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Paragraph 31 Periodical payment period

Original text. Later amendments are not shown.

The periodical payment period—

(a)

begins with—

(i)

if the member exercises the option within 3 months after joining this scheme — the first appropriate pay period beginning on or after the date on which the scheme manager receives the option notice; or

(ii)

in any other case — the first appropriate pay period of the scheme year beginning on or after the date on which the scheme manager receives the option notice; and

(b)

ends on the earlier of—

(i)

the date on which the member ceases to be in pensionable service in the eligible employment to which the option relates; and

(ii)

the date on which the member reaches the effective pension age.