Public Authorities Superannuation (Transitional Provisions) Regulation 1985

This Regulation may be cited as the Public Authorities Superannuation (Transitional Provisions) Regulation 1985.

This Regulation shall take effect on and from 1 July 1985.

In this Regulation:

the Act means the Public Authorities Superannuation Act 1985.

transferred contributor means a transferred contributor as defined in clause 1 of Schedule 6, or clause 1 of Schedule 7, to the Act.

Expressions used in this Regulation have the same respective meanings as they have in Part 5 of the Act.

An election by a transferred contributor to take the benefit provided by clause 8 (2) and (3) of Schedule 6, or clause 8 (2) or (3) of Schedule 7, to the Act shall:

be in a form approved by the Board, and

specify such matters and be accompanied by such information provided by the employer of the transferred contributor at the time of retirement as the Board reasonably requires.

The election shall be lodged at the office of the Board:

in the case of an election to take a benefit referred to in subclause (1) instead of the whole or a specified part of the benefit provided by section 26 of the Act (benefit at age 65 or on early retirement or on death on or after age 60)—before or within the period of 2 months that next succeeds the date of the transferred contributor’s ceasing to be an employee or attaining the age of 65 years, whichever first occurs, or

in the case of an election to take a benefit referred to in subclause (1) instead of the whole or a specified part of the benefit provided by section 28 of the Act (benefit on total and permanent disablement before age 60)—within the period of 3 months (or such further period as the Board may in special circumstances allow) that next succeeds the date of the transferred contributor’s ceasing to be an employee.

The benefit provided by clause 8 (2) and (3) of Schedule 6, or clause 8 (2) or (3) of Schedule 7, to the Act shall be calculated with effect from the exit date of the transferred contributor who elected to take the benefit or the date on which that transferred contributor attains the age of 65 years, whichever first occurs, and shall be payable in equal fortnightly instalments.

Where an election is made by a transferred contributor to take the benefit provided by clause 8 (2) and (3) of Schedule 6 to the Act instead of the whole or part of the benefit provided by section 26 of the Act, the pension which is the benefit provided by clause 8 (2) of Schedule 6 to the Act shall be determined according to the following formula:

where:

P is the annual pension payable,

F is the final average salary of the transferred contributor,

Q is the number of benefit points to which the election relates, and

T is the number of whole years (a fraction of a year which does not form part of a whole year counting as a whole year) by which the exit date of the transferred contributor precedes the date of the transferred contributor’s 65th birthday.

Where an election is made by a transferred contributor to take the benefit provided by clause 8 (2) and (3) of Schedule 6 to the Act instead of the whole or part of the benefit provided by section 28 of the Act, the pension which is the benefit provided by clause 8 (2) of Schedule 6 to the Act shall be determined accordingly to the following formula:

where:

P is the annual pension payable,

S is:

where the transferred contributor has not attained the age of 58 years on or before the exit date—the transferred contributor’s final salary,

where the transferred contributor has attained the age of 58 years, but has not attained the age of 59 years, on or before the exit date—the average of the transferred contributor’s final salary and salary at 31st December last preceding the exit date, or

where the transferred contributor has attained the age of 59 years on or before the exit date—the transferred contributor’s final average salary, and

Q is the number of benefit points to which the election relates.

Where an election is made by a transferred contributor to take the benefit provided by clause 8 (2) and (3) of Schedule 6 to the Act instead of the whole or a specified part of the benefit provided by section 26 of the Act, the pension which is the benefit provided by clause 8 (3) of Schedule 6 to the Act shall be determined according to the following formula:

where:

P is the annual pension payable,

L is the amount of the benefit provided by section 26 of the Act or, as the case may be, the specified part of that benefit, and

C is the appropriate number in Column 2, 3 or 4 of the Table to this clause, having regard to the transferred contributor’s age as from when the pension is calculated, and to whether the transferred contributor is a man or a woman.

Table

Division factor for converting lump sum to annual pension

Column 1

Column 2

Column 3

Column 4

Male (No pension to spouse)

Male or female (with pension to spouse)

Female (no pension to spouse)

Person who attained age of 60 but not 61

11.4

14.0

13.3

Person who attained age of 61 but not 62

11.1

13.7

13.0

Person who attained age of 62 but not 63

10.8

13.4

12.6

Person who attained age of 63 but not 64

10.6

13.1

12.3

Person who attained age of 64 but not 65

10.3

12.8

11.9

Person who attained age of 65

10.0

12.5

11.5

An election by the spouse of a deceased transferred contributor to take the benefit provided by clause 9 (2) of Schedule 6 to the Act or clause 11 (1) or 12 (1) of this Regulation shall be lodged at the office of the Board within the period of 3 months (or such further period as the Board may in special circumstances allow) that next succeeds the death of the transferred contributor.

The benefit provided by clause 9 (2) of Schedule 6 to the Act or clause 11 (1) or 12 (1) of this Regulation shall be calculated with effect from the date of death of the transferred contributor whose spouse elected to take the benefit and shall be payable in equal fortnightly instalments.

Where an election is made by the spouse of a deceased transferred contributor to take the benefit provided by clause 9 (2) of Schedule 6 to the Act instead of the whole or a specified part of the employer-financed part of the benefit provided by section 27 of the Act (benefit on death before age 60), the pension which is the benefit provided by clause 9 (2) of Schedule 6 to the Act shall be determined according to the following formula:

where:

P is the annual pension payable,

S is the final salary of the transferred contributor, and

Q is the number of benefit points to which the election relates.

Where the spouse of a deceased employee who was a transferred contributor within the meaning of Schedule 6 to the Act becomes entitled to be paid the benefit provided by section 26 of the Act (benefit at age 65 or on early retirement or on death at or after age 60) the spouse may elect, in a form approved by the Board for the purposes of this clause, to take, instead of the whole or a specified part of the employer-financed part of that benefit, a pension for life determined according to the following formula:

where:

P is the annual pension payable,

S is the final salary of the transferred contributor,

Q is the number of benefit points to which the election relates, and

T is the number of whole years (a fraction of a year which does not form part of a whole year counting as a whole year) by which the time of death precedes the date of the transferred contributor’s 65th birthday.

Notwithstanding subclause (1), where, but for this subclause, a person would be entitled to more than one pension under subclause (1), the person is entitled to one only of those pensions being, where the pensions are not equal, the greater or greatest of them.

Part 2 of Schedule 6 to the Act applies to and in respect of a pension under subclause (1) in the same way as it applies to and in respect of a pension referred to in clause 8 (2) or (9) of that Schedule.

Where the spouse of a deceased employee who was a transferred contributor within the meaning of Schedule 7 to the Act becomes entitled to be paid the benefit provided by section 26 of the Act (benefit at age of 65 or on early retirement or on death at or after age 60) the spouse may elect, in a form approved by the Board, to take, instead of the whole or a specified part of that benefit, a pension for life of the actuarial equivalent, determined by the Board, of the benefit or part of the benefit that would have been payable if an election under this clause had not been made.

Part 2 of Schedule 6 to the Act applies to and in respect of a pension under subclause (1) in the same way as it applies to and in respect of a pension referred to in clause 8 (2) or (9) of that Schedule.