"accrued rights" means the rights which have accrued in respect of a person under these regulations at the material date (or, in the case of such a person as is described in regulation J2(11), those rights in respect of which his application under regulation J2(2)(c) was made), or, if his service is less than that specified in regulation E2(1)(c)(i) the rights which would have so accrued if that regulation had contained no requirement as to service; and, for the purpose of determining a single man's accrued rights in respect of a widow's pension all his reckonable service shall be taken into account if any part of that reckonable service is reckonable by virtue of regulation J9(1)(a) of these regulations or regulation 70 of the 1981 regulations;

"capitalised value" means the capitalised value at the material date as determined by the Committee, in such a manner as may be approved by the Government Actuary or by an actuary authorised by the Government Actuary to act on his behalf for that purpose, having regard to investment conditions and the contingencies on which benefits are, or are to be, payable under these regulations;

"material date" means the date on which the person ceased to be employed in local government employment or to be a pensionable employee, as described in regulation J2(1), or, if it is later, the date on which his application for payment of a transfer value is received by the Committee; and

(a) where the transfer value - 


(i) is paid by the trustees or managers of a club scheme,

(ii) represents all the rights relating to the person in that scheme,

(iii) has been calculated in a manner consistent with the methods adopted and assumptions made by the Committee in determining the amount of transfer values to be paid to club schemes, and

(iv) is paid following an application made to the Committee within 12 months of the person becoming a pensionable employee,



the period of reckonable service to be credited to the person shall be equal to the period of service which if used to calculate a transfer value to be paid to a club scheme would produce an amount equal to the transfer value received by the Committee and, in making the calculation regard shall be had to the person's age, rate of pensionable remuneration, pensionable age, marital status and, in addition, to any other factor notified to the Committee by the trustees or managers of the scheme making the payment as having been taken into account in determining its amount;

(b) in any case the period of reckonable service to be credited to the person shall be calculated in a manner consistent with the methods adopted and assumptions made by the Committee in determining the amount of transfer values to be paid to superannuation schemes (other than club schemes) under Schedule 16, due allowance being given for the expected increase in the pensionable remuneration of a local government employee between the appropriate date and the date on which the person in respect of whom the transfer value was paid would attain pensionable age.

(i) any person who has completed 5 or more year's reckonable service and qualifying service as a pensionable employee, or

(ii) any person to whom regulation C15(11) of the principal Regulations applies and who has not received a return of contributions,

and whose local government employment ceased before 1st January 1986 (or who ceased to be subject to the principal Regulations before that date), so as to allow him to exercise an option under regulation J2 of the principal Regulations which would not have been available to him had these regulations not been made; or

(b) in relation to - 

(i) payments of transfer values made by the Committee to club schemes in respect of which an application was received by the Committee before 6th April 1988, or

(ii) payments of transfer values made by such schemes to the Committee, in respect of which an application was received by the scheme before that date,

unless both the Committee and the trustees or managers of the scheme agree otherwise.

(i) a sum equal to the amount of the first transfer value together with compound interest on that sum calculated at the rate of 2¼% per quarter for the period beginning on the day after the person ceased the former employment and ending on the date on which the sum is paid to the Committee; and

(ii) a transfer value, calculated in accordance with Part J of the principal Regulations (as amended by these regulations) in respect of the person's service while he was a member of the club scheme ("the second transfer value").

(i) ceased before 16th November 1998 to hold an employment in respect of which he was a pensionable employee (whether or not he has subsequently recommenced any such employment); or

(ii) died before that date while still in such an employment; and

(c) the first-mentioned person, by notice in writing given to the Committee within 3 months after 16th November 1998, elects that that provision shall not apply in relation to that benefit.

(i) by virtue of periods of service rendered before the cessation referred to in paragraph (1) (or, if there has been more than one cessation, the last of them before 16th November 1998); or

(ii) by virtue of contributions paid in respect of any such periods of service; and

(b) in determining entitlement to, or the amount of, the benefit to that extent, he shall (without prejudice to the application of this paragraph) be treated as if he had never recommenced service in such employment at any time after the cessation referred to in sub-paragraph (a);