Contracted-out rightshas the meaning given in section 68A(5) of the Pension Schemes Act 1993. 151 For the purposes of— a calculating the cash equivalent referred to in section 29(2) of the 1999 Act;
moderate earnershas the meaning in paragraphs (4) to (6) of regulation 5 of the Retirement Benefits Schemes (Sharing of Pensions on Divorce) Regulations 2000.”
pension creditmeans a credit under section 29(1)(b) of the 1999 Act or corresponding Northern Ireland legislation;
pension credit benefitsmeans benefits payable under the Scheme to or in respect of a pension credit member by virtue of rights under the Scheme attributable to a pension credit;
pension credit membermeans a person who has pension credit rights or benefits under the Scheme;
pension credit rightsmeans rights to future benefits under the Scheme which are attributable to a pension credit;
pension debitmeans a debit under section 29(1)(a) of the 1999 Act or corresponding Northern Ireland legislation;
pension debit membermeans a member, whether an active member, a deferred member or a pensioner member, whose shareable rights under the Scheme are subject to a pension debit;
Relevant pension rightshas the meaning given in regulation 121(2). 161 No transfer of pension credit rights may be made from a pension credit member’s appropriate fund to another fund of the Scheme notwithstanding that that fund may be an appropriate fund for that member in respect of other rights he may have accrued under the Scheme.”
retirement grantincludes the lump sum grant referred to in regulation 147(2)(a).”
serious ill-healthmeans ill-health which is such as to give rise to a life expectancy of less than one year from the date on which commutation of the pension is to take effect. 5 Before making any decision as to whether a pension credit member may be entitled under paragraph (1), the appropriate administering authority must have produced to them or obtain a certificate from an independent registered medical practitioner as to whether in his opinion the pension credit member suffers from serious ill-health. 6 Payment of the commutation payment discharges the authority’s liability to the pension credit member in respect of his pension credit benefits. 7 The authority must deduct from the co
shareable rightshas the same meaning as in section 27(2) of the 1999 Act;
the 1999 Actmeans the Welfare Reform and Pensions Act 1999;