Paragraph 30 Amount of periodical payments

(1)

Periodical payments for an effective pension age are payable by deduction by the member’s employer from the member’s pensionable earnings in every pay period during the periodical payment period.

(2)

The amount of the periodical payments is an amount—

(a)

determined by the scheme manager; and

(b)

set out in a notice to the member.

(3)

The scheme manager must determine the amount by reference to actuarial tables having regard to—

(a)

the member’s age and gender; and

(b)

the number of years before the member will reach normal pension age.

(4)

Before the start of every scheme year, the scheme manager must—

(a)

review the amount of the periodical payments; and

(b)

if the scheme manager re-determines the amount, send the member notice of the amount payable from the start of the next scheme year.