Article 15 Election for non-aggregation of reckonable service on entering new service

In article 2(1) of the Principal Order (interpretation) after the definition of “aggregate period of reckonable service” insert—

• “”article 31F optant” has the meaning assigned to it by article 31F(3);”,

At the end of article 6 of the Principal Order add—

“(3)

This article is subject to articles 31F and 31G.”.

After article 31E of the Principal Order (as inserted by this Order) insert—

“Election for separate treatment on becoming a participant again

31F

(1)

Articles 31F and 31G apply if a person who has ceased to be a participant becomes a participant again on or after 6th April 2006 and makes an election for articles 31F and 31G to apply.

(2)

An election under this article is made by giving notice in writing to the Managers within the period of 6 months beginning with the day on which the person becomes a participant.

(3)

A person who makes such an election is referred to in this Order as an “article 31F optant”.

(4)

More than one election may be made under this article.

Effect of election

31G

(1)

Where a person makes an election under article 31F, the general rule is that this Order applies as if the person becoming a participant again were a different person from the person who ceased to be a participant earlier.

(2)

Accordingly, in particular, for the purposes of this Order—

(a)

the reckonable service (“the earlier service”) that the person was entitled to count immediately before becoming a participant again (including reckonable service that is attributable to the purchase of added years or any transfer payment accepted by the Managers during the course of that service) (“the earlier service”) is disregarded in determining rights in respect of his service after becoming a participant again,

(b)

he is regarded as a deferred pensioner in respect of the earlier service, and

(c)

in determining rights in respect of the earlier service—

(i)

the reckonable service that the person is entitled to count as a result of becoming a participant again (including reckonable service that is attributable to the purchase of added years or any transfer payment accepted by the Managers during the course of that service), and

(ii)

the fact that he has again become a participant and a Representative,

are disregarded.

(3)

Paragraphs (1) and (2) are subject to paragraphs (4) and (5) and need to be read with article 16(5)(b).

(4)

The fact that a person who has made an election under this article is a Representative is not disregarded for the purposes of article 10 (early retirement).

(5)

For the purpose of articles 19 to 24E(transfers), paragraphs (1) and (2) apply only so far as they affect the value of the rights of the person who has made the election.”.

In article 16(5)(b) after “not refunded to him” insert “(whether during the aggregate period of reckonable service in which he died or, in the case of an article 31F optant, any earlier period of reckonable service)”.