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Regulation 43 Establishment of deferred member’s account

Original text. Later amendments are not shown.

(1)

This regulation applies when an active member of this scheme becomes a deferred member of this scheme in relation to a continuous period of pensionable service.

(2)

The scheme manager must—

(a)

close the active member’s account for that period of service; and

(b)

establish a pension account for the deferred member for that period of service.

(3)

For the purpose of these Regulations, an account established under paragraph (2)(b) is called a deferred member’s account.