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Regulation 127 Refund of contributions

Original text. Later amendments are not shown.

If M’s total contributions exceed the amount necessary to purchase the smaller of—

(a)

the amount of added surviving adult’s pension notified to the administrators by M under regulation 123(1)(c), or

(b)

the maximum amount of added surviving adult’s pension permissible under regulation 123(2),

the administrators must refund the excess contributions to M’s estate.