Paragraph 22 I1

After article 91A insert —

“Revaluation of guaranteed minimum

91AA

(1)

This article applies where a person —

(a)

has ceased to serve as a regular fireman, or

(b)

has elected under article 56A(1) not to pay pension contributions,

and has taken a right to a cash equivalent by exercising the option conferred by paragraph 13(2) of Schedule 1A to the Social Security Pensions Act 1975^f1 (“the Pensions Act”) wholly or partly in the way specified in paragraph 13(2)(b) (purchase of annuity).

(2)

Where this article applies, to the extent that the person’s guaranteed minimum is other-wise appropriately secured within the meaning of section 52C(4) of the Pensions Act^f2—

(a)

for the purposes of section 35(2) of that Act (amount of guaranteed minimum) his earnings factors shall be determined by reference to the last order under section 21 of that Act to come into force before the end of the tax year in which he ceased to serve or, as the case may be, in which his election under article 56A(1) took effect and without reference to any subsequent order, and

(b)

the weekly equivalent mentioned in section 35(2) of that Act shall be increased in accordance with any additional requirements for the time being prescribed for the purposes of section 45(1)(b) (exclusion from liability to pay a limited revaluation premium).”.