase in pensionable earnings M is entitled to count is the increase M would be entitled to count if—
a
M's employment to which that scheme applied were health service employment in respect of which M was a member of this scheme; and
b
M's contributions to that scheme were contributions to this scheme.