SCHEDULE 3Modifying provisions and amendments

PART 1Modification of early leaver and other provisions

Preservation of benefit2

1

Chapter 1 of Part 4 of the PSA 1993 (protection for early leavers: preservation of benefit) is modified as follows in relation to P.

2

In the application of that Chapter to the old scheme—

a

in section 7050 (interpretation), in the definitions of “relevant employment” and “long service benefit” a reference to the scheme is to be taken as a reference to either the old scheme or this scheme, as appropriate in the relevant contexts;

b

in section 71(1) (basic principle as to short service benefit)—

i

the requirement for a scheme to make provision is to be taken as a requirement that either the old scheme or this scheme must make that provision;

ii

a reference to a transfer payment to the scheme is to be taken as a reference to a transfer payment either to the old scheme or to this scheme;

iii

a reference to termination of P’s pensionable service is to be taken as a reference to termination of P’s pensionable service under this scheme;

iv

a reference to benefit which would have been payable to P under the scheme is to be taken as a reference to benefit which would have been payable to P either under the old scheme or under this scheme, and subsequent references in the Chapter to “short service benefit” are to be construed accordingly;

c

in section 71(5), a reference to termination of P’s pensionable service is to be taken as a reference to termination of P’s pensionable service under this scheme;

d

in section 71(7)(a), the reference to P’s pensionable service under the scheme is to be taken as a reference to P’s pensionable service either under the old scheme or under the old scheme and this scheme taken together; and

e

in sections 72(2) (no discrimination between short service and long service beneficiaries), 74(6) and (7) (computation of short service benefit), 75(3) and (4) (credits) and 76(1) and (3) (pension increases), a reference to termination of P’s pensionable service is to be taken as a reference to termination of P’s pensionable service under this scheme.

3

In the application of that Chapter to this scheme—

a

in section 70, in the definitions of “relevant employment” and “long service benefit” a reference to the scheme is to be taken as a reference to either the old scheme or this scheme;

b

in section 71(1)—

i

the requirement for a scheme to make provision is to be taken as a requirement that either the old scheme or this scheme must make that provision;

ii

a reference to a transfer payment to the scheme is to be taken as a reference to a transfer payment either to the old scheme or to this scheme;

iii

a reference to benefit which would have been payable to P under the scheme is to be taken as a reference to benefit which would have been payable to P either under the old scheme or under this scheme, and subsequent references in the Chapter to “short service benefit” are to be construed accordingly;

c

in section 71(7)(a), the reference to P’s pensionable service under the scheme is to be taken as a reference to P’s pensionable service either under this scheme or under the old scheme and this scheme taken together; and

d

in section 74(6), in relation to pensionable service which is terminated, the reference to the beginning of that service is to be taken as a reference to the beginning of pensionable service under the old scheme.