Police Pensions (Amendment) Regulations 1979
| Jurisdiction | UK Non-devolved |
| Citation | SI 1979/406 |
1979 No. 406
POLICE
The Police Pensions (Amendment) Regulations 197930thMarch 1979
6thApril 1979
1stMay 1979
In exercise of the powers conferred on me by sections 1 and 4 of the Police Pensions Act 1976(a), and after consultation with the Police Council for the United Kingdom, I hereby, with the consent of the Minister for the Civil Service, make the following Regulations:—
1. These Regulations may be cited as the Police Pensions (Amendment) Regulations 1979.
2. These Regulations shall come into operation on 1st May 1979 and shall have effect for the purposes of Regulation 3 as from 1st April 1979.
3. The Police Pensions Regulations 1973(b) shall be amended by the substitution for paragraph 8 of Schedule 9 of the following paragraph:—
"8.—(1) This paragraph shall apply where a transfer value is not paid within 6 months of the policeman ceasing to be a member of his former force.
(2) Subject to sub-paragraphs (3) and (4), the transfer value shall be increased by an amount equal to compound interest thereon at the rate of 2¼ per cent for each completed 3 months of the period beginning with the date he ceased to be a member of his former force and ending with the date of payment of the transfer value (disregarding any residual period of less than 3 months).
(3) Where the policeman ceased to be a member of his former force before 1st April 1979 but the transfer value is paid on or after that date, the period beginning with the date he ceased to be a member of his former force and ending with 31st March 1979 shall count for the purposes of computing the period referred to in sub-paragraph (2).
(4) Where the policeman ceased to be a member of his former force before 1st April 1977 but the transfer value is paid on or after 1st April 1979—
(a) the transfer value shall be increased by an amount equal to compound interest thereon at the rate of 6 per cent for each completed year in the period beginning with the date he ceased to be a member of his former force and ending with 31st March 1977 (disregarding any fraction of a year); and
(a) 1976 c. 35.
(b) S.I. 1973/428; the relevant amending instrument is 1977/2173.
(b) sub-paragraph (2) shall apply further to increase the transfer value as if the reference therein to the transfer value were a reference to the transfer value plus the amount (if any) of the increase under the preceding provisions of this sub-paragraph and as if he had ceased to be a member of his former force on 1st April...
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