Regulation 8 Amendments to the principal Regulations

For Regulation 3.1 there shall be substituted the following Regulation—

“3.1

(1)

Paragraph (2) shall apply where a member of an existing scheme wishes to make contributions to a FSAVC scheme for the purpose of improving his personal pension benefits or the lump sum payable by virtue of his having died in service.

(2)

There shall be taken into account for the purpose of assessing the maximum amount of contributions the member is entitled to make—

(a)

in relation to the personal pension benefits, the member’s retained benefits;

(b)

in relation to the lump sum payable by virtue of the member having died in service, the member’s retained death benefits.

(3)

Paragraph (2) shall not apply where the member makes contributions to a FSAVC scheme for any purpose other than that set out in paragraph (1).”.